“反内卷”板块领涨两市，8月布局机构给出这三条主线

Market Overview - A-shares are experiencing a significant rebound, with the Shanghai Composite Index approaching the 3600-point mark, driven by increased market sentiment and institutional fund inflows [1] - The financing balance in the A-share market has surpassed 1.9 trillion yuan, indicating a recovery in margin trading activity [1] Sector Performance - The steel sector has led the market in July, with an index increase of 18.54%, followed by building materials, biomedicine, and non-ferrous metals, which saw gains of 15.98%, 11.83%, and 10.88% respectively [2] - The biomedicine sector has shown strong performance, with the biomedicine index reaching a new high since October 2024, and the CRO index rising by 22.18% since July [4] - The rare earth sector has also performed well, with an average increase of 41.67% among seven listed companies, led by Shenghe Resources, which saw a nearly 71% rise [4] Investment Strategies - As the market approaches the end of July, institutions are focusing on structural opportunities, emphasizing the importance of policy details and mid-year performance reports [6] - Key investment themes include technology innovation, high dividend stocks, and cyclical recovery, with a focus on identifying alpha opportunities that align with performance and valuation [6] - Institutions suggest maintaining a focus on industry-specific investments while avoiding excessive trading in response to macroeconomic fluctuations [7] Future Outlook - The market is expected to transition from a stock-based to a flow-based environment, with potential for further policy-driven improvements in fundamental expectations [6] - The upcoming month of August is anticipated to bring volatility due to external disturbances, but the overall market sentiment remains stable [7] - Key sectors to watch include new energy, non-ferrous metals, and technology-related industries, which are expected to benefit from policy support and improving profit expectations [8]