博时市场点评6月4日：两市继续上涨，创业板涨超1%

Market Overview - The three major indices in the A-share market continued to rise, with the ChiNext Index increasing by over 1% and total trading volume slightly expanding to over 1.17 trillion [1] - The recent PMI data from the National Bureau of Statistics and Caixin indicates that both are in the contraction zone, highlighting insufficient demand as a primary issue [1][2] Economic Policy and Trade - U.S. President Trump announced an increase in tariffs on imported steel and aluminum from 25% to 50%, effective June 4, 2025, which may create uncertainty for companies in formulating long-term strategies [2] - The domestic steel industry faces short-term cost pressures, but policies like "old for new" may partially offset these challenges [2] Manufacturing Sector Insights - The Caixin manufacturing PMI for May recorded 48.3, a decrease of 2.1 percentage points from April, marking the first drop below the critical point since October 2024 [2] - Both official and Caixin PMI data are in the contraction zone, with the Caixin data reflecting a more significant decline, likely due to its focus on small and medium-sized enterprises [2] Market Performance - On June 4, the A-share market saw the Shanghai Composite Index close at 3376.20 points, up 0.42%, and the Shenzhen Component Index at 10144.58 points, up 0.87% [3] - Among the sectors, beauty care, comprehensive, and textile apparel led the gains, while transportation, defense, and public utilities experienced declines [3] Capital Flow - The market turnover reached 11,776.08 billion, an increase from the previous trading day, with the margin financing balance reported at 18,044.88 billion, also up from the prior day [4]