96天 沪指涨近800点！这波“慢牛”其实比你想得更“快”

Core Viewpoint - The recent performance of the A-share market demonstrates a "slow bull" trend, characterized by gradual increases in the Shanghai Composite Index, which recently surpassed 3800 points, indicating a steady upward trajectory over the past four and a half months [2][4]. Market Performance - The Shanghai Composite Index has shown a consistent upward movement, breaking through key psychological levels with decreasing time intervals, suggesting that the current "slow bull" market is not as slow as historical trends [4]. - The index has risen approximately 800 points from 2966 points in June 2020 to 3731 points in February 2021, taking 35 weeks, while the current rise has been more rapid [5][6]. Trading Dynamics - The index has experienced few significant daily increases, with only eight days in 96 trading days where the closing price rose over 1% [6][7]. - Despite the overall upward trend, individual stock performance has been volatile, with periods of significant gains followed by weeks of declines [10][12]. Sector Rotation - The market has seen a rotation in sector leadership, with small-cap stocks initially leading but later giving way to technology stocks, particularly in the recent half-month period [15]. - The rise of technology stocks, exemplified by the performance of companies like Cambricon, highlights a shift towards sectors with strong growth potential [15][20]. Investment Outlook - Analysts suggest focusing on three main investment themes: high-growth technology sectors, industries with strong performance indicators, and real estate, which may see valuation recovery due to easing policies [17][18]. - Foreign institutions are increasingly optimistic about Chinese assets, citing competitive advantages in technology research and development as key attractions for growth stocks [20].