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1、InvestmentStrategyFor2011EmergingandConsumerGoodsIndustries:ReformandRevaluationKeypoints:lBeconfidentintheAsharestockmarket.ItisassumedthatthefluctuationofShanghaiCompositeIndexwillbeintherangeof2,700and4,000points.Theindexmovementsmayhaverisingandfluctuatingconstantlywithalowinthebeginningandahigh
2、attheend.lThestockmarketwillbeaffectedbyinflationandpolicychanges.Becauseofgrowinginflationpressure,whichleadstoaprudentmonetarypolicy,tighteningmonetarypolicyishighlyexpected.TheinflationandpolicychangesaretheimportantfactorstodeterminetheAsharemarketmovements.lThestockmarketliquidityisadequate.Neg
3、ativeinterestratemakesresidentassetallocationmoredifficult.Asaresult,thestockmarketisthemainplacetomaintainandincreasethevalueofassets,thus,itwillbeahighpossibleeventthatresidentsavingmovestothestockmarket.lCompanyprofitsincreasesteadyandshareevaluationisinthelow-level.Thenetprofitofalllistedcompani
4、esintheAsharestockmarketisestimatedtogrow18%in2011.Thereisaspacetoimprovethewholesharevaluation,butitisjustalittle,asthelarge-capstocksareundervaluedandtheirsmallcounterpartsarerelativelyexpensive.lTheemergingandconsumergoodsindustriesareemphasized,αstrategyfirst,followedbyβ.Theemergingandconsumergo
5、odsindustriesarerevaluedbecauseofeconomyreform.Therefore,itisimportanttocontrolinvestmentandmainlyimplementtheαstrategybyfocusingonthemiddleandsmall-capgrowthfirms.Andthenbyincreasinginvestmentonperiodicalstocksinthesecondhalfyear,theβstrategyshouldbepayattentionto.lPortfolio:DongfangElectric(),TBEA
6、Group(),DatangTelecomTechnology(),Neusoft(),Wisesoft(),SoundEnvironmentalResources(),YiliIndustrialGroup(),WangfujingDepartmentStoreGroup(),TianshanSinoma()andGreeElectricAppliances()MainIndexShanghaiComp.IndexHS300Source：ChinagalaxysecuritiesresearchStrategistsQINXiaobin(：（8610）66568746*：qinxiaobin
7、@chinastock.com.cnCertificateNo.：S49WANGHaoxue(：（8610）66568607wanghaoxue@chinastock.com.cnCertificateNo.：S66WANGFang(：（8610）66568945*：wangfang@chinastock.com.cnCertificateNo.：S49MarketDataTotalMV(tril
