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新金沙娱乐平台:Social security public offering QFII transfer position: evacuation of Baima blue-chip jiaochang ChiNext not far?

时间:2018/5/3 18:32:51  作者:  来源:  浏览:0  评论:0
内容摘要:Fund transfer positions exposed path: white horse blue-chip evacuation Opening GEM stockRecently, A-share market into the "white horse ...

Fund transfer positions exposed path: white horse blue-chip evacuation Opening GEM stock

Recently, A-share market into the "white horse stumbles, a small ticket rest," the stage hit new lows. With the fall of the index, the valuation of the Shanghai Composite Index and the Shenzhen Component Index fell to a level of two or three years ago. The FBMACE is still at a historically low level.

Brokerage analysts believe that the A-share market has entered a low valuation range and the upward momentum has been accumulating. After confirming the bottom of the large-cap stocks, it may establish a platform for the valuation of growth stocks to form a “blue-chip set-up and grow up to play” situation, but the restoration of market sentiment will not happen overnight.

funds transfer positions

May 2, following Gree , Vanke A, Erie shares , China Ping An Ping An Bank , , Poly Real Estate and other white horse leading frequently "diving", Dong'e Ejiao also joined the ranks of "White horses lose their hooves."

Dong'e Ejiao jumped wide open on the 2nd and closed the daily limit board directly in the afternoon. At the close, there were still 23,500 hand orders hanging at the “sell 1” level.

The unsatisfactory performance is an important reason for the stock's falling. On the evening of April 27, Dong'e E-Jiao announced the first quarter of 2018: achieved operating income of 1.696 billion yuan, an increase of 1.17%; net profit attributable to the mother of 609 million yuan, a year-on-year increase of 0.8%; deducted non-net profit of 597 million yuan, a year-on-year increase 2.02%.

"This year policy changes have undergone major changes and have strongly supported the development of new industries. The market style has begun to change. The growth of science and technology is gaining momentum. Baima shares have retreated to the second and third lines; factors such as excessive gains, profit taking, and unsatisfactory performance have all accelerated. the unrest White Horse Unit camp, causing a chain reaction, competing to sell. "investment adviser, director of the Institute of Securities Liu Guanghuan represents a new era.

2017 White Horse blue chip bull market, SSE 50 index rose 25.08 percent in 2017, 300 Shanghai and Shenzhen index rose as high as 21.78 percent over the same period GEM mean number fell 10.67%, market differentiation is very clear, the White Horse Unit such as Gree, 2017 Erie shares rose more than 80%.

Huatai Securities analyst rock had believed white horse stocks fell, there are three possible reasons: First, the profit dimension, due to the overall high valuation of shares of White Horse, the market for its higher performance expectations, prone to actually lower than case expected; Second, the trade dimension, since 2017 the White Horse shares rose significantly, more profit, profit-taking by financial results window; Third, the transfer of chips dimensions, with the GEM board with poor earnings go to expand , highlighting the cost growth stocks, 2018Q1 public fund holdings of GEM display position for the first time since 2016Q2 upgrade.

outlet with policy shifts to technology stocks, blue chip funds are accelerating the withdrawal of a white horse, and turned to the GEM, a quarter funds transfer positions from the situation is evident. According Everbright Securities data, as of the end of the first quarter of 2018, the Fund Awkwardness (excluding Hong Kong) stock market capitalization accounted for the board, small board, the GEM were 62.51%, 23.62%, 13.87%, qoq change -4.52, 0.88,3.64 percentage points.

"fund positions reversed the ratio of the size of the disk past six big strong small weak quarterly trend: the proportion of positions on the board decline in the proportion of positions on small board and GEM rise; on the board is low with the state of small plates and GEM in overweight status. " Everbright Securities analyst Xie super said the fund allocation ratio of GEM changed the continued downward trend since the first quarter of 2016, compared to the configuration of the board since the end of 2016 rising trend that began in the first quarter, began to peak in.

Not far from the bottom

In the context of reduced market risk appetite, the correction of the Baima stock has undoubtedly accelerated the pace of the market. Looking back at the trend for the first three months, the Shanghai Composite Index has fallen 12.54% since the high of January 30, and the K-line pattern has shown a downward trend. During the same period, the cumulative declines of the Shenzhen Composite Index and the SME China Board Index were 8.9% and 6.59%, while the GEM Index showed a defensive performance.

