New shares speculation heat rebound funds favor three types of new shares

Funds favour three new offerings but higher valuations bring potential risks to 177%! Yesterday, the first day of the Pearl River Beer rose to surprise the market, as of yesterday's close, the Pearl River Beer reported 16.08 Yuan, far higher than the previous institutions to give the 3.60 yuan-8.60 yuan reasonable valuation interval, the first day of the listing of new shares in the third. Everbright Bank, which was listed on the same day, also performed well, rising 18% per cent, after the same "green shoe", the Agricultural bank, was worried about keeping its IPO price.　　Yesterday, the public Securities newspaper interviewed the industry unanimously said that the market performance is obviously a new hot, but investors in the current market prospects are not yet clear environment best "easy." Wind data showed that the August listing of 18 new shares did not break, and the average first-day rise as high as 73.2%, while the July listing of new shares on the first day rose only 23.27%, June also only 21.34%.　　One of the Gan-Feng lithium, Pearl River Beer, China's first day of electronic electronics rose more than 100%, respectively, reached 185.99%, 177.24% and 118.47%. In August, the online rate of the new release was reduced from 1.31% in July to 0.8%, and the net effective allocation ratio fell from 4.87% in July to 4.22%.　　In this regard, Dong Wu securities strategy researcher Zhou said, although the current enthusiasm for new shares overall rise, but the agency is still more cautious than retail investors. So exactly what kind of stock is favored by money? Reporter statistics of nearly one months listed 22 new shares on the first day of capital flow, found that the current municipal fund seems to prefer the following three types of new shares: first, the Chinese-wood shares and days of business communications as the representative of the infrastructure equipment and engineering equipment stocks. Second, the National Proton Electronics and the group as the representative of the military concept of the unit.　　Finally, Gan Feng lithium industry and dry photo photoelectric as the representative of the new energy stocks. But according to statistics, it is an indisputable fact that the current valuation of new shares is starting to move higher.　　According to the IPO date, the average P/E ratio of new shares in August is 65 times times, of which the company's SME-day-Qi price-to-earnings ratio is as high as 90 times times, the April 15-year adjustment since the new issue of new shares issued a new price-earnings ratio, and the August 6 IPO of the gem companies shun net Historical data show that last December, the new issuance of new highs, followed by a huge adjustment in February; Similarly, in April Gem also appeared a wave of high P/E, but then there was a deep adjustment of the Shanghai and Shenzhen shares.　　Then the new shares of the bubble will let the market eat flat? "There is this possibility. Zhou that, while Wen Lijun, a Nanjing securities researcher, suggested that investors on the first day should take profits to prevent valuations from returning to risk. Reporter Liuyang Wenli