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澳门新金沙国际娱乐:Volatility and structural opportunities coexist Focus on growth stock investment opportunities

时间:2018/3/28 18:09:07  作者:  来源:  浏览:0  评论:0
内容摘要:Views on the market: Volatility and structural opportunities coexist \n? 1, Short-term disturbance analysis: Trade frictions and Fed rate hi...

Views on the market: Volatility and structural opportunities coexist

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1, Short-term disturbance analysis: Trade frictions and Fed rate hike together lead to

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The Fed’s interest rate hikes and trade frictions between China and the United States have caused the recent market volatility to increase. We believe that at present, China’s real economy is generally stable, its economic structure is constantly optimized, and currency and exchange rate policies are also relatively independent. Therefore, the market need not be overly pessimistic.

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2 Looking forward to the A-share market this year: Volatility and structural opportunities coexist

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1 Volatility will increase: The first is the domestic factor. Over the past years, China has been developing rapidly in an environment of credit expansion. This process has also boosted the economy while also accumulating risks. Currently, credit contraction is gradually starting to reduce the outbreak of systemic risks. Possibility, and credit contraction has a certain degree of uncertainty on the economy; followed by the international environment, such as trade friction is a long-term and complex process that will bring continuous interference to the market.

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2 There are structural opportunities: China has a strong domestic demand market and a strong international price advantage, so there are a lot of structural opportunities in the market, such as the same consumption upgrade. The first-tier cities consume liquor from Laojiao to Maotai. Consumption upgrades, three-and four-tier cities from the market for the fight to increase the consumption upgrade. Different cities, different regions, and different age groups all have their own characteristics of the industry's business climate. Because of their breadth and depth, they will always have corresponding investment opportunities.

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3, Be bullish on the direction: Focus on investment opportunities for growth stocks

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1 Having undergone adjustments since 2015, the valuation of a large number of high-quality companies has gradually declined, and outstanding leading companies have already had the value of long-term configuration. At the same time, institutional positions are at a low point within three years, with little upward resistance.

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2 This round of growth stocks is gradually changing from rebounding property to reversing property. This is the reverse market supported by fundamentals, policy, capital and valuation levels. After the 19th National Congress of the People's Republic of China, China further established the development goal of continuously improving the economic structure and continuously optimizing the economic development momentum. Under this goal, with the continuous improvement of per capita GDP, the upgrading of consumption and the transformation of the service industry have continuously given rise to new development opportunities in the pan-consumer industry.

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From the configuration point of view, we can focus on the long-term growth of culture, tourism, leisure and other related consumption upgrades and service transformation.


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