Big Volume Can Continue To Shrink, Where Will The A Share Market Go?

The market's current state of energy can not sustain the exponential rise, especially in the face of intensive average drag and the holding up pressure. Yesterday, the Shanghai stock market's turnover of more than 4 billion yuan is far from the turnover of the first trillion yuan, which must be the common role of many factors.

Analysts pointed out that, drawing on historical experience, the bottom of the policy will shake the bottom of the market to confirm that the market is usually accompanied by a significant contraction in volume, and eventually the volume will shrink to 30% to 40% of the previous high.

Policy support is still continuing.

Reporter: A share market After a sharp rebound on Tuesday, yesterday's deadlock again. Among them, the Shanghai Stock Index maintained a weak pattern throughout the day, and eventually closed down 1.65%, at 3694.57 points, and fell to the 3700 point mark. The volume of Shanghai and Shenzhen two cities is still sluggish, with a total turnover of only 960 billion yuan. What are the factors that restrict the continuous rise of the market? What should investors think of the current volume of land?

Jufeng: in the news, Reform of state-owned enterprises The matching scheme is basically finalized, and the top-level design plan will soon be released, which will still be good for the market. But for the concept stocks, the anticipation of the speculation will come to an end, and not to catch up with it in the short term. In addition, some banks will restart the allocation of capital to increase the blood spanfusion for the major shareholders, and add a good market for the stability of the market. Disk performance shows that the heavyweight sell-off is bigger, but the stocks are more active, and the enthusiasm and confidence of the spanaction are gradually strengthened, and the market is generally improving. Intraday attention should be paid to the fact that the hot spots such as the late stage military industry have been pulled up again, but the profit taking market is obviously short selling. Overall, the fundamentals of the short-term market are good, the policy support continues, and the degree of financial concern continues to improve. The overall rebound is the trend of the times, and actively grasp the opportunity of low absorption.

Yuanda Investment: it is not a temporary formation that quantity can be depressed for a long time. Yesterday, the Shanghai stock market's turnover of more than 4 billion yuan is far from the turnover of the first trillion yuan, which must be the common role of many factors. First of all, the source of retroactive decline is leverage. In the process of lowering leverage, the A share market has been constantly exploring the bottom, resulting in many financing outflows, and the leverage of a wave has dropped, resulting in a sharp reduction in the market's funds. Second, it is the focus of stability maintenance fund. The current strategy of this part of the fund is limited to "support", and it will not lift the market. Finally, although the stock market is dominated by institutions, small and medium investors also play a key role in the A share market. The plunge and overturn of the stock market really make investors fearful. It is precisely because of the resonance of the above factors that the quantity can continue to shrink and go down, and the market is low.

Still need polishing at the bottom.

Reporter: on Wednesday, the A share market went down sharply and shrank. Although it was a callback, it saved most of the fruits of the previous day's gains. From the technical point of view, where will the A share market go?

Big Moore Investment: from a technical point of view, yesterday's stock index between the 5 day moving average and the 10 day moving average between the narrow shocks, the intraday diving many times, showing that the current investor sentiment is still unstable, the recent market volume also confirms this point. The market's current state of energy can not sustain the exponential rise, especially in the face of intensive average drag and the holding up pressure. Short term market sentiment is still expected to be prudent, and market operability is not strong. It is suggested that investors should control positions in the short run and wait for the market to enlarge effectively before choosing to enter.

Haitong Securities: the recovery of market confidence takes time. Drawing on past historical experience, the bottom of the policy will shock and confirm the bottom of the market. The bottom of the market is often accompanied by a significant contraction in volume. The final volume will shrink to 30% to 40% of the previous high. at present Volume of A shares Atrophy to 58 billion 480 million strands, 45% of the peak, may still shrink further.

Focus on the concept of state-owned enterprise reform

Reporter: yesterday, on the disk, chemical, cement, building materials, general aviation, Tibet plate, highway and other plates were among the top gainers; the concept of superconductivity, civil aviation airports, insurance, China Super concept, and securities companies were among the top ones. How can investors grasp the investment opportunities in the future?

Tianxin Investment: there are four main ideas for the operation of the post market. First, for the plate that continues to rise in the near future, especially the state-owned enterprises, such as state-owned enterprise reform and military industry, it is still in a strong position, and it can continue to look at the high level in the short term. Second, for the recent increase, but no policy anticipation of the plate or stocks, it is recommended to lighten up the warehouse; third, for the plate with policy expectations and sustained growth in performance, it can choose to increase its position, such as environmental protection; fourth, the early stage has been fired, and the recent decline has not been noticeable.

Guangzhou Bandung: the concussion will continue to be the main tone of the market in the coming period, and those stocks that are mainly spanferred out of the main fund and the stock market will be seriously overdrawn in the future will continue to fall, and those main operating cycles are not over. Large shareholders' holdings, repurchase, employee stock ownership and equity incentives will be expected to continue to rise. The main force of the recent trading limit is that of the active low price small cap stocks, which is also the main force of the recent trading limit. In addition, some state-owned enterprises' reform, manufacturing upgrading and regional economy are also expected to have structural layout opportunities as the important policy nodes are approaching, stimulating the catalytic factors, and investors may wish to lurk in batches of low-lying batches.

Jufeng Investment: the two major investment themes of military industry and state assets reform are still the driving force to drive the market upward. Overall, the market will gradually stabilize, investors can gradually increase the central line layout of the newspaper and the reform of state-owned shares. In addition, the economic stimulus plan will benefit from the "one belt, one way", UHV and infrastructure sectors.

AVIC Securities: focus on 3 popular sectors: military industry, state enterprise reform and Internet finance, among which military industry and state-owned enterprise reform remain one of the main trends of yesterday, especially in the rapid rush of afternoon market, the SOE reform concept stocks played a key role; besides, the intelligent robot sector showed strong performance, and investors could also focus on the latter stage.