电子元器件 市场周报 | --- | --- | --- | |------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

今日视点 发布日期：2024 年 09 月 13 日 星期五 爱建证券有限责任公司 研究所 市场策略 产品经理：侯英民 冲高受阻震荡回落 弱势特征依然不改 执业编号：S0820510120003 Tel: 021-68727288 周四沪深股指冲高受阻震荡回落，前市两市股指高开快速上冲即受制于短 E-mail: houyingmin@ajzq.com 期均线的反压掉头逐级震荡下行，代表人气的双创指数表现趋弱领跌市场；全 天海南自贸区板块集体反弹表现强势，华为概念和券商板块盘中有所异动，多 空双方你争我夺互不相让。板块方面延续分化，其中海南自贸区、保险和煤炭 采掘板块表现略显活跃涨幅居前，白酒、锂电固态电池和医药板块整体出现调 整。最终沪深两市收盘均微幅下跌，全天两市成交量 0.51 万亿稍有增加，市 场整体延续低迷量价有所背离。 虽然外围市场出现全面反弹，但 A 股依然还是按照自身特性延续弱势震 荡调整走势，股指冲高受阻上行压力有增无减，多空双方各自为战难分伯仲， 前一天活跃的固态电池板块快速回落，热点板块一日游的脉冲现象市场普遍缺 乏赢利效应，投资者的短期热情极为有限。近阶段政策面暖风频吹，央行、证 监会等 ...

Market Overview - The market has experienced a decline, with the Shanghai Composite Index closing at 2,765.81 points, reflecting a weekly drop of -2.69% and a transaction amount of 1,258.39 billion [8] - The Shenzhen Component Index closed at 8,130.77 points, down -2.61% with a transaction amount of 1,664.79 billion [8] - The overall market sentiment remains stable despite fluctuations in domestic and international economic data, with the RMB exchange rate continuing to rise [8] Style Switching - The market is witnessing a style switch, with low-position sectors becoming active while high-position sectors are experiencing declines [12] - Notable gainers include stocks from the Huawei supply chain and new energy sectors, while significant declines are seen in previously high-performing stocks [12] - The automotive and non-bank sectors are performing well, whereas the oil, petrochemical, and construction sectors are underperforming [12] Valuation Levels - The overall PE ratio for A-shares stands at 15.09, with the ChiNext at 39.00, SSE 50 at 9.75, CSI 300 at 11.02, and CSI 1000 at 29.26, indicating a relatively low valuation level and high safety margin [16][17] Trading Focus - The current market environment suggests a focus on trading opportunities, particularly in low-position sectors aligned with new productive forces and state-owned enterprise reforms [18] - The market is expected to remain in a volatile state without significant improvements in capital supply, making it challenging to escape the current oscillating pattern [18]

今日视点 发布日期：2024 年 09 月 05 日 星期四 爱建证券有限责任公司 研究所 市场策略 产品经理：侯英民 股指延续弱势调整 沪指失守 2800 点 执业编号：S0820510120003 Tel: 021-68727288 周三沪深股指延续弱势震荡调整，前市股指双双低开后即呈现逐级震荡下 E-mail: houyingmin@ajzq.com 行走势，代表人气的双创指数一度快速反弹翻红但最终依然难敌空方抛压重回 跌势，盘中上证指数和沪深 300 以及上证 50 指数均再创近期调整新低。全天 固态电池卷土重来表现活跃略显强势，医药板块整体反弹，消费电子整体出现 调整。板块方面继续分化，其中医药商业、教育和固态电池板块表现略显活跃 涨幅居前，石油采掘、消费电子和通信服务板块整体出现调整，个股涨少跌多。 最终沪深两市收盘涨跌互现，全天两市成交量 0.58 万亿继续快速锐减，市场 参与度延续下降趋势。 本周股指几乎复制了前几周上半周的走势呈现出震荡调整走势，市场做空 力量有所增加，尤其前期维稳的银行权重板块出现整体补跌，唯一不同的是本 周市场风格开始发生悄然改变，市场总体表现为题材概念略显活跃权重金融连 ...

