经过周一市场逾百只个股集体跌停的恐慌性行情之后，昨日市场经过震荡走高。值得一提的是，虽然中报业绩因素依然导致部分个股持续杀跌，但昨日以券商地产为代表的权重股企稳反弹也在一定程度上提振了市场信心。

after more than one hundred individual stocks on Monday market only collective drop stop after the market panic，Market after shock go high yesterday。It is，although performance center daily news factors in some stocks still for winners，But yesterday with real estate brokers as a representative of the weight of stabilising rebound in a certain extent also has boosted the confidence to the markets。

　　金融地产领涨

Financial real estate brought up

　　昨日，宏源证券(000562,股吧)早盘震荡小幅走高，但临近午盘，该股突然发力，股价迎来直线上冲甚至一度触及涨停板。午后，该股冲高回落，但收盘依然大涨6.46%。从该股近期走势来看，宏源证券近期表现相对抗跌，该股股价近期沿60日均线震荡走高。昨日该股突然放量大涨，盘中18.73元的最高价也创下该股年内新高。

yesterday，Hongyuan securities(000562,Shares it)Earlier in a concussion higher，But in midday near，The stock suddenly send force，Share prices have line rushed was even touch harden board。afternoon，The stock fell at high，But still finished rose 6.46%。From the recent trend of see，Hongyuan securities in recent performance against fall，The shares recent 60 average daily walk along the high line concussion。Yesterday the stock tumbled suddenly issuance，Pan 18.73 yuan the highest also set the stock year highs。

　　截至收盘，除宏源证券外，其余券商股全线飘红。其中，广发证券(000776,股吧)大涨4.60%、华泰证券(601688,股吧)、招商证券(600999,股吧)、国元证券(000728,股吧)等7只券商股涨幅均逾3%。

By the closing，In addition to hongyuan securities outside，The rest of all brokers turn red。among them，Wide hair negotiable securities(000776,Shares it)Rose 4.60%、Huatai securities(601688,Shares it)、Merchants securities(600999,Shares it)、Countries yuan securities(000728,Shares it)Only seven other brokers shares rose by more than 3%。

　　除券商股外，其余金融板块个股昨日均表现不俗。其中，宁波银行(002142,股吧)和南京银行(601009,股吧)盘中持续震荡走高，最终收涨均逾2%。北京银行(601169,股吧)、深发展(000001,股吧)A、民生银行(600016,股吧)等个股紧随其后，昨日涨幅均逾1%。另外，4只保险股也全线飘红。中国人寿(601628,股吧)昨日上涨2.11%。

In addition to the brokers shares，The rest of the financial sector stocks yesterday all represented not common。among them，Ningbo bank(002142,Shares it)and nanjing bank(601009,Shares it)Pan remain volatile go up，Finally ended up are more than 2%。Beijing bank(601169,Shares it)、Shenzhen development(000001,Shares it)a、Minsheng bank(600016,Shares it)Individual stocks such as followed close behind，Yesterday rose by more than 1%。In addition，4 only insurance stocks also all wave red。China life(601628,Shares it)Rose 2.11% yesterday。

　　值得一提的是，昨日地产板块也明显发力。中关村、海德股份(000567,股吧)、世纪星源(000005,股吧)、中粮地产(000031,股吧)、华丽家族(600503,股吧)等5只个股集体涨停。其中，中粮地产昨日公告称，公司全资子公司中粮地产集团深圳房地产开发有限公司与深圳市前海深港现代生活服务业合作区管理局签订了合作框架协议。受该消息刺激，昨日开盘后，中粮地产股价直线拉升，并快速封停。

It is，Yesterday the real estate sector also obvious hair force。zhongguancun、Hyde shares(000567,Shares it)、ShiJiXing source(000005,Shares it)、Cofco real estate(000031,Shares it)、Luxuriant family(600503,Shares it)Only five individual stocks collective harden。among them，Cofco real estate announcement yesterday，Cofco real estate group is a wholly owned subsidiary of shenzhen real estate development Co., LTD and shenzhen sea port of deep before modern life service industry zone administration signed a cooperative frame agreement。By this news stimulation，Yesterday after the opening of the，Cofco real estate stock straight line pull litre，and rapid closure。

　　另外，主流地产股依然维持强势格局。其中，万科昨日冲高回落，盘中9.95元的最高价再创年内新高。而招商地产(000024,股吧)昨日也上涨2.14%。

In addition，Mainstream property counters were still remain strong pattern。among them，China vanke yesterday blunt high fell back，The highest 9.95 yuan again plate year highs。and the real estate investment(000024,Shares it)Yesterday is up 2.14%。