Huaxin Securities analyst Yan Kaiwen believe that the major indices of adjustment for three reasons: First, large variety of static profit cycle is good, the valuation was low, but still generally lower, cause a drag on the index; the second is financial deleveraging into the deep water area, in the local financing platform for local debt, state-owned enterprises leverage constraint is strong, sinking into the peak of the background, the limited role of hedge RRR, liquidity conditions continued convergence (repo, dismantling that is a significant increase in interest rates is exemplified), reduced risk appetite and the central valuation; the third is the peak of the 2015 cross-border mergers and acquisitions in the three-year commitment period expires, will usher in a goodwill impairment scale this year.

In May, among stocks, the “five poor” image has cast a shadow on investors’ minds, which has made investors more cautious about the market where the volatility has increased.

this really the case?

Statistics show that during the 15 years from 2003 to 2017, the Shanghai Composite Index fell 8 times in May, accounting for 53.33%. It is almost even with the rising year. Therefore, the so-called “five poor” has been in the market in recent years. no data support.

Conversely, after nearly three months of adjustment, the A-share market entered a low valuation range, and the upward momentum was being saved. On May 2, the P/E ratios of the Shanghai Composite Index, Shenzhen Component Index, SME Board and GEM Board were 13.83 times, 23.78 times, 28.8 times and 42.5 times, respectively.

Among them, the valuation of the Shanghai Composite Index returned to February 2016 levels. In February 2016, the Shanghai Composite Index bottomed out to 2638.96 points, exactly the bottom of the stage. After this, the Shanghai Composite Index oscillated and rebounded. By the end of January 2018, the cumulative rebound rate reached 18.82%. Shen Chengzhi is back to the level of April 2015, the valuation of small and medium-sized board is lower than the historical average, while the GEM is at a historically low level.

Haitong Securities Chief Strategy Analyst Yan Yugen said: “The probability of the Shanghai Composite Index's 2638-point valuation at the end of the period is large, and the market sentiment has changed. The investor’s expectations of the macro economy are not optimistic, similar to 2016-4. In May and April-May 2017, the first two market sentiment repairs have a process, this time will not be an exception.”

Guohai Securities believes that changes in the market environment will take time and require performance to be honored. Need to gradually fall to the ground. However, the shrinking volume of Shanghai 50 and the Shanghai market means that the market is not far from the bottom. "A necessary condition for the next stage, A-share market will go up the stage, singing the small-cap stage, while recognizing at the bottom of the market is growing 'surprisingly' of."

hit blue-chip concern

Tianfeng Securities strategist Liu Chenming said, from the industry structure point of view, this year the growth of the industry turn a good performance, is supporting the GEM CSI 300 refers to the relatively better performance of the core elements of the trend.

data show, all A shares 2017 and 2018 Annual a quarterly net profit growth of 18.9% and 14.9%, respectively, slowdown; a small quarterly and annual growth plate was 19.6% and 19.5%, respectively, by speed flat; GEM (excluding Winchester, music, as the light, firm Switzerland) Report and a quarterly growth rate was 7.7% and 27.8%, respectively, GEM 50 (excluding ray media ) was 10.4% and 27.6%, a quarter growth rate have a more significant recovery. Overall, the 2017 annual report performance of each sector was lower than expected, but the performance of the ChiNext in the first quarter of 2018 was slightly higher than expected.

The profit gap between GEM and Mainboard is expanding. According to Huatai Securities estimates, first quarter 2018 non-financial motherboard cumulative net profit growth rate dropped to his maternal 25.5%; 2018 a quarter of the GEM (excluding Wen's shares , Letv ) owned by the parent net profit growth rate since the first quarter of 2017 since the first time exceed the board non-financial, 34.5%; GEM board with his maternal net profit growth widened from -18.9% in the third quarter of 2017 to 9% in the first quarter of 2018.

"motherboard performance growth rate down, the GEM board and widened profit, ROE repair into the second half, net profit difference GEM will continue to follow its expansion, growth stock valuation increase is expected to continue." Zeng Yan said.

Ping An Securities analyst Wei Wei, Zhang Yajie said that the current A-share earnings has two features, one sector earnings pattern has reversed, ie profit higher than the GEM board, higher than the growth of blue-chip; the second is the GEM internal earnings differentiation increase, earnings growth index of 50 is much higher than the GEM GEM.

