Market Turmoil Is Expected To Be At The Bottom Stage Of The Reform Of State-Owned Enterprises Into The Layout Of The Main Line.

Three, the turbulence factor has been overinterpreted by the market, and the reform of state-owned enterprises is still in the "draught".

Although it still takes time to build the bottom of the stage, the prevailing mainstream view is that the economic fundamentals,

The impact of the external market turmoil has actually been included in the latest stock price, and has been overly deductive by the market pessimism. With the release of bad pressure, the market is expected to see the bottom of the market in the near future.

The fundamentals of the economy, the RMB exchange rate and the turbulence in the external market have been included in the latest stock prices, and are overdrawn by the pessimism of the market. With the release of bad pressure, the market is expected to be at the bottom of the market in the near future.

In the direction, the theme investment represented by the reform of state-owned enterprises and the "one belt and one road" is still the main thread running through the medium term of A shares, and the theme investment value will be further highlighted after the adjustment.

After a few days of trading around 4000 points, the Shanghai composite index was 6.16% in August 18th, and then continued to fall, the lowest since the 2850.71 round of the current round of decline this Wednesday.

According to statistics, in August 18th -26, Shanghai and Shenzhen two cities, a total of 2334 stocks fell, while the same period rose.

The number is only 17.

And in the stock market, there are 1736 stocks falling more than 30%, and more than 40% of them are 433, and the 4 stocks of Yuan Xing energy, Bo Yan technology, Yi Mi Kang and ultra China technology have the largest decline, all over 50%.

Guo Hai Securities believes that bad profits are rapidly released as a continuous decline, and there is little chance of a bigger negative impact in the short term.

With the downward trend of the A share market, the overall valuation of the market has declined rapidly. Currently, some of the companies with good fundamentals are even below the valuation level before the bull market.

This week, the central bank issued a "double down" policy to a certain extent to ease the panic, coupled with the previous pension market entry plan is conducive to promoting long-term investment value, these measures to curb the stock market decline has provided positive energy.

With the gradual release of bad news and short power shrinking, the bottom of the stage is expected to emerge in the near future.

On the disk,

Widespread overshoot has been raised by the increase in the OTC market. Yesterday, Shanghai composite index opened sharply and spent most of the day running on a flat plate. At the end of the session, the strength of the strong buying power broke out, and the 3000 point barrier was recaptured, with less than 300 stocks falling.

Agencies optimistic about the reform of state-owned enterprises

After two sharp falls, investors' risk appetite declined further.

Many brokerages believe that the current mainstream investment with basic support and certain growth will be concerned by funds.

Among them, Soochow Securities believes that the top-level design plan for the reform of state-owned enterprises will be introduced before the end of August. From the reform of central enterprises to the gradual development of local reforms, the reform of state-owned enterprises is still the biggest theme in the near future and in the next stage.

China's CITIC investment securities hold the same view that the incentive mechanism of state-owned assets integration and reorganization, the formation of state-owned capital investment and operation companies, the mixed ownership reform and the strengthening of employee stock ownership are the four main directions of the reform of state-owned enterprises in China. The integration and reorganization of state-owned assets based on the industrial life cycle and the "one area and one road" will be the heavy play and the foundation, and the ESOP is mainly carried out in some knowledge intensive state-owned enterprises. With the top documents of the reform, the profit is further released and the related opportunities are worth grasping.

China Merchants Securities believes that the central bank "double down" on the whole as a result of the valuation tends to be reasonable, the mood is gradually stable blue chip is positive positive, help further ease the undervalued blue chip stabilization pressure.

And push forward "

"Strategy and participation in international competition are the main drivers of the merger and reorganization of the central enterprises. The export oriented and export-oriented central enterprises that are represented by ships, shipping, communications and buildings are more likely to merge and restructure.

Anxin securities also said that under the recent adjustment of the index, the performance of the theme is also downhill. However, judging from the successive suspension of the shipping companies and the suspension of the listed companies of the Minmetals Group, the state-owned capital investment and operation companies will soon have a super expected situation.