15What are the reasons for the bull market in stocks this year?What are there?

      Stock investment itself is full of uncertainty, and investors have been striving to find certainty from it.2014year7Month to2015In the middle of the year, this bull market can be described as magnificent.AStock market investors should remember very clearly that yearAThe stock market underwent a drastic transformation in terms of heaven and geography. In the early days of that year,AStocks have shown a mad cow state, with various stocks skyrocketing and investors in the market crazily investing. However, in the second half of the year, there was a stock market crash. So15What is the fundamental reason for the bull market in stocks this year?
　　这一轮牛市形成的原因有很多，比如说无风险收益率的下降以及资金的充裕等，如果将这些大的原因进行细分的话，我认为主要有三个方面，首先从基本面的角度来看，2014Year to2015In this year, we are facing a problem that includes both the stock market and the real economy. We have a process of volatile bottoming out, and in this process, a prominent issue is that direct financing for enterprises has become more difficult. If we want to find a better solution to this problem, the most effective way is throughIPOAnd in the2014Especially in the first half of the year, our market environment was not particularly good, and there was even a wave of decline,IPOIt is also suspended. If you want toIPORestarting, the market must have a wave of upward movement and a stable market, in order to encourage companies to pass throughIPODirect financing is conducted through the capital market.
　　另一方面从资金面的角度来看，融资融券已经推行了很多年，但一直到了2015Only in this bull market did it achieve a comprehensive development, starting from the early stages of the bull market4000Billions until the peak of the bull market2.3Trillion yuan, such a sufficient amount of funds undoubtedly boosted the market's rise, accompanied by multiple reserve requirement ratio cuts and interest rate cuts this year. This abundant amount of funds is due to2007Year to2014This year6Not existing in the middle of the year.
　　第三个方面就是技术面的情况，2007The annual market from6124After the drop, the market is basically in a state of consolidation and fluctuating decline during this period. From the situation, a "bottom triangle" is formed, and the most important thing to form a wave of rise is whether there is a combination of quantity and energy at the end of the "bottom triangle". As mentioned before,2015The amount of funds in the bull market is sufficient, and with the help of such a large amount of energy,2015It is reasonable for such a large bull market to form in the year.