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China tape featured Yawei:
Restructuring will continue to
After the adjustment of the third quarter, the overall risk of the
stock market to some extent be released. The next stage of structural
adjustment will continue, the GEM can smooth operation of the early
introduction of market confidence will have some impact. Will focus on
the layout for next year's investment to explore benefit from
sustained economic recovery, valuation and reasonable variety.
SDIC Ruiyin Jing Yuan Ye gas industry:
Digestion by shock pressure does not exclude
For monetary policy, we expect in the fourth quarter, the central bank
will continue to maintain a moderately easy monetary policy. Before
full recovery in the economy, the central bank in the fourth quarter
to adjust the deposit reserve ratio, raising interest rates and other
monetary policy tightening is unlikely. With the rebound in economic
fundamentals and sustainable, a gradual improvement in profitability
of listed companies, after the market fell gradually into the
reasonable range of valuations, the market will come back to do more
than warm. But the short-term IPO, refinancing of listed companies and
the Growth Enterprise Market of the issue, the market will have some
impact on capital side, do not rule out market volatility in the short
term to absorb through the pressure of the valuation.
Tianyi Chen Ge rich countries:
Market drop is limited
The third quarter of 2009, A-share market appears a deep rate
callback. We believe that the situation in China's economic recovery
has been relatively uncertain background, the market drop is limited.
Looking ahead, the global economy is gradually stabilizing and
recovering, the rapid recovery of China's macroeconomic trends will
continue, A-share market after a shock adjustment, will remain an
upward trend. But the market style will probably change in the
industry and the rise in individual stock liquidity will be promoted
and expected to promote the gradual shift to performance-driven.
Cathay Golden Dragon King Air:
In the fourth quarter will not take the radical strategy
Market has experienced rapid rise and abrupt fall in the adjusted,
came back to the relative balance of. Sector allocation and individual
stock selection in the fourth quarter, the contribution of the
portfolio will be more important than asset allocation, the current
A-share market valuation is still in reasonable range, a clear trend
of investment opportunities has not yet appeared, so the fourth
quarter will not take aggressive strategic asset allocation strategy,
the overall risk portfolio at a relatively low level. The core
strategy will focus on "structural adjustment" that is,
economic restructuring and structural upgrading the main line,
continue to increase consumer configuration, and focus on low-carbon
economy (LCE) related to investment opportunities. As coping
strategies, ample global liquidity which led to inflation expectations
still benefit from the upstream resource-based industries continue to
maintain a proper configuration. In addition, a clear profit model,
good in small cap growth species will also be the focus of our fourth
quarter, the investment direction of the layout.
South Galaxy sound money Rui Wang Zhongbo:
Concerned about the financing and the impact of GEM on the Main Board
The fourth quarter, we judge the situation in the global economic
recovery, good environment, the market is not big down the risk level
can still be in the present context of the valuation, with the
recovery of corporate profits, the market is still up in space . The
current focus on the main contradiction between supply and demand
imbalance, IPO, refinancing excessive pressure, in addition to the
international board and the return of red chips are not far away. GEM
also faced with the fourth quarter, the opening panel, and then on the
Main Board will form a larger role in diverting also need to observe,
we will closely follow the relevant policy changes.
In the fourth quarter, we will maintain a more active asset allocation
strategy, the stock positions to maintain a relatively high level,
with low debt. During the quarter we need to observe the early stage
finance and trading on the Main Board GEM markets, so if the market
adjustment later can be more optimistic.
Fund Xinghua Yang Kun:
The stock market into the consolidation period
Compared with the fourth quarter of 2008, the world's major stock
markets during the financial crisis from the bottom to rebound
sharply. But the future economic policy choices facing the dilemma: On
one hand, as lax monetary policy crisis has led to the threat of
inflation and asset bubbles; the other hand, the basis for economic
recovery remains fragile, monetary policy is too hasty withdrawal
could lead to recovery of mortality. How to Quit loose monetary policy
is the policy makers of a severe test. Therefore, we expect the
prudent economic policies are likely to enter trial and error,
discretionary stage, the stock market correction period will be
entered. Will take the investment strategy of cautious optimism, to
enhance stocks of bottom-up, the combination of a relatively flexible
configuration in response to economic uncertainty.
As of October 28, 1035 in Shanghai and Shenzhen listed companies
disclosed a total of three quarterly. According to the latest
statistics, "Securities Daily" Market Research and
Statistics found that comb through classified and insurance funds in
the 151 listed companies, the list of top ten shareholders of tradable
shares, the end of the third quarter, total number of shares
3,263,000,000 shares, representing a quarter 20.98 million shares at
the end increased 55.52%; by third quarter closing prices, the stake
worth about 33.109 billion yuan, 7.637 billion yuan increase over the
previous period, an increase of 29.98%. Clearly, the impact of
economic rebound, three quarters of the insurance funds have also
increased the scale of investment on the A shares, more than the
number of change, more investment has also changed, 76 blue chip
stocks fought the object into the insurance fund.
By comparing the three listed companies in quarterly newspaper and
found that the insurance funds for new shares of 76, exit 54; Masukura
Unit 26, lighten up shares 35; shares remained unchanged 12. From the
above data, three quarters of the insurance funds hold shares of
individual stocks are pulling much more than home, reducing the number
of companies funded, the overall operation of the positive, indicating
the insurance capital of the fourth quarter of A-share movements
Notably, three quarters of significant market turbulence, the card
index was down 6%, in this context, a comprehensive insurance funds
for positions, to some extent shows up next year, its fourth quarter,
the market speculated that hot spots .
From the new unit in the third quarter the number of new insurance
capital stocks over 1,000 shares, 20 were new insurance capital of 500
million shares over the number of stocks are 42. Among them, China
Vanke A, Jidong Cement, Chinese architecture, Midea, China Life and
other food Tunhe six the number of stock holdings of the insurance
over three quarters of more than 2,000 shares. China Life held in the
third quarter, shares of China Vanke 19,353.08, representing
outstanding shares of 2.06%, to become the second largest circulation
Vanke shareholders; China Life holds Jidong Cement 9410.09 million,
China Life Insurance There are three different group in the company
ranks the top ten tradable shareholders, were first settled. Can be
seen, its insurance companies are more optimistic about the future.
Troops from Masukura, three-quarter the number of insurance funds
Masukura stocks over 200 million shares of 13, the number of insurance
funds Masukura 200 million the following stocks have 13. One, Minsheng
Bank, investment real estate, FAW Xiali, Guangyu Development, 100
Union shares, the Great Northern Wilderness, and Chinese enterprises
seven the number of stock holdings of the insurance over three
quarters of more than 1,000 shares, their shares, respectively 959 422
800 Unit, 2,637.23 million shares, 2,266.73 shares, 1,609.39 shares,
1,538.32 shares, 1098.54 million and 1,058.9 million shares.
Holdings of individual stocks from an industry distribution, are
mainly concentrated in the chemical industry, pharmaceutical
biotechnology, real estate, building materials and machinery. Which
holds 16 seats chemical, biological medicine 13 seats, 11 seats real
estate, building materials and machinery equipment, 8 seats, 8 seats,
as well as commercial trade also accounted for seven seats, forestry,
animal husbandry and fisheries, and food and beverage 6 seats 5 seats.
Market participants believe that a number of insurance companies in
manufacturing, especially chemical and pharmaceutical concern, may be
from the future of these industries to have better development
considerations. (

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