A股缩量调整成交骤降 外资机构看好结构性机会

Market Overview - A-shares experienced a slight decline with the three major indices closing lower, and trading volume significantly decreased by 811.3 billion yuan compared to the previous day, indicating a strong market wait-and-see sentiment [2][3] - The Shanghai Composite Index fell by 0.30% to close at 3820.09 points, while the Shenzhen Component Index decreased by 0.04% to 13070.86 points, and the ChiNext Index dropped by 0.16% to 3091.00 points [3] Policy Signals - The State Council Information Office is set to hold a press conference on September 22, 2025, to discuss the achievements of the financial industry during the 14th Five-Year Plan period, which is highly anticipated by the market for potential policy signals [3][4] - Analysts believe that this press conference may provide new policy guidance, and investors are closely monitoring the regulatory assessment of the financial industry's development and future policy direction [3] Index Adjustments - The FTSE Russell index adjustments led to notable movements in several large-cap stocks during the closing auction, with stocks like NewEase, Zhongji Xuchuang, WuXi AppTec, and BeiGene seeing significant increases, while China National Nuclear Power, China Unicom, and Wanhua Chemical experienced declines [4][5] - The FTSE China A50 Index included stocks such as BeiGene-U, NewEase, WuXi AppTec, and Zhongji Xuchuang, while excluding China National Nuclear Power, China Unicom, Guodian NARI, and Wanhua Chemical [5] Market Sentiment and Future Outlook - The recent interest rate cut by the Federal Reserve, reducing the target range to 4.00%-4.25%, is expected to shift the policy focus towards stabilizing growth and employment, which historically has led to improved returns in domestic equity assets, particularly in the ChiNext Index [5][6] - Analysts anticipate that the resumption of the Fed's rate-cutting cycle will not only boost global risk appetite but also significantly enhance liquidity expectations in emerging markets, suggesting a dual benefit for A-shares and Hong Kong stocks [5][6] - The A-share market is likely to continue its upward trend, supported by policy-driven and profit improvement factors, although short-term volatility risks should be monitored [7]