Du Kunwei: Gem Appears To Be On The Empty Side.

Now, the factors that restrict the stock market's going well are not small. The valuation is still high. What's the reason for slowing down? The factors at the end of the month are more entangled. The exchange rate factors can't be ignored. The Fed's interest rate increases the market's unease, even though the bull market is still unheard of.

If there is no mysterious capital to enter the market, let the market free game, in the news is not so good, the market hot spot is not so strong, the stock index on the 5 day line's support will not be so strong, after the stock index breaks through the annual line, has not yet stepped back the effectiveness of the breakthrough, it is possible to test the support strength near the line, in order to confirm the effectiveness of the breakthrough, and then choose the direction.

However, if the mysterious fund starts to use the pension to start the bank's support, it is another matter. Some mysterious funds in China often make the forecast index face, and it should rise or fall.

But no matter how the index evolves, there seems to be no big mistake in avoiding the two day plate.

Today, affected by the weakening of the periphery, the two cities are slightly open.

Slight rise, although the whole day, despite repeated shocks, but lower is the main keynote, at the close, the Shanghai stock index reported 3116.31 points, down 0.5%, traded 215 billion 768 million yuan, Shen Cheng index reported 10817.51 points, fell 0.5%, clinched 331 billion 487 million yuan, the gem index reported 2184.49 points, fell 0.71%, traded 88 billion 143 million yuan, two cities 38 shares (including ST shares) limit, the stock market limit, the Shanghai stock market has been reduced to nearly yuan, indicating that more kinetic energy weakened, investors will catch up with the will gradually weak.

From the point of view of the index operation, the Shanghai Composite Index failed to recover the gap, and it was stabilized near the 5 day line, while the gem fell 0.7% at a time, indicating that the elasticity of the Shanghai composite index was larger.

Judging from the disk, the hot spots of the two cities are rapidly ebbing.

To be cautious, only by the news of the Chinese health concept stocks strong trend, there are two stock trading, two shares failed to maintain a substantial decline in the evening, liquor stocks strong trend, according to the author's observation, the recent hot spots are mainly two days tour, the earliest Tianjin Xiali.

Followed by China's electric power construction, followed by coal trend, after two strong, followed by a decline in the top, based on coal color linkage, the colored plate also has a certain degree of adjustment.

Today, the reason for the fall is that the hot spots have switched too fast, and the market has not been able to form new hot spots.

Clear leading stocks have brought a lead plate, but at present, it is still hard to find a trace, and the current valuation is not low, is relatively high, rather than the low area, so it is difficult to increase the space for valuation, it is difficult to arouse popularity. Although the two railway bureau of China Railway has a straight rise of 4% in the afternoon, but the stock market has been falling short, and the stock price has been falling down, and once hit a new low today. Tianjin Xiali has also been strong red. But finally, because of the high buying and selling, it is heavy and useless. As a rebound above intermediate level, we need one.

Although Vanke stock price has been protected today, but from the public media coverage, the fund has sold stocks, and only the venture capital is sticking to it. The risk capital is sticking to it. There is no way to sell stocks, and a large number of circulating chips fall into the hands of small investors. Although in the short term, the cost of holding shares is convergent, the stock price is difficult to adjust, but there is no institutional strength to participate in it, and valuations are not cheap. "Since last year, Vanke has gone through too many things. For most institutional investors, Vanke's core value is brand and management team, and the importance of management team must be better.

At present, the stock market war is still unknown, but what we can see is Vanke's continuous loss of management team. According to our understanding, the whole company is in a state of panic. Vanke A's stock price has not been cheap, the dynamic P / E ratio has approached 30 times, and the dividend rate has also been greatly reduced. "Venture capital is unlikely to be vigorously protected, and retail investors are in a mess. The stock price support is hard to say. That is to say, the stock price has a larger drop in space.

In fact, Vanke's strength today may also be related to the Hengda department's brand name Mei Yan shares. Mei Yan's shares have been linked to two boards, which has also led to the rise of other stocks. Guangdong Hong Yuan's trading limit has also been good. The development of Langfang, including Bao Ying, also has a good performance. However, Hengda's brand is not well understood.

Money can be capricious, but outsiders can't explore.

Today, the difference between Shanghai stock market and Shanghai stock market is the small volume of Shenzhen stock market, which is mainly the decline of the growth enterprise market. This is not the market worried about the pformation of some investment styles in the market of the pensions coming into the market. Therefore, some funds in the market are hurting on the road. At present, it is difficult to judge. However, if the volume is down, there will still be some opportunities for further exploration based on inertia.

Apple's share price fell sharply due to a decline in revenue, which may spread to the related stocks. If Apple's glorious period has passed, some apple stocks that rely heavily on apple industry will emerge.

Maybe.

If the market is ignored or adjusted, the author thinks that this reflects a mature market, will not stir up the news again, and will not buy the so-called blue chip stocks for a large number of people. In terms of the value of banks and other large cap stocks, there is no problem of underestimation. It is a kind of investment income expectation problem. It is a comprehensive measurement problem of bad loans. It can be held, but not suitable for excessive radical speculation. The postal savings bank has risen slightly under Goldman Sachs. However, the stock price immediately revealed itself and serious breakage occurred. The most disappointing thing for the market is the introduction of pensions.

At present, the premium between AH shares of bank shares is obvious. Starting from the perspective of value investment, starting from the dividend rate, investing in A shares is not more cost-effective than investing in H-shares. Therefore, the pensions are not invested in A shares, but should be invested in H-shares, but if the pension is to serve the market, it is another matter of nature.

The US dollar index was fine, J.P. Morgan sang empty American stock market, and its impact on China's stock market was negative. However, the offshore RMB exchange rate continued to fall. The offshore renminbi (CNH) rebounded in the trading session in New York after a day of rebounding against the US dollar. For the first time since the 5 trading day, the spot spread of offshore and onshore RMB has expanded to more than 100 points.

At 5 a.m. on Thursday in Beijing, CNH fell 0.13% to 6.7847 yuan.

There is still room for a downward trend in the RMB exchange rate.