Shanghai Index valuation bottoms out 3700 points for the year

A shares resumed trading today. For the People’s Bank of China’s announcement of a comprehensive RRR cut, brokerages generally believe that the market outlook is positive

Zhang Yulong, chief strategy analyst of CITIC Construction Investment, said that the current cut in quotas is very helpful to the market. It is expected that A shares will continue to rise sharply, and real estate, building materials, construction, securities dealers, and banking stocks will benefit the most.

The Shanghai Composite Index rose 22.3% in 2019, and the Shenzhen Component Index surged 44.08%. According to the Shanghai and Shenzhen Stock Exchange, the total market value of Shanghai and Shenzhen Stock Exchanges at the end of 2019 reached 59.29 trillion yuan (the same applies hereinafter), an increase of 15.88 trillion yuan or 36.59% over the end of 2018. It is generally believed that the valuation of A shares has bottomed out.

According to Yang Delong, chief economist of Qianhai Open Source Fund, from the perspective of valuation, the current A-shares are in the valuation depression of the global capital market, and the situation of the mainland economy’s long-term stability and improvement has not changed, which will attract global capital into the Chinese market ;

In 2019, foreign capital inflows into A-shares reached nearly 350 billion yuan, exceeding expectations

He believes that in 2020, the trend of A-share stocks will continue. The Shanghai stock index can stand at the level of 3,000 points and make further progress, with about 20% upside.

Lianxun Securities expects that A-shares are expected to challenge 3,700 points in 2020. The market may be more certain in the first half of the year. As the surrounding market environment is gradually improving, the risk premium is expected to change from negative to positive. .

16 China Banking restricted shares lifted during the year

In addition, in 2020, 16 banks will be lifted from the restricted shares of A shares, involving a market value of 197.84 billion yuan. Among them, eight banks have lifted the ban and have a market value of more than 10 billion yuan, including the Postal Savings Bank, Yunong Commercial Bank, Zhejiang Commercial Bank, Suzhou Bank, Bank of Beijing, Qingnong Commercial Bank, Pudong Development Bank and Industrial Bank.

Among the banks that lifted the ban, Post Bank was the largest, involving a market value of about 43.34 billion yuan; Yu Nong Commercial Bank had a market value of about 30.43 billion yuan, ranking second; Zhejiang Commercial Bank ranked third with a scale of 21.32 billion, Interbanks will focus on lifting the ban by the end of this year.


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