A股：历史重演？午盘突发跳水，三大指数集体回调，真相令人意外

Market Overview - The A-share market experienced a collective adjustment with the Shanghai Composite Index down by 0.10%, Shenzhen Component Index down by 0.26%, and ChiNext Index down by 0.32% [1] - Over 3,400 stocks declined, with the non-ferrous metals, agriculture, and steel sectors leading the losses at 2.67%, 2.27%, and 1.46% respectively [1] Market Sentiment - Market liquidity showed a significant decrease, with overall trading volume down by 12.81% compared to the previous trading day, indicating a strong sense of caution among investors [3] - The electronic sector saw a trading volume of 189.76 billion yuan, but this was still a 20.38% drop from the previous day [3] Sector Performance - The cyclical sectors, particularly basic metals, agriculture, and steel, faced substantial corrections, with the battery sector also following suit [3] - The decline in the non-ferrous metals sector is not an isolated event, as it had previously seen a 3% to 4% drop in early August [6] Economic Indicators - The market is closely watching the Federal Reserve's upcoming meeting, with expectations of a potential interest rate cut of 25 to 50 basis points, which has influenced U.S. Treasury yields and the stock market [3] - Concerns about economic uncertainty are prompting some investors to take profits ahead of the Fed's decision [3] Technical Analysis - The Shanghai Composite Index is facing adjustment pressure, particularly around the 3600-point level, which is a significant area of previous trading activity [3] - The daily RSI indicator has shown that the index has entered an "overbought" zone, suggesting a need for technical correction [4] Gold Market Dynamics - In contrast to other sectors, gold prices have risen, with COMEX gold futures surpassing $2400 per ounce, driven by cautious Fed policies and geopolitical risks [9] - Domestic gold stocks, such as Zijin Mining and Shandong Gold, have also seen significant price increases, with some rising over 8% in a week [10] Currency Fluctuations - The volatility in the currency market has increased, with the RMB showing a "dual-directional elasticity" against the USD due to fluctuating Fed rate cut expectations [10] - The RMB appreciated to around 7.05 but later adjusted to 7.20 as the dollar strengthened [10] Investor Behavior - Ordinary investors may find current market fluctuations challenging, as those who entered the market based on rate cut expectations may face losses if they chase high-tech stocks or industrial products [11] - A cautious approach is advised, as the market is undergoing a self-correcting process with funds shifting between sectors [11]