A Share Trend Is Still Ice And Fire Dual Day "W" Situation Gradually Clearer.

The structural market share split, last week's A share trend is still ice and fire days: on the other hand, I pushed the blue chips as the representative of the Shanghai Stock Exchange 50 continued to rise, while the high valuation of the subject stocks continued downward, and even appeared in June 1st when the 100 stock limit of the tragic situation.

There are good reasons to judge that the bottom of A share W has gradually taken shape, and investment opportunities in China's stock market are approaching.

01

The rapid upward pressure is weakening.

Since May 23rd, the interest rate of ten - year treasury bonds has decreased from 3.67% to 3.61%.

This is a very important signal that the rapid rise in capital prices and the rapid rise in yields this year have come to an end, and the tight financial situation is easing.

For the stock market, the improvement of capital surface provides an important basic condition for the market to go well.

02

Decision level pairs

The disposition is smooth and orderly.

Some time ago, the central bank and the China Banking Regulatory Commission issued a policy. The basic requirement is: no new risks can be generated by disposing of financial risks.

This policy is very important, and it is very important for us to grasp the future policy trend in the financial field.

In fact, in the process of resolving financial risks, as long as we can maintain a stable and orderly policy tone and balance the relationship between financial security and disposal of financial risks, we should maintain full confidence in the stable operation of financial markets, including the A share market.

03

RMB

The trend is easing or even showing signs of reversal.

In a very short period of time, the exchange rate of RMB against the US dollar rose from 6.9 to 6.8, or even 6.79, indicating that the RMB has changed the trend of unilateral downtrend, and the offshore market has reversed the demand for RMB.

In Hongkong, even the situation of RMB shortage has led to major banks competing for high interest rates. The reason behind that is that the short selling of the renminbi has been exploded and the demand for RMB has increased substantially.

The stabilization of the RMB exchange rate will reduce the pressure of capital outflow and will gradually show the stability and promotion of the stock market.

04

To reduce the new regulations, regulators have further strengthened investor protection.

The reduction of the new regulation is actually a remedy for the loopholes in the rules set in January 2016, which mainly expanded the scope of the supervision objects and the restrictions on the way of reduction.

From the scope of supervision, the new regulations not only restrict the reduction of controlling shareholders, large shareholders and the high holdings of the directors, but also extend to the pre starting shareholders, the increasing shareholders, the pferee of the bulk reduction or the pfer of the agreement, the exchangeable debt exchange shareholders, and the exchange shareholders of stock rights and interests, including the large shareholders.

From the perspective of reduction channels, the new regulation not only restricts the reduction of bidding pactions, but also restricts the reduction of bridge pactions, the reduction of bulk pactions, and the reduction of executives' resignation.

The reduction of the new regulation reflects the supervision idea of completely blocking and strictly prohibit arbitrage, which will largely change the game rules and investment logic of the A share market, and guide the capital market to return to the path of value investment.

05

The pace of IPO slows down, and the policy's intention to protect the market is obvious.

Following the issuance of IPO approvals by 7 companies in May 26th, the number of new IPO approvals in June 2nd continued to decline to 4. Compared with the previous 10 issued weekly, this amount has decreased significantly, and the total amount of financing has dropped significantly - not more than 1 billion 500 million yuan.

The adjustment of IPO's issuing rhythm means that regulators want to stabilize the market, boost investor confidence, and adjust the speed of IPO based on market affordability and market development.

For market trends, this is no doubt a major positive news.

Generally speaking, the positive factors of bond market, exchange rate market and supervision policy are currently having a comprehensive impact on the market. In the coming period, the potential benefits of MSCI and bond can also be realized. Under the combined force, the five Dali stocks formed by the bottom of the A share W are getting more and more sufficient.

As a matter of fact, with the Shanghai Stock Exchange standing on the previous line, the market has returned to its long embrace.

More importantly, SSE 50 has risen 8% this year, and a large number of blue chips continue to create a new record. The bullish sentiment will gradually spread to more wait-and-see funds so as to drive the A share index up.

The day for A shares to go well is already on the horizon. Of course, only good stocks are available.

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