"policy tone makes the market-style subtle changes, to maintain this growth style biased judgment, but the configuration value of the recent cycle value sector has improved." Great Wall Securities analyst, said Wang Yi, growth stocks, the recommendations focus quality "New Blue Chip ". The GEM reported better quarterly, but the semi-annual report still faces the risk of impairment of goodwill. It is optimistic about the military and new energy industries in the primary industry. Financial value is expected to usher in the repair window. Accelerate the pace of opening up financial superimposed MSCI's into positive cash flow value of blue-chip performance, the consumer sector has experienced a wave of pre-financial adjustments, some high-quality value leading valuation from an international perspective is not too expensive, may gradually usher in a better configuration Hours.

QFII latest trends holdings exposure: 4 shares held by the top ten Awkwardness get together accounting for over five percent

market value according to the State Administration of Foreign Exchange to the latest data show that in April a $ 100 million new qualified foreign institutional investors QFII amount. As of April 24, QFII approved the amount of 94.459 billion US dollars.

In order to further expand the QFII approval quota, together with the upcoming foreign participation in the MSCI Index in June, brokers are generally expected to enter the 7-89456_157_65473_9 cash flow in the A-share market in the second half of this year.

Well, what foreign stocks do you like to buy? Which targets are more popular? Just as the listed companies disclosed their accounts in the first quarter of 2018, we may be able to snoop through the latest changes in QFII positions.

bank shares most popular

number of pharmaceutical and biotech shares up to 21, according to data news

laboratory statistics, as of the end of the first quarter, the top ten tradable shareholders 280 A shares in the emergence of QFII figure, the total shareholding The number of 8.6 billion shares, the total market value of 143.8 billion yuan.

The Bank is the largest heavy industry, accounting for approximately 27.6% of the market value weight, followed by food and beverage , household appliances, pharmaceutical and biological industries.


number of stocks from the point of view, to pharmaceutical and biotech highest of 27. Followed by chemical industry, transportation, all over 20. It is worth noting that the QFII was absent from the defense industry and held two in the previous quarter. In the first quarter, QFII dropped out of 6 and 3 vehicles in the two major industries, 7_89456_186_65_97_65473_9, and . The newest new industry is the media, with 5 more, followed by the leisure and communications industries, with 4 new.

get together hold 4 shares


in 72 QFII among them, nine A-shares held by 10 or more, where the world's second largest fund company 's leader in emerging market shares refers to the group gold (exchange) most investment dispersion, A shares held by 48, including Lianyungang , Canton hundred shares , Quanjude and so on. The second place is the Swiss United Bank Group, which holds 35 A shares.

However, the QFII with the highest total capitalization of shares is not the above two, but the Netherlands Anzhi Bank Co., Ltd. The institution only had a single share of 17.228 billion yuan on behalf of the Bank of China, .


Specific to individual stocks, as of the end of the first quarter, many A-shares were held together by QFII. Among them, Shenzhen Airport up, there are 5 QFII holdings. In addition, Venus , Baotaigufen , Dashenlin has four QFII holdings; stake from the point of view, Dashenlin the highest proportion of outstanding shares more than 20%.


ten Awkwardness Moutai most expensive column

in the first quarter of QFII Awkwardness in the top ten, bank stocks are loved as always, there are three top five. In addition, QFII also heavily loaded with Midea Group , Qingdao Haier, Gree, Hikvision such as the White Horse Unit. Ten top positions occupy a total of 55% of the weight of the entire QFII position.

Of the 10 stocks, the most expensive is the A-share first high-priced stock - Kweichow Moutai! Recalling that in 2017, Kweichow Moutai continued to hit a new high, with an annual stock price increase of up to 112%! From the beginning of 2017, RMB 329.3/share opened continuously and broke through the highs of 400, 500, 600 and 700 yuan!

However, by the end of March this year, Moutai has fallen below 700 yuan, the latest closing price of 667.83 yuan. This year, the cumulative decline is 4.25%! Nevertheless, the institutions remain very optimistic about this year's performance Guizhou Maotai, for example Dongxing Securities, Securities and other target price in more than 900 yuan.


this seven stocks

QFII stake over 10%

2018Q1 end of the period, QFII warehouse holdings accounting for the proportion of single stock outstanding shares over 10% of a total of 7, compared with the end of 2017Q4 reduced more than five.

above ten Awkwardness in the three bank stocks QFII a quarter stake in excess of 10%, compared with year-end 2017, Bank of Beijing, Bank of Ningbo no change in ownership, Nanjing Bank holdings were 3.49%.


