帮主郑重盘前策略：A股震荡分化，外资抄底、内资做T，机会在哪？

Market Overview - A-shares experienced a volatile trading session with the Shanghai Composite Index down 0.39%, the Shenzhen Component up 0.26%, and the ChiNext Index down 0.76% [1] - Northbound capital saw a net inflow exceeding 12 billion over three consecutive days, focusing on liquor and new energy sectors, while domestic investors frequently traded technology stocks [1] Fund Flow and Market Sentiment - Trading volume decreased to 2.68 trillion, down 460 billion from the previous day, indicating a cautious market sentiment with investors unwilling to chase high prices [3] - The Shanghai Composite Index maintained the 3825-3840 gap, and the ChiNext Index held above the critical support level of 2700, suggesting a healthy short-term adjustment [3] - Margin financing balance reached a historical high of 2.18 trillion, particularly concentrated in the technology sector, raising concerns about potential forced liquidations in case of a market downturn [3] Sector Performance - Foreign capital continued to increase positions in liquor and new energy, with stocks like Kweichow Moutai and CATL rising, reflecting confidence in China's consumption recovery and long-term new energy trends [3] - Domestic investors took profits in high-priced technology stocks, with stocks like Cambrian Technology dropping over 6% [3] - Institutional funds still showed net inflows into the AI computing sector, indicating ongoing interest in this area despite market fluctuations [3] Policy and Economic Signals - Positive policy signals emerged with Shanghai easing housing purchase restrictions and increasing public housing loan limits, benefiting real estate stocks like Poly and Vanke [3] - The State Council introduced the "Artificial Intelligence+" action plan, supporting AI chips and software ecosystems, which is expected to benefit sectors like computing power, optical modules, and servers [3] Investment Strategy - Long-term investors are advised to position in established AI leaders during market adjustments, while liquor and new energy sectors are recommended for defensive allocations [4] - Real estate stocks are suitable for short-term trading but should be approached with strict stop-loss measures [4] - Attention should be paid to upcoming U.S. PCE data, as inflation exceeding expectations could pressure high-valuation stocks [4] - The current market is characterized by a tug-of-war between policy and capital, with increasing internal and external divergence [4]