　　分析人士指出，虽然中报业绩因素依然导致部分个股持续杀跌，但昨日以券商地产为代表的权重股企稳反弹也在一定程度上提振了市场信心。可以说，这些权重股尤其是银行股能否阶段性企稳是影响大盘后市的重要因素之一。

analysts say，although performance center daily news factors in some stocks still for winners，But yesterday with real estate brokers as a representative of the weight of stabilising rebound in a certain extent also has boosted the confidence to the markets。Can say，These weights shares especially bank stocks could stage stabilising effect is grail is one of the important factors。

　　国金证券(600109,股吧)投顾姚凤平认为，昨日盘面在银行地产保险以及券商等权重股的带领下，指数在下降通道下轨反弹，属于超跌反弹。但成交量再度萎缩，量能不足，没有场外资金进场，反弹有限，股指有再次回落的要求，操作上建议轻仓观望。

Countries gold securities(600109,Shares it)YaoFengPing think their shots，Yesterday in the bank and real estate disk insurance brokers, under the leadership of weight，Index down under in the channel rail rebound，Belong to the fall rebound。But again, the volume of atrophy，Insufficient quantity can，No outside of the capital into play，Rebound limited，Stock index has dropped again requirements，Operation Suggestions on light warehouse on the fence。

　　券商业绩弹性确定，继续关注

Brokers performance elastic sure，Continue to focus on

　　目前，权重板块目前走势形态差异较大，比如主流地产股目前保持较高的上升通道。保险股目前处于高位震荡格局。多数券商股由于前期出现一波较大幅度的调整，目前处于反抽行情中。而银行股也依然处于探底的过程中。

at present，Weight plate at present trend form difference is bigger，Such as the mainstream now maintain a higher up the property counters were channel。Insurance stocks is at a high concussion pattern。Most of the early appear because brokers wave in dramatic adjustment，Now in the smoke in the market。and the bank shares also are still in the process of the agent。

　　对于保险板块，银河证券认为，中国太保(601601,股吧)发布中期业绩预减公告，业绩下降55%，同期资产减值准备增加是主要原因。目前，保险板块仍在“创新福祉”的影响下具备较大向上弹性。从估值角度来看，保险板块估值处于历史底部区域。 看好保险板块创新发展带来的行业基本面改善机会。

For insurance plate，Galaxy securities think，What China(601601,Shares it)Release the medium-term performance reduced public announcement，Performance dropped 55%，In the same period increased assets impairment is the main reason。at present，Insurance plate is still in“Innovative welfare”Under the influence of the larger up with flexibility。From valuation terms，Insurance plate in the bottom area of the history valuation。 Bullish on insurance plate innovation with the development of industry fundamentals improvement opportunities。

　　券商股下半年的基本面因素和政策因素有望好于上半年。一方面是业绩同比快速增长的阶段，并有可能出现近三年来首次的持续两个季度同比增长的情形，另一方面是券商创新政策逐步落实，并且在部分领域实现制度创新。

Brokers shares in the second half of the fundamentals and policy factors is expected to good in the first half of the year。On the one hand up performance of fast growth stage，and there may be near for the first time in three years of continuous two quarters year-on-year growth of the case，On the other hand is brokers innovation policy unfolds，In some fields and realizing the system innovation。

　　长江证券(000783,股吧)认为，尽管6月成交量极度萎靡且指数下跌，但券商股月度母公司盈利仍接近前5个月平均水平，成本控制、股票自营扭亏、两融收入倍增等因素使券商已走出去年二季度以来盈利甚微的困境，下半年也是OTC、经纪和资管新规等重量级政策出台的密集期。券商股的表现也将会进一步分化，未来 1-2 年内，客户资源的相对多寡决定了券商创新的潜力，按照我们的测算，华泰、宏源、海通、光大等券商在创新落实的1-2年内业绩提升幅度相对更快。

Yangtze river securities(000783,Shares it)think，although June volume extreme depression and index fell，But brokers in the parent company of monthly profit is still close to the first five months of the average level，Cost control、Stock self-supporting putting、Two factors such as melting earnings multiply that brokers already out of the second quarter earnings last year since the little trouble，The second half is also OTC、Brokerage and information management related new rules and policies of the dense heavyweight。Brokers shares were also will develop further，The future 1-2 years，The customer of the relative amount of resources to the potential of the brokers innovation，according to our estimates，China peaceful、hongyuan、haitong、Everbright securities such as in the implement of innovation in 1-2 years relative performance by ascending faster。

　　广发证券认为，目前市场情绪陷入强烈的悲观状态，加速了市场底部的到来，中长期来看，随着政策的放松、经济状况好转，下半年市场向上的可能性比较大。但从短期来看，要把握盈利状况好的预增企业，从中挑选价值低估的个股。

Wide hair negotiable securities that，at present the market mood in strong pessimistic state，The arrival of the speed market bottom，Long-term to see，With the relaxation of the policy、Good economic，The second half of the market up the possibility of more。But in the short term，To grasp the profitability gets good increase enterprise，Choose to underestimate the value of the stocks。