It is worth mentioning that the proportion of tradable shares account for holdings in the TOP10 list, Nadu is a quarter QFII shares New stocks, stake to 9.6%. The stock was listed on the Shanghai Stock Exchange on January 16 this year. The Hongkong and Shanghai Banking Corporation held a 9.6% stake in the first quarter and became the largest tradable shareholder.

Nadu shares a quarterly show, the first quarter of this year to reverse the effects of last year dragged down by resources do not match with the shipments made revenues 4.702 billion yuan, an increase of 11.6%; net profit attributable to shareholders of listed companies 9983.10 million, an increase of 185%.

QFII Opening 59 shares

14 only holdings of more than 10 million shares!

21 Data News Laboratory statistics found that QFII concentrated in the first quarter of the chemical, electronics, machinery and equipment, food and beverage industries.

From the perspective of the number of additions, 2018Q1 has 14 stocks and over 10 million shares. The highest number of jiacang stocks is Baosteel . It has increased the holding of 65.85 million shares, making the number of QFII holdings at the end of the first quarter reach 146 million shares, accounting for 0.66% of Baosteel's outstanding shares.

In addition, CITIC Bank , Qingdao Haier, media South Africa, the number of holdings of more than 50 million shares; the number of LaSalle Bank , FPI , Hytera and other holdings has more than 1000 Shares.


New 84 shares

This stock bought more than 100 million shares!

Which stocks have become the new darling of QFII?

21 Data News Laboratory statistics found that QFII had 84 new shares in the first quarter. Among them, the number of new stocks of 17 stocks is more than 10 million shares.

“The most favored” is Construction Bank . In the first quarter, QFII bought 130 million shares. In terms of industry distribution, the pharmaceutical biotechnology industry has the largest number of stocks, with nine, followed by the computer industry, with seven.


65 Only stocks have been reduced!

QFII reduced the holdings of 65 stocks in the first quarter. These stocks are concentrated in the pharmaceutical biotechnology, electronics, transportation, food and beverage industries.

The largest number of reductions was the Bank of Nanjing, which reached 280 million shares! Followed by Conch Cement , Yutong Bus , Wuliangye , Thailand shares etc., reduction of the number more than 10 million shares.


Exit 80 stocks of the top ten shareholders

the first quarter, QFII out of the maximum of 80 stocks of the top ten shareholders seats, electronics, pharmaceutical and biotech industries, each with eight.

exit stocks, including stock price gains this year, some good stocks, such as electronic , Tony Yasui food , Plymouth pharmaceutical , dawn stationery , people , these stocks rose this year, More than 20%.


social security funds coming 108 A shares of the top ten tradable shareholders to sell Moutai

Annual Report 2017 A-share listed companies have formally ending the social security fund as the market leader and leader in value investing, which has been much investment route attention.

surging News correspondent statistical data found that the list of the top ten tradable shareholders a total of 553 listed companies in the emergence of the social security fund figure. The social security fund holds a total of 26.043 billion shares, and the stock market value at the end of 2017 reached 242.792 billion yuan.

terms of sectoral distribution, the social security fund preference for medical and biological, chemical and machinery industries. Top ten circulation

In addition, the social security fund at the end of 2017 a total of 108 shares New shares the list of shareholders, holdings of 251 shares, compared with 176 stocks holdings of stocks, but also from the social security fund only 148 stocks of the top ten list of outstanding shares disappear.

Of particular note is that the Social Security Fund to sell Moutai (600 519) and Construction Bank (601939), exit the top ten list of outstanding shares of these two stocks. Top ten tradable shareholders list

market value of shares from the data displayed on the front

appeared 553 A-share listed company point of view, the social security fund's holdings have a market capitalization of over 10 billion yuan of two A-share listed companies, all banks.

ranked first is the National Social Security Fund 105 combination, hold 9.797 billion shares Agricultural Bank (601288), but the stake of 3.33%, corresponding to the market value of up to 37.522 billion yuan at the end of 2017.