Core Insights - The report indicates a market rebound with the Shanghai Composite Index closing at 2,842.21 points, reflecting a weekly decline of 0.43%, while the Shenzhen Component Index rose by 2.04% to 8,348.48 points, indicating a recovery in market sentiment after a prolonged downturn [2][8]. - The report highlights a significant style shift in the market, with low-positioned sectors becoming active while high-positioned sectors are experiencing declines. Notable gainers include companies in the Huawei supply chain and Western development, while sectors like finance and infrastructure are underperforming [11][16]. - The overall valuation level of the market is considered low, with the average PE ratio for all A-shares at 15.37 times, suggesting a high margin of safety as earnings growth is recovering [15][16]. Market Performance - The report details the weekly performance of major indices, with the Shanghai Composite Index at 2,842.21 points, the Shenzhen Component at 8,348.48 points, and the ChiNext Index at 2,039.79 points, which saw a weekly increase of 2.93% [8][11]. - Trading volumes were substantial, with the total transaction amount for the week reaching 12,880.92 billion yuan for the Shanghai market and 17,303.33 billion yuan for the Shenzhen market, indicating increased market activity [8][11]. Sector Analysis - The report identifies active sectors such as electronics, new energy, and gaming, while sectors like banking and construction are lagging behind. The shift in market style reflects a change in risk appetite among investors [11][16]. - The report emphasizes the importance of monitoring the sustainability of these style shifts and the potential for sector differentiation as the market evolves [11][16]. Investment Strategy - The report suggests focusing on trading opportunities in the short term, particularly in technology and consumer sectors that align with new productivity directions, as these areas are expected to benefit from favorable policy drivers [16]. - It is recommended to maintain a cautious optimism regarding market participation, especially in low-positioned sectors that are likely to see increased investment flows [16].

电子元器件 市场周报 | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------- ...

爱建证券有限责任公司 研究所 市场策略 产品经理：侯英民 股指弱势震荡调整 双创指数领跌市场 执业编号：S0820510120003 Tel: 021-68727288 周三沪深股指弱势震荡调整，股指前市低开后基本在前一天收盘指数下方 E-mail: houyingmin@ajzq.com 震荡波动，全天代表人气的双创指数表现较弱领跌市场，创业板指再创近期调 整新低。全天 AI 眼镜概念集体走强，大基建概念冲高回落，多空双方均表现 谨慎。板块方面延续分化，其中游戏、消费电子和文化传媒板块表现略显活跃 涨幅居前，风电设备、生物制品和航天航空板块整体出现调整。最终沪深两市 收盘均小幅下跌，全天两市成交量 0.47 万亿基本持平维持在地量水平，市场 短期情绪持续低迷。 虽然外围市场均出现不同程度的反弹，但 A 股依然还是按照自身的属性 延续上周股指震荡调整势头，周三股指全天表现弱势基本在低位震荡徘徊，人 气指数率先领跌市场做多力量极为有限，板块脉冲缺乏持续性市场追随意愿不 强，股指全天基本呈现弱势震荡整理走势。近阶段政策面暖风频吹，央行、证 监会等部门持续发声并出台相关措施，落实国常会部署要求，着力稳市场、稳 信心 ...

⑤ 爱3 今日视点 发布日期：2024 年 08 月 13 日 星期二 爱建证券有限责任公司 研究所 日市场策略 产品经理：侯英民 股指弱势震荡调整 成交再创多年地量 执业编号：S0820510120003 Tel: 021-68727288 周一沪深股指延续弱势荡调整,股指低开后全天基本围绕前一天收盘指数 E-mail: houyingmin@ajzq.com 下方震荡波动,盘中深圳成指和创业板指数再创近期新低,全天新冠医药股集 体走强,环保板块表现活跃,而上周有所表现的房地产板块出现集体回落,多 空双方表现谨慎参与意愿明显下降。板块方面延续分化,其中环保设备、新冠 药和医疗器械板块表现略显活跃涨幅居前,房地产、教育游戏和旅游酒店板块 整体出现调整。最终沪深两市收盘均微幅下跌,全天两市成交量 0.49 万亿再 创多年地量，市场短期情绪极度低迷。 中共中央、国务院印发《关于加快经济社会发展全面绿色转型的意见》, 作为中央层面首次对加快经济社会发展全面绿色转型进行系统部署,《意见》 对新能源汽车、风电、光伏等赛道都有重点部署,同时强调坚决遏制高耗能、 高排放、低水平项目盲目上马,坚决控制化石能源消费,"十四五" ...

