The 17th National Congress of the Communist Party of China put forward that to promote the sound and rapid development of the national economy, it is necessary to deepen the reform of the fiscal and taxation financial system and improve the macro-control system. To improve the competitiveness of banks, securities and insurance; It is necessary to optimize the capital market structure and increase the proportion of direct financing through multiple channels. And creatively put forward the idea of "creating conditions for more people to have property income". How to implement the spirit of the 17th National Congress of the Communist Party of China has attracted attention from all walks of life, and high-level officials also have a process of brewing and observing, which has strengthened the atmosphere of market wait and see. However, according to the spirit of the 17th National Congress of the Communist Party of China, the top management does not allow the stock market to fall too much, and the trend of long-term bullish policy on China stock market will not change.
Two: the "winter sting" in time.
From the time point of view, it is the end of the year, and most of the operating purposes of market main institutions in 2007 have been completed. In the face of these two years' big cows, they are now busy with how to pay bonuses at the end of the year, and they are more focused on the operation of the stock market in 2008. Now I mainly do my homework, select stocks, shake off retail investors, lay a good foundation for next year's bonus, hold funds in my hand, stare at the stock, and think about the bonus in my heart.
Third, the influence of the external stock market.
Affected by the subprime mortgage in the United States, everyone is not optimistic about the global economy tomorrow. The global stock market has plummeted, and Hong Kong stocks are riding a roller coaster in the discussion of the "through train". At the same time, some people with ulterior motives sang high-profile A shares after the Olympic Games, which affected the mentality of mainland investors.
Four: the kinetic energy of individual stocks is weakened.
After entering September, the market rose at the expense of "919". In fact, in August, many stocks entered a downward track, including some fund heavyweights, which never returned and went straight to the semi-annual line and the annual line. June 65438+1October1June 6, the Shanghai stock market hit 6 124.04 (slave or slave).
Five: lack of enthusiasm for doing more.
After the skyrocketing, "value discovery" is difficult to find, and "value mining" is also difficult to dig. A large number of funds arbitrage in the primary market, coupled with policy factors and time factors, the enthusiasm for doing more in the secondary market is obviously insufficient. After the listing of giants such as CCB and PetroChina, the daily turnover in Shanghai is 500 million yuan, which restricts the market's rise.
Six: the impact of stock index futures.
The uncertainty of the specific launch time of stock index futures is also an important reason that restricts the ups and downs of the market. Because stock index futures is a game between institutions and large households, the uncertainty of the specific launch time of stock index futures also makes the main players in these markets at a loss, and they don't know whether to be long or short.
Seven: The funders do not support long and short positions.
Recently, the issuance of new funds has entered a vacuum period, and the sales of several "closed to open" have not been as hot as before. The bank's wealth management counter is very cold, and the plan to expand QFII to 30 billion US dollars this year also makes it impossible for Chinese people to substantially short. At the same time, in order to improve the structure of the stock market and prepare for the listing of stock index futures, the continuous issuance of new shares with greater weight has also taken away the existing funds and does not support the current large-scale long or short positions.
Personal operation: holding shares and innovating in parallel