As for the relationship between fundamentals and the stock market, which everyone has been struggling with, a research report on the stock market outlook for released today by China Cinda Securities mentioned that, referring to the stock market performance during the decline period of real estate in the United States, Hong Kong, China, and Japan, the stock market recovered faster than the economic stabilization and recovery. Among the three largescale bull markets in the history of Ashares, only one relied on profits, but all three times there were policies that affected the improvement of the microinvestor structure of the stock market.
The research report points out that for most of the time in history, Ashares poland phone number list have been a financing market, and there have been a few times when the scale of equity financing was lower than the dividends of listed companies 1995, 2005, and 2013. After these times, regardless of whether the economy improves or not, the stock market will experience a larger bull market.
Cinda Securities found that this round of policies since September has changed the supply and demand structure of the stock market.
In the first 11 months of this year, the dividend and repurchase amounts reached historical highs dividend amount: 1,815.7 billion yuan, repurchase amount: 485.2 billion yuan. The scale of equity financing during the same period was 272.2 billion yuan, and the scale of net reduction in holdings was 19.965 billion yuan, both close to the lowest level since 2007.