上证指数创近十年新高，股民、基民、机构的“热”和“冷”

Market Overview - The Shanghai Composite Index reached a nearly ten-year high, surpassing 3700 points, with the total market capitalization of A-shares exceeding 100 trillion yuan [3][10] - Predictions suggest that the index could rise to 5000 points within a year, indicating a bullish sentiment among experts [3][10] Investor Sentiment - Investor sentiment is mixed, with some expressing excitement over recent gains, while others remain cautious due to past market downturns [3][10] - The number of new A-share accounts surged to 1.9636 million in July, a year-on-year increase of 70.54% [3][10] Fund Performance - Active equity funds have shown a strong recovery this year, with an average return of 20% and 97.6% of funds reporting positive returns [7][9] - Over 150 funds have announced "purchase limits" in the past month, indicating a response to increased demand and to protect existing investors [9] Trading Behavior - There has been an increase in trading turnover and a shift towards growth-oriented investments, although many investors still prefer high-quality blue-chip stocks [6][10] - Investors are becoming more proactive in their trading strategies, with a growing interest in diversified asset allocation [6][10] Market Dynamics - The current market is characterized as a "healthy bull" phase, supported by improved earnings expectations and steady inflow of new capital [10][11] - The shift in public fund management philosophy from "scale" to "returns" is evident, with a focus on sustainable performance rather than just asset accumulation [9][11]