论文部分内容阅读
中信证券:5000点具有里程碑意义8月23日上证指数收于5032点,收盘点位首次突破5000点大关。当前指数点位相当于2005年7月历史低点(为此前8年的低点)的5倍。而且,今年以来上证指数累计涨幅96%,为全球主要市场中表现最好的指数。指数上涨的核心推动力:在股改以后,市场指数加速上行。去年11月突破2000点,今年3月突破3000点,5月突破4000点,尽管经历6、7月份的震荡,但指数在8月份快速突破了5000点。推动指数上行的核心因素包括:业绩超预期增长、流动性依然强劲、经济景气继续维系、整体上市提速、对国际风险相对免疫等,这些基本面因素并不会因为指数超越5000点而改变。
CITIC Securities: 5000 points a milestone August 23 Shanghai Composite Index closed at 5032 points, closing the first breakthrough in 5000 points mark. The current index point is equivalent to 5 times the historical lows of July 2005 (the previous eight-year low). Moreover, the Shanghai Composite Index this year, the cumulative increase of 96%, the performance of the world’s major markets the best index. The core driving force of the index rose: After the stock reform, the market index accelerated upward. Last year exceeded 2000 points in November, breaking 3,000 points in March this year, breaking 4,000 points in May, despite experiencing the shock in June and July, but the index broke through 5000 points in August. The core drivers for the index’s upward trajectory include over-expected performance growth, strong liquidity, continued economic success, faster overall listing, and relative immunity to international risks. These fundamental factors will not change as the index surpasses 5,000.