Fund Continues To Be Optimistic About Market Rebound, A Shares Rebound Or Still On The Way

< p > August 13th, the state < a href= "http:// www.sjfzxm.com/news/index_c.asp" > Statistics Bureau < /a > and the central bank respectively announced the domestic real economy data and monetary and financial data in July.

On the one hand, the monetary and financial data is much lower than expected. The M2 growth rate dropped from 14.7% in June to 13.5%, and the new RMB credit was 385 billion 200 million yuan, significantly lower than the 740 billion yuan expected by the market.

On the other hand, the data of the real economy are also lower than expected.

Among them, the cumulative investment in fixed assets increased by 17% year-on-year, lower than market expectations.

In this regard, fund managers generally believe that the July financial data far lower than expected, does not mean that the central bank's monetary policy loosening stance loosened, it is expected that sustained directional easing is normal, the core logic to support the rise of the market has not changed.

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< p > the Shanghai Morgan fund has made specific analysis that the institutional benefits of "a href=" http:// "www.sjfzxm.com/news/index_c.asp" > Shanghai and Hong Kong pass < /a > are just the fuse of the expected increase in the current market, and the loose expectation of monetary release is the fundamental reason for the continuous interpretation of the market.

At present, the central bank's attitude is becoming more and more clear, and the trend of monetary easing is gradually being established.

Since the two quarter of this year, the central bank has been in a multi pronged way, and the market interest rate has fallen down. The most symbolic significance is the repo rate and the interbank interest rate fall.

It is expected that the central bank will continue to maintain its existing policy base for steady growth.

From this perspective, the foundation of this rally is still solid.

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< p > another part < a href= "http:// www.sjfzxm.com/news/index_c.asp" > fund < /a > although not so optimistic, but also think the market downside risk is not large.

The HSBC Jinxin Fund says there is uncertainty as to when the economic data will improve.

The stock index has been on the high side for three weeks, and the market is watching. The macro data released last week are not as good as expected. The disturbing factor is expected to continue to ferment.

It is expected that the recovery of market sentiment will take time.

However, from the market paction situation, the Shanghai Composite Index turnover remained at around 140 billion, still relatively high before the current rally, indicating that the current market participation enthusiasm is still high.

As the opening hours of Shanghai and Hong Kong are approaching, the enthusiasm of participation in the fund will not fade away immediately, so the market will have a limited or limited downward adjustment.

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< p > Nongyin Hui Li Fund believes that the "Shanghai and Hong Kong Tong" and its surge in foreign capital A shares are the leading factors in the current A share market rally.

Although the hot money played a main force role in the previous rebound process, it was the banner of "foreign aid coming soon". Therefore, the size of the subsequent foreign investment forces will determine the strength of the next stage of the rebound.

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