However, the strong performance of stock price also leads to the fear of high capital: is it to the ceiling? Do you want to follow the big money?
Some institutions pointed out that at present, the market differentiation is very prominent, and the strongest support for the overvalued value comes from the strength of excellent performance. Market funds like to pile up, the trend of the strong is very obvious, and it is possible for high-quality white horse stocks to continue to rise and overdraw in the future, so it is difficult to judge the ceiling for the time being.
Skyrocketing three quarters report exceeded expectations
The third quarter report officially ended, a number of white horse stocks exploded, but there are still a number of white horse stocks are still strong standing up, causing the hot pursuit of market funds.
On October 31, the leading innovative medicine stock, Wuxi Pharmaceutical Co., Ltd., opened higher and went higher. Within half an hour, the stock price soared, and the fund quickly hit a stop. At about 10 oclock that day, Wuxi apptecs share price closed at 94.07 yuan, and its market value soared to 152.4 billion yuan. In just half a day, its market value soared to more than 12.5 billion yuan. This is also the highest price of Wuxi apptec in the year.
The core positive factor for the intraday trading of Wuxi apptecs stock price is the third quarter results. According to the latest data released, the operating revenue of Wuxi apptec in the first three quarters of 2019 was 9.279 billion yuan, up 34.06% year on year; net profit was 1.765 billion yuan, down 8.46% year on year; non net profit was 1.71 billion yuan, up 36.88% year on year; basic earnings per share was 1.08 yuan.
In addition to yaomingkant, the leading dairy stocks Yili shares, the leading liquor plate Wuliangye also rose sharply on that day.
Yili shares rose more than 8%, while Wuliangye shares rose nearly 4%.
Just a few days ago, in the intensive disclosure stage of the third quarter report, Hengrui pharmaceutical, the leader of pharmaceutical stocks, broke through the 400 billion mark of market value, and the development of Shuanghui reached a new high.
It is worth noting that in addition to the above-mentioned pharmaceutical and consumer Baima, there are still good targets in this round of three quarters, including financial and insurance stocks, which are also good targets in this round of performance.
According to wind statistics, in the first three quarters, ICBC, CCB, ABC, Bank of China and Ping An of China ranked in the top five with net profits of more than 100 billion yuan, and 14 of the top 20 net profits belonged to the financial industry.
Institutional alliance has not ended public offering and capital going to the north to become a big winner
Before that, a group of white horse stocks collectively bombed the thunder, and the performance was lower than the market expectation, then the market capital was sold off, which also made many market people doubt that the buying logic of institutional groups may come to an end.
In fact, from the perspective of the amazing performance of white horse stocks at present, the logic of institutional clustering has not changed much. Whats more, thanks to the sharp rise in stock prices, big institutions such as Beishang capital and public funds have become the big winners of this round of sharp rise in blue chip stocks.
In terms of institutional investors, 17 products of huitianfu fund hold a total of 18.73 million shares at intraday price limit, with a floating profit of 160 million yuan today. E Fonda holds 9.7 million shares in 13 products, and todays floating profit is 82 million yuan. 15 products under Wells Fargo fund hold 9.24 million shares, and todays floating profit is 78 million yuan. Five products of China Europe Fund hold 6.45 million shares, with a profit of 55 million yuan today.
In addition to Wuxi apptec, Hengrui pharmaceutical, Changchun hi tech and Aier ophthalmology are also typical institutional holding stocks.
According to the statistics of the pharmaceutical team of a head securities firm, as of the end of the third quarter of this year, Hengrui pharmaceutical won the first share of several public funds in the pharmaceutical industry. According to the data, at the end of the third quarter of this year, the top 5 Pharmaceutical A shares held by public funds were Hengrui pharmaceutical, Changchun hi tech, Wuxi apptec, tag pharmaceutical and Aier ophthalmology.
In addition to public funds, Beishang capital has no weakness in its investment in dabeima, and there are obvious signs of continuous buying of huge funds.
Take Hengrui Pharmaceutical Co., Ltd. for example, among its top ten circulating shares, the capital purchase volume of Beishang has ranked the third largest circulating shareholder.
Its hard to define the ceiling of HENGQIANG, a top quality stock company
Due to the continuous soaring performance of the strong stocks, it also led to the huge accumulation of funds in the high-quality companies. More and more investors find that the trend of A-share market differentiation is increasingly obvious, the strong is always strong, while the weak is rarely traded.
So, some investors will ask, where is the ceiling of these high-quality white horse stocks? If the valuation is so high, will there be a risk of collapse in the future?
From the current agencys response, it seems that such concerns do not exist. At present, in the analysis of most strong stocks, there is a generally optimistic atmosphere for the performance of follow-up market space of high-quality stocks.
Recently, the pharmaceutical team of Tianfeng securities has released an in-depth report of Hengrui pharmaceutical, which is 120000 words long. In the view of Tianfeng securities, Hengrui pharmaceutical, as the leading enterprise of domestic innovative medicine, will benefit significantly from it. At the same time, the companys in-depth layout of tumor drugs, in the overlapping area of innovative drugs and high-quality tumor track, has formed a situation of industrial and policy resonance, which has double benefits for the company.
However, some private investors began to be cautious. Some investors were worried that the layout of core assets was overheated, and the funds coming into the market were likely to stand guard at a high level, and the investment risk of short-term buying would be magnified.
Some private equity investors pointed out that at present, some white horse stock companies with poor performance began to show signs of capital loosening, and the behavior of reducing white horse stock also occurred from time to time. In particular, the frequent transfer of positions and stock exchange of funds from the north, on the one hand, is subject to the assessment mechanism and profit taking, on the other hand, is also due to the cautious attitude towards the stocks with overvalued value.
Institutional investors remind investors that core assets are at historically high levels, although valuations have not yet been foamed, but to some extent reflect the deterministic premium of core assets themselves. Overestimation often reflects high expectations. Once the performance does not meet expectations, it is easy to stampede.
Source: editor in charge of China Fund News: Yang bin_nf4368