Huatai Securities Luo Yi turbulence in the market, blue chips can withstand the risk of risk-爱多vcd

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Huatai Securities Luo Yi: financial market turmoil in the blue chips can resist risks Sina Level2:A shares of sina finance client speed Kanpan: the most profitable investors are using the weekly Times reporter Sheng Xiaolan from Shanghai in 2016, A stock market continued turmoil in 2015. Faced with such a turbulent market, what kind of investment targets should investors choose? Huatai Securities Research Institute, assistant chief financial analyst Luo Yi weekly Times reporter said, in the financial market turmoil, blue chips can resist more risk, more worthy of long-term investment. "Pay more attention to the long-term investment opportunities brought by the reform, as well as the judgment of the big pattern. For example, the blue chip that many local investors have ignored before, especially the blue chips of the financial sector." Risk or gradual release in 2016, the stock market has fluctuated sharply, and there seems to be no sign of recovery. Luo Yi believes that the volatility of the stock market, you can see the fierce reform game, "economic growth may decline, but not too pessimistic.". Stable environment is the most suitable for reform, after all, the reform bonus before two years is gradually released". In the central economic work conference, clearly to improve the proportion of direct financing, and to form a complete system of financing function, basic solid, effective market supervision, protecting the interests of investors in stock market. In the meeting, to prevent and defuse financial risks in an important position, Luo Yi believes that the risk of trust rigid payment, P2P and usury may gradually release. To supply side reform, to go to the real estate stock, clearing zombie enterprises, but also represents part of the real estate risks and entities of the bad risk should also be released. Then the economic transition at this time must rely on the capital market, especially the stock market. According to Luo Yi and team estimates, the total funds outside the shadow banking has nearly 30 trillion yuan, "as long as the devaluation of the renminbi is expected to stabilize, these funds still need to have a good return, while the new IPO reform plan, nature is a means to attract the best funds". Pay attention to the financial blue chips at present, IPO has been restarted, the Commission said that the issuance of securities, to submit to the Commission issued underwriting plan, the underwriter should consider both investment and financing needs and market demand should still adhere to the low pricing, continuous distribution principle. Based on the above principles, Luo Yi believes that as long as the market sentiment will gradually return to normal, the infrastructure of the stock market to keep up with the effective supervision, the market value of the placing of attraction is great, forecast at the same time, participate in the new rate of return can reach nearly 10% in 2016. For the controversial registration system, Luo Yi believes that the registration system does not happen overnight, the price and the rhythm will not significantly liberalized, even if you want to put in the market, is gradually getting better in the background." At the same time, new stock placement reform, strategic emerging plate reform and the new three board stratification, will strengthen the long-term attractiveness of the capital market. For the reform of state-owned enterprises, Luo Yi believes that the next "state-owned enterprises will accelerate the overall market, state-owned enterprises in the ESOP will also speed up, if we can coordinate the management of state-owned enterprises and the interests of the listed company, can also be on

华泰证券罗毅:动荡市场中 金融蓝筹股更能抵御风险 新浪财经Level2:A股极速看盘 新浪财经客户端:最赚钱的投资者都在用   时代周报记者 盛潇岚 发自上海   2016年,A股市场延续了2015年的大幅动荡。   面对如此动荡的市场,投资者应该选择怎样的投资标的?华泰证券研究所所长助理、首席金融分析师罗毅对时代周报记者表示,动荡市场中,金融蓝筹股更能抵御风险,更值得长期投资。“多关注改革带来的长期投资机会,还有对大格局的判断。例如之前本土投资者很多都忽略的蓝筹股,尤其是金融蓝筹股。”    风险或逐步释放   2016年,股票市场一直大幅波动,而且似乎并无平复迹象。罗毅认为,股市这种波动幅度,可以看到改革博弈的激烈,“经济增长或许还要下滑,但是别太悲观。稳定的环境最适合改革,毕竟之前两年的改革红利在逐步释放”。   在中央经济工作会议中,明确要提高直接融资比重,同时要形成融资功能完备,基础制度扎实,市场监管有效,投资者利益得到充分保护的股票市场。   会议中,把防范化解金融风险放在重要位置,罗毅认为,信托刚性兑付、P2P和民间高利贷的风险可能逐步释放。而要供给侧改革,要去房地产存量,出清僵尸企业,也代表着部分房地产风险和实体的不良风险也要释放。那么此时的经济转型,就必须要依赖资本市场,尤其是股票市场。   根据罗毅及团队测算,场外的影子银行资金总量有将近30万亿元,“只要人民币贬值预期稳定下来,这些资金还是需要有不错的回报的,而最新新股改革方案,自然是吸引资金最好的一个手段”。   关注金融蓝筹股   目前,IPO已经重启,证监会表示,证券发行时要向证监会报送发行承销方案,承销商要综合考虑投融资双方需求和各种市场需求定价,仍然应该坚持低价持续发行的原则。基于上述原则,罗毅认为只要市场情绪能够逐步恢复正常,股票市场的基础设施跟上,监管能有效,市值配售的吸引力是很大的,同时预测,参与新股的回报率在2016年能达到将近10%。   对于颇具争议的注册制,罗毅认为,“注册制并不会一蹴而就,价格和节奏不会大幅放开,就算要放,也是在市场逐步向好的背景中。”同时,新股配售改革、战略新兴板改革以及新三板分层,都会加强资本市场的长期吸引力。   对于国企改革,罗毅认为,接下来“国企的整体上市会加速,国企中的员工持股也要加速,如果能协调好国企管理层和上市公司的利益关系,自然也可以对国企的股价有很大的正面提升作用。”罗毅判断,2016年的供给侧改革会大幅推进,对很多蓝筹股,尤其是金融型、资源型和周期型蓝筹股的股价有较强的支撑作用。   上市城商行或高速扩张   其中,银行股是金融蓝筹股中重要的组成部分。罗毅认为,银行基本面方面,不良率会上升,利润增速还会下滑,但是对于银行业不良资产的处置力度和处置方式的改革也会加速,地方债务互换也会提速,银行员工持股也在逐步破冰。   “从2007年到现在,不良率越低,股价越低,不良率越高,股价反而越高,投资者需要看的是银行有没有真正在改革,有没有从股权结构改革,有没有从内部机制改革,以适应未来银行业的变化。”   同时,罗毅认为,两年后银行会进入大并购时代,“先上市的城商行,资本获得是有优势的,银行很适合做并购,因为银行不会因为被并购或是并购而导致存款过多流失。只要有合适机制,引入合适人才,商业银行整合难度要大幅小于投资银行”。   罗毅表示:“这些先上市的城商行,如果能有优秀的风控机制,加上本身股权结构的合理性,员工持股的引入,再加上A股市场能提供的资本容量,这样就具有高速扩张的可能性。” 新浪声明:此消息系转载自新浪合作媒体,新浪网登载此文出于传递更多信息之目的,并不意味着赞同其观点或证实其描述。文章内容仅供参考,不构成投资建议。投资者据此操作,风险自担。 进入【新浪财经股吧】讨论相关的主题文章:

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