Four seasons blue horse Pole Station tuyere-66814

The fourth quarter of blue chip stocks Whitehorse station on the air if you use one word to sum up the characteristics of recent A shares, "three low" may be the most appropriate, low risk, low volatility, low turnover created a weak market. However, behind the market volatility slowdown is anchaoyongdong. Shareholders of listed companies holdings of industrial capital surges, positive sense, "three low" prices might not last long. Insiders said that at present, not the probability of risk preference significantly improved, the fourth quarter breaking factors are more likely to come from profit end. The market is expected A shares earnings growth of listed companies will increase the four quarter, the future structural performance is expected to start around the game. "Three low" prices dominate the market in the first quarter of A shares is the core word "adjustment". Circuit breakers superimposed devaluation of the renminbi to trigger the market "1000 point drop", financial panic fled. Two months later, the market has entered a relatively long period of repair. The two quarter core word A shares is "shock". Drop the haze gradually dispersed, market pessimism is gradually restored, some investors look forward to "decent" rebound, but the stock amount cannot follow behind to break through predicament, several high several times down, investors continue to be killed. The three quarter is coming to an end, if the market characteristics summed up in one word during a recent period, the "three low" may be more appropriate, low risk, low volatility, low turnover created a weak market. First of all, the market risk appetite continues to decline. In the regulators’ supervision according to law, strict supervision and comprehensive supervision "ideas, mergers and acquisitions to barbaric growth, individual demon shares by regulations. At the same time, the market risk appetite will continue to decline, stocks popular with occasional hot topics tend to shine, "one day tour" ended. In the A stock market, the gem is known as the risk preference of "barometer", its performance in the three quarter is extremely dull. As of September 29th, the gem index K line to close out the two Yin, a candle, during the cumulative decline of 3.54%, far behind the market. Market risk appetite was weaker. Secondly, the volatility of the market continued to decline. The highest point between Shanghai days and the lowest point since August began to quickly narrow the gap. In September 8th just days the amplitude of 12.88 point hit a 14 year low, this record was in September 20th with 11.94 points was again broken. In the stock market, showing a "thousand sideways" scene, field stock funds institutions and retail investors can only passively "zombie", after widespread concern by the market to limit death squads and other active funds are now almost rarely infested. This will dramatically reduce market volatility, capital into a vicious spiral of the cycle. Finally, trading in the doldrums, outside the capital to come in. In the background of "asset shortage", the property market, bonds and other asset categories are massive capital allocation, especially the real estate become attract large. However, in many of the assets, A shares into the capital seems to "fayan". Not only the influx of incremental funding, the existing stock of capital in slow consumption, continuous outflow of securities margin. In September, single day turnover of the Shanghai and Shenzhen two city was reduced to 300 billion yuan, while a year ago, A shares traded.

四季度绩优白马股站上风口 如果用一个词来概括近期A股特征,“三低”或许最贴切不过,低风险偏好、低波动、低成交造就了疲弱的行情。不过,在市场波动趋缓的背后却暗潮涌动。上市公司股东减持汹涌,产业资本积极举牌,“三低”行情恐难持久。业内人士表示,目前来看,风险偏好明显改善的概率不大,四季度破局因素更可能来自于盈利端。市场预期四季度A股上市公司盈利增速会提升,未来围绕业绩的结构性博弈有望展开。“三低”行情主导市场一季度A股的核心词是“调整”。熔断机制叠加人民币贬值触发大盘“千点下跌”,资金出现恐慌性出逃。随后的两个月,市场进入了一个较为漫长的修复期。二季度A股的核心词是“震荡”。大跌的阴霾逐渐散去,市场的悲观情绪也逐渐修复,部分投资者憧憬“像样”的反弹出现,但股指突破后面对量能无法跟进的窘境,几次冲高又几次回落,投资者的热情不断被消磨。 三季度即将结束,如果用一个词来概括最近一个时期的市场特征,“三低”或许较为贴切,低风险偏好、低波动、低成交造就了疲弱的行情。首先,市场的风险偏好继续走低。在监管层“依法监管、从严监管、全面监管”的思路下,并购重组难以野蛮生长,个别妖股受到规范。与此同时,市场的风险偏好也不断走低,概念股颇受冷遇,偶有题材热点闪亮,往往也以“一日游”告终。在A股市场上,创业板被称为风险偏好的“风向标”,其在三季度表现却极为平淡。截至9月29日,创业板指数月K线上收出两根阴线、一根阳线,期间累计下跌3.54%,表现远远落后于大盘。市场风险偏好明显走弱。 其次,市场的波动幅度持续走低。8月以来上证综指的日内最高点和最低点之间的差距就开始迅速缩小。9月8日刚以日内12.88点的振幅创下14年新低,这一纪录随即就在9月20日以11.94点再度被打破。在个股上,市场上呈现出“千股横盘”的景象,场内存量资金的机构和散户只能被动“僵尸化”,此前受到市场广泛关注的“涨停敢死队”等活跃资金现在几乎鲜有出没。这又会加剧市场波动率的降低,资金陷入了一个恶性循环的怪圈中。 最后,交投低迷,场外资金不愿进来。在“资产荒”的大背景下,楼市、债券等大类资产均获得资金大举配置,特别是房地产成为吸金大户。不过,在众多资产中,A股似乎入不了资金的“法眼”。增量资金不仅未能涌入,现有的存量资金也在缓慢消耗,证券保证金连续流出。9月,沪深两市的单日成交额一度降至3000亿元左右,而一年前A股的成交额还以万亿为计量单位。相关的主题文章: