Core Viewpoint - The market is expected to enter a phase of consolidation after a rapid rotation, but the medium-term positive trend remains unchanged. The current rally is driven by liquidity, indicating that as long as there is no significant contraction in volume, there will be opportunities for active rotation in the market [1] Group 1: Market Dynamics - The market is likely to experience a short-term consolidation phase while maintaining a structural market characteristic with significant rotation between sectors [1] - Funds are expected to continue seeking a balance between technology growth and defensive sectors, indicating a structural market behavior [1] Group 2: Sector Focus - Hard technology growth areas such as AI, semiconductors, and innovative pharmaceuticals are anticipated to benefit from domestic substitution and industrial upgrade dividends, leading to high-low switching within sub-sectors [1] - The expectation of a rate cut by the Federal Reserve in September may strengthen the weak dollar environment, highlighting the investment value in precious metals [1]
财信证券：市场经历快速轮动后或进入震荡整固阶段 但中期向好趋势未改
Sou Hu Cai Jing·2025-09-04 00:28