Inventory horse A-share: countless hot spots do not understand the market can not grasp the bull

Along with Shanghai and Shenzhen stock index both out of the "seven Lian Yang", Horse stock market high-profile finale. Countless hot spots, do not understand the market, can't catch the bull, China's stock market experience of the third horse let people memorable. Countless hot spots: a A-share farewell to the last day of the Chinese horse, A shares out of a wave of Gaokaigao go market. Shanghai and Shenzhen stock indexes were closed at 3246.91 and 11718.56 respectively. The Shanghai Composite Index started at 2033 points at the end of the year of the snake, and climbed to the 3,406 point of the 5.5 new highs on January 23, with a "tight lever" in the management layer under the influence of multiple factors. From February 9 to 17th, the Shanghai and Shenzhen stock indexes both went out of "seven Lian Yang". According to the closing point of calculation, the horse Two cities rose to 59.7% and 54.7% respectively. In addition to the bull market, the horse stock market has more hot spots to recount. IPO restart expansion speed. As of February 17, the total number of listed companies in the Shanghai and Shenzhen stock market reached 2,652, which increased by 120 at the end of the year of the snake. In the same period, the total market value of Shanghai and Shenzhen jumped from 23.78 trillion yuan to nearly 40 trillion yuan. HK-Shanghai opens Cross-border two-way investment. Since April last year, the Hong Kong and Shanghai Exchanges issued a joint announcement, as at February 16, the total balance of Shanghai shares is 194.579 billion yuan, the proportion of the use of more than 35%, the total balance is 225.6 billion yuan, the heat is significantly inferior to the former. From "The new country Nine" landing, to "the history of the most strict retirement system" broken ice, from *st long oil sadly away from the field, to the securities industry's largest mergers and acquisitions case finale ... Countless hot spots, creating a wonderful and complex horse stock market. Do not understand the market: leverage in some market and senior investors eyes, horse bull market is a wave of "not understand the market." One of the main reasons for not understanding is the fundamental and stock market trend of a serious departure. China's sluggish economy, which has been tested by the "three-stage superposition", saw GDP growth at a 24-year low in 2014. In this context of the A-share bull market, inevitably encounter the "non-existent" question. In this regard, Kay Shi Yi is investment company chief analyst Yanyanying said that the departure from the fundamentals of a A-share bull market to a certain extent reflects investors on the quality of the economy to improve the overall deepening reform of the good expectations of continuous progress. Another big "don't understand" comes from the staggering market heat. From the central bank accidentally cut interest rate ignited a a-share, to hit a stage high in January this year, prev only spent two months to achieve about 37% of the gains. Behind the madness, the addition of leveraged funds has helped. Statistics show that as of February 13, the Shanghai and Shenzhen cities financing balance close to 1.14 trillion yuan. With the umbrella trust, private financing and other channels, the scale of leveraged funds is even larger. It is noteworthy that the horse stock market in the gradual rise in the same time the concussion intensified. January 19 prev Hit 7.7% in the last seven years of the biggest single day decline. The bull in the grip: the game behind the wheel and "the bull on the lever", "Cang instead Ta Kong" is one of the most accurate adjectives of horse stock market. Industry plate, market style of frequent wheel move, created a wave of "catchNot live in the bull. " From last May to December, Prev Close staged a rare "monthly line of eight Lian Yang", the big blue chips to promote the stock index of the absolute main force, making the habit of speculation small, fry the theme of the small scattered were surprised. After entering the 2015, growth stocks returned. Under the leadership of the Internet concept stocks, the GEM index is fast higher, the end of horse more than 1900 points, set a record high, so that many institutions and large stocks of retail investors panic. Behind it is not only the institutional retail game, but also the game of value and growth. Based on the promotion of Shanghai and other factors, long-term underestimated large-market blue chips in horse ushered in valuation repair. In the bull market is difficult to continue to rely on funds driven by the background, with rich imagination space growth stocks began to return to the main field of vision. Does the gem, which exceeds 80 times times the average P/E ratio, develop an overdraft for growth? Macro-economic trend stabilized after the large blue chip has no play? Fundamentals, can the policy and capital aspects of the important drivers of the stock market continue to provide support for the stock market? Just finished horse trading A shares, for the beginning of the ram left a lot of suspense.