The Valuation Level Of Listed Companies In China'S Stock Market Is Too High.

Although the number of shares in the first venture has not fallen much, many of the new shares have gone crazy after the frenzied speculation. The recent media share price has been cut down, and the new stock price has fallen by 20-30%. Can this kind of stir fried Chinese stock market really have healthy cows? Because the second share is the hope of the Chinese stock market in the future.

It is precisely because the valuation level of Listed Companies in China's stock market is too high that they can not get long-term stable returns through long-term shareholding, so they can only rely on short and medium term speculation to get the price difference, so China has a high level of valuation.

The fluctuation is far greater than the world stock market volatility, leading to a lot of problems in China's stock market.

When it comes to market speculation, we have to say that the vicious reduction system can not only reduce the industrial capital in China's stock market, but also push up the stock price through the market value management, so that it can successfully cash in the stock market. A deficit company that the market is being questioned is one example. A loss making enterprise has a short-term surge due to the reduction of shareholders, but after that, the stock price is plummeting. Although the cost of convergence has not been overexposed, the stock price has fallen from high to nearly 35%.

Not only follow the wind investor losses, the key is the stock price short term skyrocketing, plummeting, bringing huge risks, now the use of high pfer to speculation is expected to gradually reduce the number of cases, although the stock price soared in the short term, but after that will be a chicken feather, no one can predict, but a few years ago, a loss New Energy Company stock performance can be used as a reference.

The big implication of shareholders' reduction is that they are not optimistic about the future development of the company, but they can colluded with the two tier market big funds to push up the price doubling or reduction, or use market investors to anticipate manipulation of stock prices.

At present, there is no possibility of a long-term healthy bull market. As of today, the Shanghai stock exchange price earnings ratio is 14.32 times, the Shenzhen stock index is 51.63 times, the medium and small board is 64.18 times, and the growth enterprise market is 86.83 times, so the valuation level has long been the cow, not the beginning of healthy long cattle, but the beginning of the asset bubble. It is the beginning of the new disaster. The US three major index earnings ratios are below 30 times, much different from ours.

P / E ratio is only a little more than 30% of China's gem. The Shanghai composite index price earnings ratio is close to that of America's S & P, which is caused by the very low P / E ratio of bank insurance. If the median price earnings ratio is used, the valuation level is still low, about 40.

The valuation of the international capital market is also very low from the world famous large companies, such as Apple's share price is close to 100 US dollars, but its valuation is only 10 times; IBM's latest valuation is 11 times, Intel's 14 times, Google's less than 15 times, and big Mo 10 times.

These are the enterprises with representative industry and strong profitability in the US stock market.

Because long-term shareholding can not be rewarded, funds can only take advantage of the sword and take advantage of it.

To seek profits, the market manipulated insider trading repeatedly.

In such a speculative market, once the market improves and investors are generally recognized, leverage will follow. Leveraged cows can not be prevented, and risks can not be avoided.

The risk appetite of the world financial market goes up, and the three major stock indexes in the United States go up to a new high. It can only show that China's financial market has a strong risk appetite and the stock index is prone to bottom up. Even if there is a monetary policy stimulus or even a big wave of rebound, the stock market rebound is a completely different concept from the long term healthy bull market. The stock market in China is not short of short term inflation. However, the stock market has long been a short bear and a long distance from the healthy bull market. In fact, the correlation between the long term healthy bull market and the financial and financial environment is not very large. They are not the qualitative factors. They decide the long-term healthy bull market of the stock market mainly depends on the stock market system, and the Chinese stock market system is still short of the healthy long cow gene at present under the circumstances of the stock market system in. I think Britain's risk warning is lifted.