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Market review: March 17, 2016

Fang submitted 2016-03-17 15:31:05

Market review:

China stock rose on Fed overnight decision of no hike. And GEM soared 5.55 percent, with Computer section leading the rally to testify some investors’ appreciation of the admiration of AlphaGo from Premier Li.

Research Notes:

Money flowed into Electronics, Machinery and Plastics sectors the most. Zhejiang Jingsheng Mechanical & Electrical (300316.sz )rallied to limit-up for profit improvement of LED products. 

As Fed stance are generally considered dovish, and further hikes look remote, probably in Q3, we felt the cyclical assets got new support for some time, maybe several weeks. Hence we maintain our midterm target for SHA 3000, not for recovery of econ growth, but mostly for easier liquidity context, both domestic and abroad.

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