Market Warmer Than Expected Investment, Rational Participation In The Market

At present, although the downward pressure on the macro-economy is still relatively large, the profitability of listed companies is not optimistic, but some positive changes are emerging, such as the risk-free interest rate downlink channel has been re opened, the market risk appetite has appeared signs of repair, and the impact of liquidity impact has been weakened.

For the next quarter

Cautiously optimistic, it is expected that the market will remain volatile, but the magnitude of shocks is expected to expand, and structural investment opportunities will gradually emerge.

The market is getting warmer than expected. Looking ahead, in the context of the systemic risk of the plunge and the fluidity of the market, there will be more opportunities for participation in the market. We will pay close attention to the policy stimulus in 13th Five-Year, central enterprises, Disney, regional economy, directional stimulation and steady growth.

The performance of the economic data is poor, and the overall business environment of the enterprise is facing a larger downside risk. It is necessary to avoid the risk of traditional enterprise performance. In the medium and long-term value perspective, it is still preferable to choose the future emerging consumer assets (such as media, tourism and sports).

From the perspective of economic structure pformation, most enterprises pformation is still the main thread of the market, and we need to pay more attention to the M & a pformation stocks and the sub new stocks representing the new directions.

Current market

Strengthening fixed income assets has risen sharply in the past two months under the stimulus of stock market funds.

Recently released inflation figures are lower than expected, while the return on financial products generally also declined rapidly, and funds began to look for new investment directions.

To stabilize and to provide funds for outflow funds has also become the third important factor to promote market rebound.

At present, the market still shows a pattern of overfall and rebound, and the short-term theme investment is prevailing. In October, the theme of the fifth Plenary Session of the 18th CPC Central Committee was focused.

In the three quarter of October, a lot of bad factors were gradually eliminated. The inventory of off-site assets was coming to an end. The deleveraging process was basically over. The A share market ushered in a rare rebound window, and the small and medium sized stocks rose ahead of them to drive the big blue chips up to the top.

In the current low interest rate environment, equities have become an indispensable configuration in asset allocation, and the overall valuation of A shares is relatively safe after two previous rounds of falls.

Recently, the RMB exchange rate pressure has eased. In September, the official PMI index rebounded slightly, and the economy began to show signs of weak stabilization. Investor sentiment continued to improve.

In the three quarter, the A share market plummeted, and many stocks were "cut short", and many empty investors were close to empty positions.

Therefore, the current rally will exceed many investors' expectations, and investors can take an active interest in the chance of high-quality growth stocks that are wrongly killed.