Guo Shiliang'S Interpretation Of The Big Blue Chip Era Of China'S Stock Market

Although the recent major events such as the RMB's accession to the SDR have an impact on the growth of the related heavyweights, considering the current financial environment of the market, the recent price movements of the heavyweight stock can not be a sufficient reason for the stock market to enter the big blue chip era.

As to whether the style of the market has changed, maybe we still need to keep a close eye on the face of the leading shares of Vanke A recently.

Nowadays, China's stock market has undergone a vigorous process of "deleveraging". At present, the leverage of market leverage has greatly reduced the leverage of the stock market.

At the same time, after a fatal blow to the distribution channel, the liquidity of the market comes from the financing channel.

At this point, the new liquidity has not yet entered the A share market, in fact, to some extent, restricts the market rebound.

It can be seen that the performance of the super heavy stocks is still questionable.

Recently, the blue chip stocks represented by Vanke A have seen a trend of rapid rise.

Among them, Vanke A, for example, as of Wednesday's close, the stock price has risen 27.84% over last Friday's closing price, which has a good pull effect on the market as a whole.

It is worth mentioning that, influenced by the successive rise of Vanke A shares, recently, super weight plates such as insurance, banking and securities companies also showed a sharp rise, and broke the stalemate of the recent consolidation.

At this point, under the influence of the joint efforts of multiple weight plates, in fact, it has also brought great impetus to short-term A shares.

However, in the A share market, there is often a trend of style conversion.

Take the early stage as an example, under the background of the general growth of small and medium growth enterprise board stocks, the super weight plate headed by banks and insurance is basically in the pattern of lateral shocks, thus forming the interpretation of the market "82" market.

However, the recent performance of the heavyweights has changed the market to another state, that is, gradually changing from "82" market to "28" market, and the market speculation style has changed dramatically again.

As a matter of fact, under the current market environment, it is hard to see the trend of rising and falling.

The reason is on the one hand, the super led by bank and insurance.

The weight of market share is too high, and its abnormal performance will also bring great influence to the market.

On the other hand, there are some differences in the investment philosophy of the market.

Among them, in the A share market, capital is the dominant factor, which is basically the pattern of "becoming a capital and losing money".

Obviously, in this mode, the market's basic situation of stock is not the primary concern, and the more attractive market concern is the size of the circulation market value of the listed company and whether the stock is active or not.

It can be seen that under the background of obvious differentiation of market investment philosophy, it has also brought great operational contradictions to investors.

In fact, for the investors in the A share market, there is almost no common character, that is, the stock holding cycle is short and the frequency of stock exchange is frequent.

Obviously, for this operation characteristic,

More willing to pursue differential profits or more likely to close to low and medium value stocks.

On the contrary, for the super weight banks headed by banks and insurance, the advantage of the difference is not significant, and its overall operation trend is also sluggish, which makes it difficult for investors to get huge profits from it.

In fact, for banks, insurance as the representative of the super weight stocks, it is more suitable for medium and long-term investment in sound investors.

Specifically, there are several advantages.

Among them, the risk of price fluctuation is relatively low, and in the process of irrational index decline, the index will often become an important target of index maintenance, thereby reducing the overall loss.

At the same time, this kind of stock is more of a kind of disk maintenance tool, and basically belongs to the type of organizations gathered and scattered.

As a result, in fact, it also narrowed the scope of its price fluctuation, and the price trend tended to be stable.

Moreover, according to the dividend situation in recent years, this kind of

The dividend yield remained at a relatively high level.

Among them, for some bank shares and insurance stocks, its average dividend rate in recent years has reached more than 5%, some even higher than 7%.

At this point, medium and long-term investments are also a good choice for investors who are weak in risk tolerance and need to rely on investment to catch up with the real inflation rate.

It should be noted that according to the weight of the current market, the weight share of banks, insurance and securities companies in the whole market is still quite high.

In other words, for those heavyweight stocks with huge weighting, they will easily pull the index up if their stock price changes.

If such heavyweight shares continue to rise, then the market index will attack 4000 points in the short term, which will become a breeze.

However, in view of the current capital market situation, the sustainability of heavyweight stocks remains to be seen. Behind the sharp rise of these weighted stocks, it may be inseparable from the behavior of some fund institutions at the end of the year to make high market capitalization.