Group 1 - The A-share market is experiencing a short-term decline in risk appetite, influenced by adjustments in new consumption and innovative pharmaceuticals, while maintaining a positive medium-term outlook on fundamental trends [2][8] - The banking sector is becoming a preferred choice for risk-averse investors due to its low volatility and high cash flow characteristics, with current valuations at historically low levels [6][8] - The focus on defensive assets includes banks benefiting from insurance stake increases and leading liquor brands entering high dividend yield configurations [2][6] Group 2 - The A-share market is expected to gradually rise in the second half of 2025, supported by fiscal stimulus, interest rate cuts in the US, and improvements in deflation and emerging industries [3][8] - Key sectors to watch include innovative pharmaceuticals, service consumption (beauty, pets, retail, social services), AI applications, and public utilities [3][8] - The consumer electronics industry is seeing a structural differentiation in demand, with a strong performance expected in AI-related sectors and domestic alternatives [9][12] Group 3 - The securities industry is projected to experience a net profit growth of 19% in 2025, with a focus on low allocation stocks and potential mergers and acquisitions [10][11] - The healthcare sector is adjusting, with a focus on innovative medical devices and the long-term potential of innovative pharmaceuticals [12][14] - The computer industry is expected to benefit from domestic substitution, AI technology applications, and the release of intelligent computing demand [13][14]
十大机构看后市：A股短期可能延续震荡趋势 继续均衡配置 聚焦估值性价比
Xin Lang Zheng Quan·2025-06-22 08:33