A bull market that is not the same

In the past one months, the wave of information, wave software and other technology stocks really scenery A, this round to the Software unit as a pioneer of the market and the "5 19" technical stocks similar to the market, so that has a strong "5 19"　　Complex people began to daydream: Can they, like the 1999 technology market, again triggered the Chinese stock market to go cattle? Of course, all this is also due to a prerequisite that can not be ignored ——— China's capital markets look forward to a decade of the gem is about to launch. Under the guidance of the state's strong support for independent innovation and strengthening of scientific and technological support, more and more scientific and technological enterprises are expected to realize the dream of landing capital market with the help of the gem.　　On this basis, the prospect of the emergence of a new bull market seems to have a certain foundation. Comparative analysis, the emergence of the technology stocks and the 1999 technology stocks have a completely different background, but there is no lack of similarities. In the 1999 "5 19" market development process, to network stocks, communications stocks, such as the representative of High-tech stocks as the market "fuse", successfully led a round of bull market. Looking back on the background of the emergence of the market, the Shanghai Composite Index in the following 1558 points has been wandering for 6 years, and ultimately the emergence of investors praised the "5 19" market.　　The market has also fallen sharply, the same is the periphery of the market began to warm, is also the technology industry, coupled with a decade of grinding a sword of the gem finally broken Cocoon, the national electronic information industry revitalization planning and other policies "hotbed", the market on the "5 19" can reproduce the discussion is also natural wind. Harbin Institute of Technology, Shenzhen Graduate School professor Wang Suseng that the 1999 "5 19" and the current market situation of a simple analogy is possible, but from a strict logical point of view, there is a certain difference.　　Wang Suseng is more willing to see this rally as the result of the economic cycle itself ——— economic bottoming out eventually brought a stronger market, and he did not believe that the technology sector itself will be in this round of the rise of the eye-catching performance. Shenzhen, a senior industry insiders believe that the rebound in a number of plate stocks have doubled, the technology sector is relatively backward, it is expected to be launched in the gem will be introduced under the policy-driven performance; In addition, the upcoming gem listed companies are mainly innovative High-tech enterprises,　　Investors also have a good expectation that they will lead the market out of the big markets. Li Dahuan, director of the British Securities Institute, also believes that the development of the Enterprise Board to support the National independent Innovation strategy of the East Wind, the relevant technology stocks will play, thus leading the market performance. "In fact, the market has come out of a wave of calf market, and the relevant plate in the policy support, the market environment to play with the help of the normal." "He also believes that the" 5 19 "market and the current trend of the following is different: one is the market environment of the two differences, 1999" 5 19 "market started from the United States Nasdaq Madness, is a High-tech enterprises in the United States, especially the networkEnterprise's Carnival feast; this time, the upcoming launch of China's gem is the feast of tens of thousands of entrepreneurial enterprises in China; the second is that the two are different in influence.　　The 1999 "5 19" market, the United States Nasdaq, the emergence of a number of world-class listed companies, including Sina, Google and so on; At present, China, including the gem-related system, electronic information industry revitalization planning is China's national level system arrangement, its impact range, depth is different. Liu Jipeng, a professor at China University of Political Science and political Science, argues that the current environment and market trends are very different from the 1999 "5 19" market, and that technology stocks are less likely to lead the market. As for the gem, he also suggested that the market should not go from one extreme to another, do not let the gem bear too much, too high expectations, do not expect the launch of the GEM will create a new great bull market.