Wang Hanfeng in 2017 the A-share market will open the space The path winds along mountain ridges. st 瀬名アスカ

Wang Hanfeng: in 2017 A A-share market will open the space The path winds along mountain ridges. stock selection investment contest: Irving King peep catch demon shares of Sina Financial App: Live on-line blogger to tutor in   the prospect of Wang Hanfeng Li Qiusuo in 2017 A A-share market: 2017 stock selection The path winds along mountain ridges., open space after the second half of 2015 and 2016 has a sharp correction the consolidation, the current market is not without risk, but the funds are expected in assets between rotation characteristics continue to perform, with price adjustment and earnings growth stock market digest the valuation, stock selection space gradually opened, will be better than 2016 2017 A shares structural opportunities, the whole year is expected to achieve single digit revenue. Such reasons include: (1) 2017 macroeconomic growth may be near misses, smoothly. The real estate regulation to bring growth pressure but steady growth policy maneuvers. Non-financial listed companies profit margins, ROE, capital expenditure and other indicators show that after years of adjustment, endogenous growth in China has shown signs of bottoming out. If the systematic reform of urbanization to promote sustainable growth may be stronger. On the whole, the gold group is expected in 2017 GDP growth slowed slightly to 6.6%, the RMB against the U.S. dollar by the end of next year, a slight depreciation of $6.98. Combined with other assumptions, we expect A shares from top to bottom in 2017 earnings growth of around 7.3% (non-financial) in. (2) the valuation of systematic compression is nearing completion. With interest rates near historic lows, the potential fiscal deficit rate high, prices have risen sharply, China cyclical policy space has been significantly reduced, the valuation and risk preference marginal changes, but the most intense stage to kill the valuation may have ended. After controlling the flow of real estate funds, the possibility of MSCI into A shares, the potential for interconnection of funds and other factors of concern. At the same time, the economy towards consumption and services continue to adjust the structure of bias, "reform and the continued implementation of the sparse block potential stock options have again. In the major categories of assets, real estate pressure, the currency will not be more loose, we expect stocks stronger than debt, growth slightly higher value, the main commodity in the bottom of this year after the first wave of rebound in the future may be the shock and differentiation. The process of the overall stock market continues to "true", the Shanghai and Shenzhen 300 index dynamic price earnings ratio of 11.5 times (non-financial 18.2 times), the gem index fell to 31.2 times (Chaoyang sustainable profit consensus data, based on the expected may have overestimated), were lower than or close to the historical average, the future is more stocks differentiation. The market upside risks include better than expected growth, the real estate regulation effect of weaker than expected, easing than expected, but the downside risks include rising inflation, deflation or deleveraging than expected, real estate overshoot, credit and exchange rate risk, external tightening expectations, Europe and the Middle East and other regions of the political and economic risk, etc.. Configuration: pick up the microscope, select stocks and 201420152016 years over the past three years, the rise and fall of macroeconomic factors, the market is more affected by the macro factors, plate configuration and stock to be more serious相关的主题文章: