Allocation: Motherboard And Gem -- Who Is The Barometer Of The Economy?

< p > recently, the volume of Shanghai Stock Exchange on behalf of the main board has dropped to a record low, including the small and medium sized board and the GEM market, but it has been increasing frequently, sometimes almost 2 times the Shanghai stock market.

What causes the huge difference between different stock indexes in the same market environment? Some people will say that the IPO restarts caused by the implementation of the new deal.

So, what is the reason for the departure of the gem and the motherboard trend in the past year when there is no issue of new shares? Again, is it not that the restart of a href= "//www.sjfzxm.com/news/list.aspx? ClassID=101112107105" > IPO < /a is conducive to the valuation of the motherboard's blue chip stocks and is not conducive to the risk of overvaluation of small and medium capitalized stocks? What's happening in China's stock market today?

Who is the motherboard and who can represent China's economy? It is of great benefit to clarify these problems for our next investment.

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< p > 1. The main board of China's A shares can not represent the future of China's economy. Small plates and gem are barometers of China's economy.

By the end of this month 15, the A shares of the Shanghai and Shenzhen two cities share a total of 131 companies stock price earnings ratio less than 10 times, all concentrated in the main board, which the lowest bank shares, about 4 times, followed by real estate and drinks.

At the same time, there are 147 companies whose shares fall below net assets, all of which are in the main board, of which 12 banks are almost completely annihilated.

Other companies are mainly distributed in iron and steel, building materials, basic chemical industry, coal and other overcapacity, structural adjustment of the hardest hit area.

Admittedly, the main board companies have concentrated the leading enterprises in the vast majority of pillar industries of our national economy, contributed most of the tax revenue and profits, absorbed a large number of personnel employment, and played a decisive role in the past 30 years of reform and opening up.

Therefore, in the stage of extensive development of China's economy driven by exports and investment, these enterprises are the biggest contributors of GDP, and, of course, are barometers of China's economy.

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< p > however, after the third Plenary Session of the 18th CPC Central Committee, < a href= "//www.sjfzxm.com/news/list.aspx ClassID=101112107108" > China's economy < /a > has been successfully pformed into a sustainable development way to drive surplus capacity, adjust structure and promote consumption. Small and medium sized boards and gem are just concentration camps in China's emerging industries.

Its gathering of smart consumption, cultural industries, robots, solar energy and other sunrise industries is the hope for the realization of the Chinese dream, which is also the representative of China's future economic development direction.

Recent performance of robots and smart wearable stocks is evidence.

So China's stock is still a barometer of China's economy, but small and medium sized boards and gem have replaced the motherboard.

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< p > two, small and medium-sized investors should strengthen their sense of protection and reduce irrational behavior.

The recent IPO new deal has made many intentional attempts on the long term stable development of the stock market, although there have been some problems in the actual implementation process: for example, the performance of unlisted companies has slipped; the issuance of high premium prices has risen again; according to the old stock market value and the cash double distribution, and strictly delineating the different stock market capitalization of different stocks, this has exacerbated the long-term slump of the main board stock capital loss, and further expanded the scissors gap between the main board and the non main board stock index.

We should not expect a reform to solve all problems, nor do we expect that after more than one year's examination, all the listed companies will be of high quality. They will certainly be better than the old ones, and they will surely bring you great returns.

Recently, the main board salted fish turned over the "a href=" //www.sjfzxm.com/news/list.aspx "ClassID=101112107102" > Sichuan Changhong < /a > (smart TV) out of the bottom, the same side shares (e-commerce) to form a breakthrough.

We should not be complaining about our frustrations without reflecting on ourselves.

We should see that management has recently taken successive remedial measures to protect small and medium investors, such as "further strengthening supervision in the process of issuing new shares", and postponing non-standard IPO of companies.

We must firmly establish the concept of "buyer's conceit" and reduce impulsiveness and blindness in practical operation.

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