September Outlook: continued focus turned to high and volatile subject shares.

<P>: Http:// hearing, expected in September as stock movements, "Xianyihouyang, high shock box" trend. .Specific, early September high and volatile stock will continue the trend, during which the Shanghai Composite will test the 30 moving average support efforts, particularly if the policy side of the bad news is not issued, the stock index are expected to stabilize near the 30-day moving average. .Full month is expected to remain high possibility of a larger trend in turbulence box. .September operating strategy is: light index, heavy stock. .</ P> <P> 9 月份 attention plate: ① the spirit of international principles, in September suggested high concern, ports airports, electricity, fertilizer and other pre-or small value stocks compensatory growth opportunities; ② Daily News revealed good .the early stage of growth compensatory growth oversold stocks market will be in September the most important investment opportunities in the market. .Proposes a focus on "5.30" after the severe oversold market, the report shows good growth stocks oversold compensatory growth in September of opportunity. .</ P> <P> first, to judge from the macroeconomic trends, July CPI index hit a new high of nearly 10 years, reaching 5.6%, which indicates to some extent in the national economy is very obvious signs of inflation. .Early September to be announced in August CPI data, taking into account in August some of the uncertainty in the macro-economy, is expected in August CPI data will be a new high. .CPI data high, in large measure indicates that the economy has been very clear signs of overheating, excess liquidity of capital markets has begun to affect the real economy. .In order to curb inflation, is expected in September to take further tightening measures by management and its impact on the market can not be ignored. .</ P> <P> Second, determine the investment value of A-share market, according to the latest mid-year report published in translation, the weighted average of the two cities has reached the dynamic price-earnings ratio of 38.7 times. .Of particular note is that the two cities during the first half the current price-earnings ratio of listed companies has been considered the performance of growth factors, also includes investment income of listed companies surge in the first half of the non-normal factors. .In the absence of a "bonus cash dividends" mechanism under the premise of the current level is not low price-earnings ratio. .Distribution of earnings from the industry point of view, some preliminary undervalued blue chips rose sharply after 7-8 after two months, the weighted average of the current dynamic price-earnings ratio has reached 30 times. .In August I made the investment strategy of "blue chip market compensatory growth" investment theme of blue chips rose in August has been reflected in the basic process. .Power from the future in a rising market, although the spread of liquidity will push certain blocks in the capital market will continue to rise under the action, but the overall market price-earnings ratio of the market level analysis, blue-chip sector undergoing rapid compensatory growth in the market, the future market .more opportunities exist for the stock themes of the performance opportunities. .Stock is expected in September on the theme of pushing up stock investment opportunities, rising very limited. .</ P> <P> Third, the trade surplus, A cap stocks, the RMB exchange rate a positive correlation between the three. .Although the management of false trade surplus has caused stock market speculation on her guard, immigration supervision of speculative capital is increased, but changes in the trade surplus situation in recent months, following the June trade surplus hit a record high after the ., July trade surplus hit a new time high. .Total sales of RMB against the backdrop of the trade surplus on the exchange rate of the rigidity indicates a certain degree, is a large-scale speculative foreign capital into China capital market. .Quotes from the end of July actually running situation, the foreign speculative capital involved in A-share market is very obvious signs: edge of the plate with China, such as coal, nonferrous metals, real estate and other resources sector; lifeline of national economy and financial sector; food, agriculture and other .plates and other consumer concerns by foreign investors in late July from the plate after a hot mainstream market, the overall or larger. .Given the current foreign investment is still pouring into the Chinese market, the future management of foreign investment in the closely watched or not at the same time strengthen supervision and also to those who pre-or small, the industries favored by foreign investors continue to focus on, such as with the asset revaluation .the concept of highway sections, and China Minsheng fertilizer sector, reflecting the demographic advantage of the consumer sector in China "food, business and other." .</ P> <P> Fourth, from the global market Bijiaxiaoying point of view, and individual investors in QDII overseas investment market is not open before in a relatively closed A-share market in the capital boost, it may be out of the independent market, .part of the stock will have different capital markets relative to the premium; in personal investment overseas markets and opening up, with the stock market pricing with the price of iron will become law. .From the current distribution of A-share listed company's share price situation, some companies with H shares listed A share price is significantly higher than the H share price. .If the future of Hong Kong's H share stock market can not appear to rise rapidly, the personal investment and opening up foreign markets, a number of H shares relative to the higher premium of A shares will face pressure to a greater degree of value return. .Of course, in the role of international speculative capital, does not rule out A, H shares may be linked speculation. .On it, we can only be viewed in perspective of speculation, do not have the theoretical predictions and analysis is feasible. .</ P> <P> Fifth, by the U.S. subprime crisis, A-share market had appeared three days in mid-August high of a huge shock. .Stabilized in the surrounding market, after experiencing high and volatile A shares once again shock upstream, and reaching record highs. .A-share market in August indicates that the trend to some extent: the pace continues to accelerate in the international context, A shares subject to the future trend will largely affect the external market. .In view of the U.S. subprime crisis is not over, so, A-share market will continue to be subject to a large extent, the future trend around the market trend. .</ P> <P> Sixth, from a financial point of view of low interest rates and liquidity in the proliferation pattern of the same circumstances, in view of A shares of the special circumstances faced by the riches and the inflow of foreign capital, under the influence in September .A high and volatile stock market in the process, some sections or the performance of stock market opportunities still exist. .</ P>.