Boshijijin Wei Fengchun let fly optimistic about the five market rebound – fund channel 孙羽幽本人真实图片

Boshijijin Wei Fengchun: let fly optimistic about the five big market rebound Fund Channel – a week after the holiday, A shares are subject to external shocks during the festival opened lower after a steady rebound, the main stock index rose. Among them, small and medium-sized stock index rose larger, partial stock index rose slightly smaller, of which the CSI 500 rose 5.6%, leading the other indexes. Market style differentiation is obvious, small and medium, high valuation and light asset style gainers, big market, underestimate value and heavy asset style increase is small. Large categories of industries, technology and cyclical plate leading, consumption growth in the middle, financial and real estate rose in the post. Overseas economy: large class assets show that risk preferences tend to improve. Do not rule out the stage of European monetary policy differentiation may appear to converge: the Fed’s March interest rate hike, the superposition of Europe and Japan in March may loose overweight, and this situation is very similar to 15 years at the end of September -10 month: the fed in September at the same time, halt the troops and wait, Europe at the end of easing is expected to increase. The reason was very similar to the current one: the RMB exchange rate unexpectedly depreciated, and the oil price plummeted. Domestic economy: the bright spot in the numbers comes from the huge expansion of credit in January. We believe that the main driving is steady growth, rather than credit demand or foreign exchange; market last week reacted positively, but the credit need to closely track the subsequent performance. Another concern is that the manufacturing industry, or in the case of policy overweight appear steady recovery momentum. In January, PPI fell by 5.3%, but narrowed compared with last month. Due to the impact of the Spring Festival, manufacturing activity should be slowed down, but manufacturing PPI performance is still improved, manufacturing sector has stabilized recovery momentum, the future of the recovery is sustained remains to be seen. In other public opinion, the government’s media control and content review may be further tightened. SFC leadership change, historically bullish overall performance of A shares. Put into operation, trend continue to be optimistic about this week’s rally, for several reasons, 1, overseas risk appetite; 3, to further reduce the pressure on the exchange rate; 3, market sentiment began to recover; 4, the Commission will stimulate short-term market changes. Industry sees light manufacturing, computers, electronic components, media and coal.

博时基金魏凤春:让反弹飞 看好五大行情-基金频道   节后一周,A股受节日期间外围冲击低开后稳步反弹,主要股指普遍上涨。其中,中小盘股指涨幅较大,偏大盘股指涨幅稍小,其中中证500上涨5.6%,领涨其他指数。市场风格分化明显,中小盘、中高估值与轻资产风格涨幅居前,大盘、低估值与重资产风格涨幅较小。大类行业方面,科技与周期板块涨幅领先,消费涨幅居中,金融地产涨幅居后。   海外经济方面:大类资产显示风险偏好趋于提升。不排除阶段性出现欧美货币政策分化出现收敛的可能:美联储3月不加息,叠加欧日3月可能加码宽松,这就与非常类似15年9月底-10月的情形:美联储9月按兵不动,于此同时欧日年底宽松预期加大。其原因当时与当前亦十分类似:人民币汇率意外贬值,及油价暴跌。   国内经济方面:数字上的亮点来自1月信贷巨幅扩张。我们认为其主要驱动是稳增长,而非信贷需求回暖或者外债置换;市场上周对此反映积极,但信贷后续表现需要密切跟踪。另值得关注的是,制造业或在政策加码的情况下出现企稳复苏的势头。1月份PPI同比下降5.3%,但相比上月下降幅度有所收窄。由于受到春节的影响,制造业活动理应有所放缓,但制造业PPI的表现依然有所改善,显示制造业有企稳复苏的势头,未来复苏是否具有持续性仍需观察。   其他舆情方面,政府在传媒方面的管制、内容审查可能会进一步收紧。证监会领导更换,从历史来看总体利多A股表现。   落实到操作上,大势上继续看好本周反弹,基于几点理由,1、海外风险偏好回升;3、汇率压力进一步减轻;3、市场人气开始恢复;4、证监会人事变动会刺激短期市场表现。行业看多轻工制造、计算机、电子元器件、传媒和煤炭。相关的主题文章:

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