今日视点 发布日期：2024 年 08 月 13 日 星期二 爱建证券有限责任公司 研究所 市场策略 产品经理：侯英民 股指弱势震荡调整 成交再创多年地量 执业编号：S0820510120003 Tel: 021-68727288 周一沪深股指延续弱势荡调整，股指低开后全天基本围绕前一天收盘指数 E-mail: houyingmin@ajzq.com 下方震荡波动，盘中深圳成指和创业板指数再创近期新低，全天新冠医药股集 体走强，环保板块表现活跃，而上周有所表现的房地产板块出现集体回落，多 空双方表现谨慎参与意愿明显下降。板块方面延续分化，其中环保设备、新冠 药和医疗器械板块表现略显活跃涨幅居前，房地产、教育游戏和旅游酒店板块 整体出现调整。最终沪深两市收盘均微幅下跌，全天两市成交量 0.49 万亿再 创多年地量，市场短期情绪极度低迷。 中共中央、国务院印发《关于加快经济社会发展全面绿色转型的意见》， 作为中央层面首次对加快经济社会发展全面绿色转型进行系统部署，《意见》 对新能源汽车、风电、光伏等赛道都有重点部署，同时强调坚决遏制高耗能、 高排放、低水平项目盲目上马，坚决控制化石能源消费，"十四五"时期严格合 ...

Market Overview - The report indicates that the stock indices in the Shanghai and Shenzhen markets experienced wide fluctuations, with the indices closing nearly flat after a day of volatility. The Shenzhen Component Index and the ChiNext Index reached recent lows during the day, while the consumer sector showed strong rebound performance, particularly in the vitamin and pharmaceutical sectors [1] - The report highlights that after a global market downturn, the Japanese central bank's deputy governor signaled a dovish stance, which helped to ease global market fears and led to a two-day strong rebound. However, the A-share market still faced resistance in its rebound, showing a wide range of fluctuations and a lack of sustained momentum in sector hotspots [1] - Recent policy measures from regulatory bodies like the central bank and the China Securities Regulatory Commission aim to stabilize the market and investor confidence, addressing malicious short-selling behaviors and enhancing market supervision [1] Economic Context - The report notes that the global economic environment is becoming increasingly complex, with rising geopolitical tensions and trade protectionism affecting market stability. The ongoing conflicts in Ukraine and the Middle East, along with the U.S.-China tensions, are contributing to increased uncertainty in the capital markets [1] - The U.S. Federal Reserve's stance on maintaining restrictive policies is highlighted, with indications that interest rate cuts may be on the horizon as inflation rates are not expected to reach the target of 2% soon. This could lead to increased volatility in the U.S. Treasury market and affect global economic conditions [2][3] Sector Analysis - The report identifies specific sectors showing varied performance, with agriculture, vitamins, and liquor sectors performing relatively well, while previously active sectors like education, aerospace, and automotive are experiencing adjustments [1] - The report emphasizes that the market is currently characterized by a structural rotation, with limited new capital inflow and a focus on existing capital competing for returns. This has resulted in a low market participation level and a lack of sustained bullish sentiment [3] Company Insights - The report provides insights into specific companies, such as Qu Mei Co., which is recognized for its high-quality wooden furniture and strong brand influence in the domestic market. The company aims to provide comprehensive home solutions with a focus on stylish and original designs [6][10] - Guangsheng Tang is noted for its leading position in the antiviral drug market for hepatitis B, with significant revenue growth from 126 million to 254 million from 2012 to 2014, reflecting a compound annual growth rate of 42.23% [14][18] - The report also mentions the expansion plans of Lao Baixing, a pharmacy chain with a strong market presence in several provinces, aiming for aggressive growth in the next three to five years [22][26]