Which Four Types Of Stocks Will Be Favored By Overseas Investors?

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Xiaobian network to introduce to you is that overseas investors favor four types of shares.

Industry selection ideas for Shanghai and Hong Kong

The two places have relatively high discount, A shares are cheaper than the Hong Kong stock of the same company or the stock of the same industry company.

Brokerage firms benefiting from volume expansion and market opening;

Blue chips, such as medicine, consumption, etc., are unique in valuation and long-term prospects, and A shares are unique.

The blue chip stocks with attractive value and dividend rate;

Relatively scarce industries, such as chemical industry in A shares, high-end manufacturing, and some international consumer brands in Hong Kong stocks.

Shanghai and Hong Kong will open next Monday, and A shares will open to the outside world, and securities investment will enter a new era.

At this moment, what targets of the A share market will be sought after by overseas investors? How can A share investors adapt to the "pition period" dancing with overseas funds? What are the investment strategies that can be chosen? Through careful analysis of statistics and collated data, our reporter can provide readers with a new perspective and strategy reference for A share investment in Shanghai and Hong Kong.

WIND data show that after the Shanghai Stock Exchange has been opened, Shanghai Stock Exchange will provide up to 568 first batch targets to investors, of which only 67 of them belong to A/ H shares. Although the focus of early public opinion reports is mostly on A/ H shares with A/H spreads, it is obvious that Shanghai Stock Investment vision is not limited to A/ H shares.

Ping An Securities strategist Fang Lei's view represents the choice of strategy. The direct investment opportunity that the market is more concerned about is that after the opening of Shanghai and Hong Kong, the linkage between Hong Kong stocks and A shares will also increase, resulting in the revaluation of the value of many stocks.

However, he also believes that even after the opening of the Shanghai and Hong Kong stock market or the opening of the capital market, it is still difficult for the A share market to bid farewell to some of the independent market, and some characteristics of the A share market over the years will continue.

According to the scarcity, valuation, market value, dividend and industrial competitiveness, the market value and Valuation Structure of A shares and Hong Kong stocks, the economic and industrial structure of both sides and the risk preference of investors are compared. In the industry, the following four types of stocks are expected to be favored by overseas investors in the A share market:

Brokerage shares are most benefited

The first is the direct benefit of Shanghai and Hong Kong through its own industry, and securities dealers are uniformly favored by all agencies and will win the dividend of Shanghai Hong Kong through system.

Shanghai and Hong Kong through the pilot phase, Shanghai Stock pass total amount of 300 billion yuan, the daily amount of 13 billion yuan; Hong Kong stock through the total amount of 250 billion yuan, the daily amount of 10 billion 500 million yuan, the two sides can adjust the amount of investment according to the pilot situation.

Brokerage business will benefit directly

Ping An Securities strategist Fang Lei believes that from the industry point of view, after the opening of Shanghai and Hong Kong through the opening of the most direct benefit is the brokerage sector, especially some large and medium-sized comprehensive.

。

Good performance is mainly manifested in the volume of business, there may be a clear expansion.

Market volume, the market will continue to create more room for innovation.

Among them, most of the large brokerages who have subsidiaries of Hong Kong securities companies are most benefited.

Among mainland brokerages, CITIC Securities is the most beneficial. Due to the successful acquisition of CLSA, CITIC Securities has increased its share of brokerage business in the Hongkong market with a market share of more than 2%, ranking first among mainland brokerages.

Secondly, Haitong Securities, the first place in the world.

Both in Hongkong's market share or in the A share market, both have certain advantages.

Undervalued resource stocks

Second, from the perspective of valuation, Shanghai and Hong Kong can help to underestimate the value and stabilize the performance of blue chips. The blue chips will remain in the doldrums for a long time or will be corrected gradually.

CITIC construction investment analyst Wang Weijia believes that from this point of view, optimistic about Shanghai shares through the coal shares.

Overseas institutional investors are willing to give higher valuation to the leading enterprises that underestimate the value than domestic investors. They will also pay more attention to the stability of the company's performance, the long-term prospects, the proportion of dividends and the dividend sustainability.

"Investors can choose a company which is relatively undervalued in the Shanghai stock market through the comparison of the value of China's Shenhua and China coal energy, which belong to A/ H-share. After the Shanghai Stock Exchange is opened, some of the funds that could only invest in a few H-shares could be diverted to choose some more suitable targets."

He said.

In addition, the state securities also pointed out that the A shares with distinctive resource attributes will benefit significantly. Compared with QFII and RQFII, Shanghai and Hong Kong have the characteristics of low paction costs and wide audience of overseas investors, their opening will bring increased concerns to A shares with unique attributes, especially those of A shares such as rare earth and tungsten, which will benefit from overseas and scarce Hong Kong and Hong Kong Standards, thereby bringing opportunities for these companies to improve their valuation.

Further, it may also trigger changes in the investment style of the A share market. Companies with high market value and good liquidity favored by overseas markets may benefit, while companies with low market value and thematic investment may be hit.

High dividend steady cash flow

In mature markets, it is a popular investment idea to find industries and companies with higher dividend payout according to stable cash flow.

In A shares, in recent years, the heavy assets companies with a large proportion of fixed assets have not performed well. After the opening of Shanghai and Hong Kong, with the inflow of overseas funds, the valuation difference will gradually narrow, and the investment ideas of cash flow will gradually be accepted by A share investors.

Fang Lei believes that from the perspective of dividends, overseas investors and Hong Kong equity investors are relatively strong in terms of asset preference for some high dividends and high dividend rates, because their risk-free interest rates are relatively low, that is, the cost of financing is relatively low, so the requirement for capital return is relatively low.

Financial stocks and public sector stocks, such as those with a high dividend yield, will see more clearly in the financial statements, so they will have a higher tendency towards this asset.

In addition, in terms of public utilities, CITIC has invested in the first batch of environmental protection stocks, including Hanlan environment, Chongqing water affairs, Long Jing environmental protection and Yili energy share.

In recent years, management has paid more attention to the environment and will attract more overseas investors to invest in A shares in the environmental protection industry.

A shares scarce assets

After the formal opening of Shanghai and Hong Kong, A shares have a bigger advantage. That is to say, compared with the Hong Kong stock market, there are some scarce assets in the A share market, that is, the A share market, but the Hong Kong stock market is very small.

Investors in Hong Kong stock are relatively well aware of these assets. Such assets such as some liquor in food and beverages, such as some medical plates, and so on, may also be an obvious benefit for these consumer goods.

CITIC construction investment believes that some of the scarce leading shares in A shares are expected to be upgraded in value.

Shanghai and Hong Kong through the impact of the chemical sector is positive, first of all, the mature investors in Hongkong are expected to enhance the valuation of some of the scarce leading shares in A shares.

There are 45 basic chemical companies listed in Hongkong, with fewer targets, involving only sub industries such as chemical fiber, fertilizer, gas and so on. There are many sub industries such as polyurethane, dyestuff, pesticide and so on. In this Shanghai and Hong Kong links, Zhejiang Wansheng chemical, dye Longsheng, Zhejiang agricultural chemicals, Xin'an shares and Jiangshan shares are not valued.

From the long-term trend, Shanghai and Hong Kong through capital

Further opening up, the most favorable affirmation is the A shares of some manufacturing industries, that is, its competitiveness in the global market is very strong. For example, the high speed rail and some construction machinery leading companies have certain competitiveness in the global market, so that overseas investors can share the dividends of the mainland's further economic growth through buying these shares.