Societe Generale to change hands on the first day of nearly 90% in future deposit adjustment pressure

Click to view the latest market Peng Jieyun after two consecutive days after the brokerage plate after the "collective blowout" market, yesterday, the new force of the Shanghai Stock Exchange (601377.SH) also mercilessly scenery a. As the 14th to land a-share market, the 5th IPO of the Securities company, the issue price finally set at 10 yuan Industrial securities listed on the first day of the market expectations. Early set to 14.66 yuan high open, and then the way to pay enthusiastically, the day a total of 185 million shares, turnover rate of up to 87.72%, net inflow of capital of 486 million yuan, ranked yesterday in the first stock capital inflows.　　Societe Generale securities end of the report closed at 14.86 Yuan, the increase of 48.6%, led the day listed 5 new shares.　　Short-term will not break future storage adjustment pressure and IPO after the resumption of a shares of the other three brokerages, Societe Generale Securities, the first day show the most bright eye, Everbright Securities, China Merchants Securities, Huatai Securities listed on the first day of the rise of 29.98%, 8.42%, 5.3%.　　Investment Securities analyst Hongjin to the "first financial daily" said, Societe Generale 9 yuan ~10 yuan issued price range is relatively reasonable, lower than the sponsor UBS Securities in the road after the 10.6 yuan ~13.8 yuan inquiry space, in the two-class market, set aside a certain space.　　However, Everbright, investment, Huatai Three securities companies in the release soon after the break dilemma, until now are still running under the issue price, industrial securities is also likely to follow its footsteps? Prior to the major securities issued by the IPO inquiry report, Societe Generale securities were considered to be listed after the reasonable price range is concentrated in 8 yuan ~11 yuan. Citic Securities is the most optimistic, the company is expected to be listed on the first day of the valuation limit of 12 yuan.　　National Gold Securities for its low valuation, that its listed reasonable price of 8.18 yuan ~9.43 yuan.　　Compared with its closest brokers, the Yangtze has a 19 times-fold price-to-earnings ratio of 2010, with a 24 times-fold price-to-earnings ratio and a price-earnings ratio of 19.55 times times the price of Societe Generale, which was close to 30 times times yesterday's closing price. Analysts mostly believe that the biggest bright spot in the business structure of Societe Generale is its asset management business. The company holds a 51% stake in Societe Generale Global Fund and also shares the South Fund.　　In the first half of 2010, 2009, 2008 the company to achieve the fund's business income and Asset Management department business income total of 300 million yuan, 540 million yuan, 450 million yuan, accounting for the first half of 2010 years, 2009, 2008 annual operating income 27%, 17% and 34%. But compared with other listed brokerages, Societe Generale's growth in brokerage business is not large, the future in the brokerage market share may be lower than expected, the rate of commission decline or higher than expected.　　In addition to its proprietary business fluctuations in the first half of this year, the self-employed loss of 18.42 million yuan. "Although from the current market, the probability is not big, but in the next few months, Societe Generale stock prices will be gradually returned to the vicinity of 10 yuanLevel.　　Liu June, an analyst with the Yangtze River Securities, believes that Societe Generale will face adjustment pressure in the afternoon, but the short-term break is unlikely.　　Liu June also said that the first day of the Industrial securities rally and the recent brokerage stocks overall trend of the active performance closely related. Fundamental improvement Valuation Repair Securities brokerage unit First day show October, securities brokerage shares on the collective exerting force, October 11 further evolution into a surge, Citic Securities, Everbright Securities, Hongyuan Securities and GF Securities trading, the Yangtze River Securities, Haitong Securities, northeast Securities rose in more than 9%,　　The lowest-rising south-Western securities also exceeded 6%.　　China Merchants Securities Hongjin that the recent market performance of the brokerage plate is mainly based on fundamental improvement and valuation repair two points. She pointed out that the October 7 commission of the New deal for the industry is a substantial catalyst, a strong deterrent to the previous collapse of the securities industry.　　At the same time, brokerage performance is the worst of the past, with the three quarterly trading volume growth, peripheral stock market to good factors, investors have a new hope for the securities industry.　　According to wind data, the August stock market daily turnover of 215.3 billion yuan, the chain increased by 45%, September turnover continued to maintain growth, the daily turnover of listed stocks amounted to 232.1 billion yuan, or 7.8%.　　Changjiang Securities Liu June also believes that the securities industry since July, the business indicators have markedly improved, and the previous market has been neglected, the current situation reflects the industry's oversold rebound. As of the end of September this year, brokerage stocks fell 44% compared with the end of 2009, while the Shanghai Composite Index fell 19%. In the rebound in July, the Shanghai Composite Index rose 10%, brokerage stocks, the basic synchronization of the market, Rose 10.7%. August and September, the market slightly up 0.7%, brokerage stocks fell two consecutive months, a decrease of 11.1%.