Market Overview - A-shares experienced a pullback after reaching new highs, with the Shanghai Composite Index fluctuating around 3600 points, while the Shenzhen Component, ChiNext, and CSI 300 also saw corrections after setting annual highs [1] - Weekly trading volume slightly decreased to 9.05 trillion yuan, but margin traders continued to significantly increase their positions, with a net buy of 37.2 billion yuan over the week, marking the sixth consecutive week of net purchases exceeding 10 billion yuan [1] - The margin balance reached 1.97 trillion yuan, the highest level in 10 years since June 2015 [1] Sector Performance - Most industries under the Shenwan primary sectors received net margin purchases, with the pharmaceutical and electronics sectors each gaining over 6 billion yuan in net buys, while the computer sector saw over 3 billion yuan [1] - The coal, oil and petrochemical, non-ferrous metals, and agriculture sectors experienced slight net selling [1] Capital Flow - The pharmaceutical sector was favored by major funds, receiving a net inflow of over 30.8 billion yuan over the week, while the electronics sector attracted over 25.1 billion yuan [1] - The non-ferrous metals sector faced a net outflow of over 10.4 billion yuan, with transportation, food and beverage, and non-bank financial sectors also seeing significant outflows [1] Pharmaceutical Sector Insights - The pharmaceutical and biotechnology stocks demonstrated strong resilience during market adjustments, with indices related to hepatitis and Helicobacter pylori reaching historical highs [2] - The Chinese government is implementing a healthcare foundation project to strengthen grassroots medical services, which may benefit the pharmaceutical sector [2] - Traditional Chinese medicine (TCM) is expanding globally, with significant achievements in service exports, reaching 196 countries and treating over one-third of the world's population [2] Market Projections - The Chinese TCM market is projected to reach 550-600 billion yuan by 2025 and further increase to 1.2-2 trillion yuan by 2030, with a compound annual growth rate of 10-14% [3] - Continuous growth in R&D investment among TCM companies is expected to support future development, with innovation in TCM and biopharmaceuticals likely to provide additional valuation flexibility [3] - Analysts suggest that the recent market adjustments do not alter the long-term upward trend, with a strong support level identified at 3480 points [3]
A股震荡整固 医药生物板块获资金持续加仓
Zheng Quan Shi Bao·2025-08-01 17:17