财经观察丨A股市值首破100万亿，沪指创近十年新高！牛市行情能否持续？

Market Overview - A-share market reached a historic moment on August 18, with the Shanghai Composite Index rising by 0.85% and hitting a nearly 10-year high of 3741.29 points, surpassing the previous high of 3731.69 points from February 18, 2021 [1] - The total market capitalization of A-shares exceeded 100 trillion yuan for the first time, attracting significant attention from market participants [1] - The trading volume in the Shanghai and Shenzhen markets reached 2.76 trillion yuan, marking a year-to-date high and an increase of 519.6 billion yuan from the previous trading day [2] Sector Performance - AI hardware-related sectors became market focal points, with stocks like Feilong Co. and Cambridge Technology hitting the daily limit [4] - The film and television sector also performed well, driven by strong box office results during the summer season, with stocks like Jishi Media and Huace Film & TV reaching their daily limit [4] - Overall, more than 4,000 stocks in the Shanghai and Shenzhen markets saw gains, with 3,771 stocks rising and 117 stocks hitting the daily limit [4] Market Sentiment and Future Outlook - Analysts suggest that the current market is experiencing a "healthy bull" phase, supported by policy backing and liquidity easing [4][7] - The core driving factors for the ongoing market rally are identified as "policy support + liquidity easing," with expectations for continued upward momentum [4][5] - The market sentiment remains optimistic, with potential for a "structural bull market" as liquidity conditions remain favorable [5][7] Investment Strategies - Analysts recommend maintaining a high position in the market, focusing on sectors such as AI, innovative pharmaceuticals, military, and large financial institutions [7] - There is an emphasis on the importance of institutional participation, with a noted increase in new institutional accounts correlating with the issuance of equity funds [7] - The potential for a new "institutional bull" market is highlighted, driven by positive feedback between asset and liability sides [7]