Cheng Siwei: Manniu pattern remains the same 30% of the investment value of stocks.

Cheng Siwei, former vice chairman of the Standing Committee of China on April 8 that China will continue the trend of the stock market Manniu before the Olympics may have a certain level of increase. .<P> He currently also insisted on the "Manniu" view of the problem to the National Research Council of the President of Taiwan, attended the speech said Cheng Siwei, the market continued to decline from more than 6100 points, has dropped to 3500 points .or so, but the bull market continues, the trend will continue Manniu, which can be analyzed from two points: </ P> <P> First, even if it is about 3500 points, but compared with the previous point, or rose 2245 .The. .He estimated that before the Olympics may have a certain level of increase. .</ P> <P> Second, he repeatedly said, do not put on the card index as a representative of the Chinese stock market. .Because the Shanghai index represents only 70% of China's listed companies, not representative of the Shenzhen listed companies; In addition, the Shanghai index is based on the total circulation to calculate the market value of the entire sample, there is a big deviation. .</ P> <P> the current market value of China's stock market is not equal to the total market capitalization. .The total market value in accordance with the result that the weight of a large blue chip account for particularly high. ."So can not just look at index, or to look at individual stocks." </ P> <P> Cheng believes that about 30% of the two cities still have investment value of stocks, these stocks after a sharp price adjustment, there is increased .opportunities. .</ P> <P> (http://) Cheng pointed out that the international bear market, some listed companies are often out of the market. .Bears turn in cattle, this part of the poor performance of the companies will not become black sheep. .But China's stock market bear market, is increasing the total number of listed companies, of which 30% of the top performance of the company, or about 400 companies have created almost all of the results, only a very small company behind the performance. .</ P> <P> "But in a bull market, their shares can also be speculation, causing the stock market all shares are high, so if there is risk, the underperformance stock investors must hold-up." He said. .</ P> <P> Cheng Siwei that probably go through three stages of this round of the bull market, which from December 2006 to last November, this stage of growth is extraordinary, even say irrational. .</ P> <P> Cheng said, "If you're cool think about it, is actually very simple, the stock market's fundamentals are the country's economic situation and the quality of listed companies, the country's economic situation and the quality of listed companies may not .Fan turned 3 in a year, so this price surge, it is certainly not sustainable. "This caused the depth adjustment. .</ P> <P> Cheng believes that public opinion on the issue raised most frequently stamp duty, stamp duty or income reduction can play a certain effect, but the effect is not too large, only short-term effects, the most important is to strengthen the underlying stock market .the system and improve quality of listed companies must be strictly investigated and dealt with inside information, fraudulent information, and malicious manipulation of stock prices to investors and create a just, open and fair environment, restore investor confidence. .</ P>.