【机构策略】短期大盘或保持震荡蓄势

Group 1 - The overall investor sentiment in the A-share market remained stable in May, benefiting from the improvement in China-US trade relations in the first half of the month, but concerns over domestic demand and weak price signals led to a cooling in the second half [1] - As the China-US trade conflict enters a stable phase, the market's risk appetite is expected to continue to recover, with overseas factors likely to ease their suppressive effect on sentiment [1] - Domestic economic conditions are generally stable, with industrial production expected to maintain a high level of prosperity, while weak domestic demand and price signals may be the main short-term factors suppressing sentiment [1] Group 2 - The A-share market experienced slight fluctuations, with banks, electricity, pharmaceuticals, and shipping ports performing well, while sectors like semiconductors, aerospace, software development, and electric machinery showed weaker performance [2] - Following the implementation of interest rate cuts, the overall liquidity in the market is abundant, and there is still room for monetary policy to expand, which may be adjusted in response to external environmental changes [2] - The market is expected to maintain a steady upward trend in the short term, with close attention needed on policy, liquidity, and external market changes [2]