Yang Delong: Blue Chips Valuation Bottomed Out Shenzhen Hong Kong Through Good Blue Chips

After the national day, the market has seen an upward trend, and some blue chips have less than 10 times earnings.

These high-quality blue chips will become the targets of some industrial capital or insurance funds.

Now we have entered the era of blue chip mergers and acquisitions. In the next two to three years, we often see big capital raising some blue chips.

So in the four quarter, we should lay out these relatively good blue chips so that we can enjoy the rise of the market.

After the crazy rise of the property market, it may lead to severe regulation. Once the regulation and control can lead to a turning point in the property market, the seesaw effect of the property market and stock market will make a lot of capital pfer from the property market to the stock market.

And after October, the favorable factors of the stock market continue to increase, for example, in November, Shenzhen Hong Kong Tong will be opened, and there are even reports that the four quarter will be pointed out.

The MSCI index was included.

And the negative factors are not yet seen. The adjustment of the property market may become an opportunity for the stock market to rise.

Therefore, the first trading day after the festival showed a trend of volume rise, which continued on Tuesday.

In addition, we can see that in addition to the decline in the real estate sector on Monday, other sectors are rising, and the real estate sector also rose on Tuesday.

This shows a general pattern.

The opening of Shenzhen Hong Kong Tong can not be said to bring a lot of money, or even more capital than the north.

But the greatest significance for A shares is to bring about a change in investment philosophy, just like the opening of Shanghai and Hong Kong in that year.

In the traditional retail market, the valuation of small cap stocks is relatively high, while the valuation of blue chips is relatively low for a long time.

Now, the premium index of A/ H-share has fallen from 150 to below 120, that is to say, the growth of Hong Kong stock this year is much higher than that of A shares.

The valuation of Hong Kong stocks has been relatively low. After the opening of Shenzhen and Hong Kong, investors will have a new understanding of the valuation of assets, and the foreign capital of Shanghai will definitely be the first choice for blue chips.

Ascension.

Like some small cap stocks, there are six or seventy times the valuation, and the valuation is high in any angle.

But when we look at some blue chips, valuations have fallen to the bottom of history.

Like Shanghai and Shenzhen 300, the P / E ratio is 13 or 4 times, which is a relatively low P / E ratio.

And there is room for improvement in the valuation of blue chips, especially in the

After opening up, A shares and Hong Kong stocks have achieved mutual investment. Under such circumstances, the valuation of blue chips will rise, or even generate a certain premium, which is very different from before.

In the blue chip stocks, we must first exclude big blue chips, because they need a lot of money to push them up. Now that the market has not yet come to a lot of money, I think we should look for opportunities from second tier blue chips.

The securities sector's current sector is promising, because the stock market adjustment has also been more adequate before the three quarter.

In the case of uncertainty, the brokerage sector is weak.

But we can see that the opening of Shenzhen Hong Kong Tong is already firmly established, and it will be officially opened in November, which should have some stimulation on the stock market.

In addition, the military industry unit had the first wave of rebound in May and June this year, and it fell again in the three quarter. It fell back to the starting point or so. In the fourth quarter, it is likely that the market will rebound.