Soochow Securities: Quantity To Maintain Stability, Short-Term Shocks Do Not Change The Midline Rebound Trend

< p > last week, the overall market showed a trend of concussion. With the Shanghai Stock Index going to the top 2200 points, the gap between the two sides increased, and the main military power block was temporarily suspended, while the a href= "http:// www.sjfzxm.com/news/index_c.asp" > subject matter plate < /a > also appeared obvious differentiation with the increase of the index amplitude. The short-term economic data and the overdue profit taking in the short term are likely to disturb the market. However, the market is generally more dynamic and stable, and the market is still expected to expand to the top of the market. < /p >
< p > July, the generalized a href= "http:// www.sjfzxm.com/news/index_c.asp" > money < /a > supply (M2) increased by 13.5% compared with the end of last month and the same period last year, 1.2 and 1 percentage points respectively, and RMB loans increased by 314 billion 500 million yuan over the past 5 years, a new low in the past 5 years; in July, the total scale of social financing was 273 billion 100 million yuan, a decrease of 86%, the lowest level since 2008; in July, the industrial added value of above scale increased by 9%, up 0.2 percentage points from June; in July, the power generation was 504 billion 800 million kwh, an increase of 3.3% over the previous year, and the former value was growth. < /p >
< p > surface "a href=" http:// "www.sjfzxm.com/news/index_c.asp" > economic data < /a > all have a certain degree of decline, which may indicate that the future economy may have repeated trend. However, the reason for the deep analysis is that base effect, seasonal fluctuation and the reduction of bank loan risk preference. In the face of such short-term fluctuations, we can expect that more stable growth combinations will be launched in the future, and the warmer policy side will be conducive to the continuation of the market rebound. < /p >
< p > from the recent market trend, the Shanghai stock index has entered the 2200 point, and the shock has obviously intensified. On the one hand, the continuous rebound has accumulated more profit making plates, and some investors are not steadfast enough to catch up with the wind and stir up the chips, resulting in many diving trends in the trading market. < /p >
< p > these two factors lead to short-term exponential shock. But judging from the general trend of stock index, it is relatively stable, and there is no continuous callback trend. In addition, the volume has been maintained at a high level, and the daily turnover volume of Shanghai stock index is above 120 billion. This reflects that the current market participation enthusiasm is higher, and there is no obvious decline in energy consumption. It is expected that short term shocks and recuperation will not change the midline rebound trend of the market. < /p >