上证指数昨重返3400点之上

Market Performance - A-shares experienced a rise driven by large financial stocks, with the ChiNext index leading the gains, and the Shanghai Composite Index closing above 3400 points [1] - The total market turnover reached 1.35 trillion yuan, an increase of 239 billion yuan compared to the previous trading day [1] - The Shanghai Composite Index closed at 3403.95 points, up 0.86%; the Shenzhen Component Index closed at 10354.22 points, up 0.64%; and the ChiNext Index closed at 2083.14 points, up 1.01% [1] Banking Sector Highlights - The total market capitalization of the banking sector surpassed 10 trillion yuan, setting a historical high [2] - Major banks such as Agricultural Bank of China, Everbright Bank, and Bank of Communications reached historical highs [2] - The banking index has seen a cumulative increase of over 7% year-to-date [2] Financial Sector Dynamics - The insurance and brokerage stocks led the afternoon rally, with China Pacific Insurance rising over 9% and Ping An Insurance's market cap returning to 1 trillion yuan [2] - The logistics and shipping sectors also saw significant gains, with China National Aviation Holding rising by 30% [2] - Net inflows were notable in sectors such as securities, internet services, and insurance [2] Regulatory Impact on Fund Allocation - The recent public fund regulations are believed to influence capital flows towards the brokerage sector, as funds are currently underweight in this area [4] - Public funds have a current allocation of approximately 3.49% in the banking sector, which is underweight by 9.99 percentage points compared to the CSI 300 index [4] - Analysts suggest that fund managers may adjust their portfolios to align with the new regulations, favoring sectors with higher benchmark weights [4] Future Market Outlook - The financial sector's valuation recovery is expected to continue, supported by stable fundamentals and ongoing policy support [5] - The market is anticipated to maintain a volatile upward trend, with structural opportunities and sector rotation being key investment themes [5] - Analysts recommend focusing on growth technology sectors and industries poised for recovery, such as military, offshore wind, and pharmaceuticals [5]