特朗普搅动市场！港A股短暂“跳水”，警惕变盘信号？

Market Overview - A-shares showed signs of weakness after three consecutive days of gains, with major indices experiencing fluctuations [1] - The Shanghai Composite Index rose by 0.12% to 3638.40, while the ChiNext Index fell by 0.52% to 2346.59, and the Shenzhen Component Index decreased by 0.13% to 11163.36 [2] Sector Performance - Sectors such as rare earths, steel, non-ferrous metals, and large aircraft saw significant declines, while medical devices and consumer electronics performed well [1] U.S. Tariff Policy - Former President Trump announced a new wave of tariffs, including a potential 250% tariff on pharmaceuticals and approximately 100% on chips and semiconductors, with exemptions for "Made in America" products [5][6][7] - The tariffs are expected to increase pressure on the domestic semiconductor industry in the short term, but may strengthen the resolve for self-sufficiency in the long term [9] Federal Reserve and Economic Outlook - There is a rising expectation for interest rate cuts by the Federal Reserve, with a 95% probability of a rate cut in September and an anticipated total reduction of 62 basis points this year [11][12] - The U.S. economy and labor market are showing signs of significant slowdown, prompting discussions on the need for monetary policy adjustments [11] Foreign Capital Inflow - Foreign capital inflow into the Hong Kong and A-share markets has accelerated, with a net inflow of $2.7 billion in July, surpassing previous months [13] - The total net inflow of foreign passive funds this year reached $11 billion, indicating a strong interest from international investors [13] A-share Market Dynamics - The margin trading balance in the A-share market has exceeded 2 trillion yuan for the first time in a decade, reflecting increased market participation [15] - New account openings in the A-share market have surged, with a year-on-year increase of 70.54% in July, indicating a growing interest from retail investors [15]