National Council for Social Security Fund held 1.876 billion shares of Bank of Communications (601 328), there was only 4.78 percent stake, at the end of 2017, corresponding to the market value of up to 11.659 billion yuan.

proportion of total outstanding shares from the point of view, the social security fund holdings accounted for more than 10% of the total of eight stocks, including open Yun shares (300,577), Selen Science \u0026 Technology (002,341), Millenia health (002 044), energy saving wind power (601,016), Rip biological (300119), Rongtai health (603,579), Spring Airlines (601,021) and Connie electromechanical (603,111).


social security fund holdings accounted for distribution of outstanding shares over 10% of the stocks

industry, in 28 industry sectors in Shen Wan, 553 stocks are held by the top five social security fund distribution for the pharmaceutical industry, biological, chemical , machinery, electronics, and utility, respectively, 50, 48, 46, 39 and 32. The list of top ten tradable shareholders before

New 108 stock

data show that 553 A-share listed companies in the top ten tradable shareholders before the social security funds coming out, there are 108 A-share listed companies who are new to the list , accounting for nearly one-fifth, showing that in 2017 the Social Security Fund actively expand the scope of investment.

distribution plate 108 from the SSF, the new presence holdings of view, slightly more than the number of stocks motherboard CSI record number of small units; wherein the small plates 27, GEM 19, Shanghai Stock Exchange and Shenzhen respectively motherboard 14 and 48 only. This situation was exactly the opposite in the third quarter of 2017. At that time, the social security fund had a new holding of 68 shares, of which, the number of small and medium-sized companies was slightly more than that of the Shanghai and Shenzhen stocks, which were 36 and 32 respectively.

Specifically, the 108 stocks in the Social Security Fund 2017 Annual Report of the New stationed, a total of 49 stock market value of shares of social security funds over 100 million yuan, of which a total of six stocks market value of shares of more than 500 million yuan, including Tong Kun shares (601,233), Branch dawn (603,019), Zhejiang pay families (002,061), Guoxin Securities (002,736), Kai Di Sangde (000,826), Wingtech Technology ( 600745).

Tongkun (601233) was held by two social security fund portfolios, holding a total of 27,768,900 shares and holding a stock market value of 625 million yuan, ranking first in the stock market value of social security funds. Tongkun shares is a traditional chemical fiber manufacturing enterprise and it is an industry leader. The 2017 annual report shows that the company achieved operating revenue of 32.81 billion yuan, an increase of 28.3% year-on-year, and a net profit attributable to the parent company of 1.761 billion yuan, a year-on-year increase. 55.5%.

pay Zhejiang Branch (002,061) also held two social security fund portfolio, together holding 3688.05 million shares, the market value of 564 million yuan, accounting for A shares in the proportion of the outstanding shares of 8.14%, is the social security fund holdings accounted New the highest proportion of outstanding shares a shares of a stock.


social security fund holdings worth more than $ 300 million stock holdings of 251 stocks

addition to the 108 new social security fund stationed stocks, there are 251 stocks to obtain social security fund holdings.

which Zijin Mining (601899) to obtain social security fund holdings of 101 million shares to 854 million shares, representing 5.41% of outstanding shares at the end of 2017, such a large stock holdings of behavior but also to become the new social security fund at the end of 2017 increasing the number of shares of stocks ranked first and fifth of the market value of shares.

In fact, the stock in the third quarter of 2017, namely to obtain social security fund holdings, holdings of the social security fund was 303 million shares to 753 million shares, representing 4.76% of outstanding shares.

from changes in market value of shares of view, most of the growth to the genus Gree Electric Appliances (000 651), the unit won two social security fund portfolio holdings 4437.89 million in the fourth quarter of 2017, total outstanding shares increased from 0.9% to 1.64%, but the market value of shares has soared from 2251 to 4290 million yuan. Gree’s share price rose 13.06% in the fourth quarter of last year and hit record highs repeatedly.


social security fund at the end of 2017 the number of new shares of the top ten stocks

Of particular note is the top ten list of outstanding shares from the social security fund in the disappearance of 148 stocks, including Moutai (600,519) and China Construction Bank (601939 ), excluding social security funds ranked highest stock market value of shares of first and second and third. These two stocks are all stocks that were significantly increased by the social security funds in the third quarter of 2017.


stocks excluding social security fund holdings before the stock market value of the top ten

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the phone can buy a fund account, click here to download immediately 7_8 9456_644_65473_9003095
Fund Code fund referred the past year operating income fee
519772 Bank of newborn vitality flexible Allocation 53.15% 1.50 % 0.15% purchase account to buy
Central Europe Healthcare mixed A45.62% 1.50% 0.15% purchase account to buy cutting-edge medical
001717 ICBC shares 38.05% 1.50 % 0.15% purchase account purchase
260108 Invesco Great Wall of emerging growth mixed 37. 15% 1.50% 0.15% buy ten thousand new accounts to buy
519196 Blue Chip Flexible Allocation 32.71% 1.20 % 0.12% purchase account purchase
Source: Oriental Fortune Choice data , Galaxy Securities, as of the date: 2018-05-02





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