尽管美国股市在利好刺激下出现强劲反弹,但做多信心却未传导到A股市场,沪深300指数再创调整以来新低。市场表现相当疲弱,08年PE已低至22倍的沪深300指数依然得不到投资者的认同。1、动摇投资者信心的因素其实都比较确定表面上看,是一些不确定性的因素在冲击市场的信心,例如,一季度业绩可能低于预期、CPI是否会居高不下、央行是否会有进一步紧缩政策、美国次贷危机究竟会如何拖累中国的出口。但深入分析就不难发现,潜藏在这些不确定性因素背后的其实基本上都是确定性的不利因素: Despite the strong rebound in the US stock market under favorable stimulus, but did not pass the confidence to do more to the A-share market, the Shanghai and Shenzhen 300 Index hit another record low since the adjustment. The market performance is rather weak. In 2008, the CSI 300 index, which has been as low as 22 times PE, still lacks recognition from investors. 1, factors that undermine investor confidence are actually more certain On the surface, there are some uncertainties in the impact of market confidence, for example, the first quarter performance may be lower than expected, whether the CPI will remain high, the central bank will have Further tightening of the policy, how the U.S. subprime mortgage crisis will drag China’s exports. However, in-depth analysis is not difficult to find, hidden behind the fact that these uncertain factors are basically deterministic unfavorable factors: