博时市场点评9月22日：两市缩量整固，电子板块领涨

Market Overview - The three major indices in the A-share market experienced fluctuations and closed higher, with the Shanghai Composite Index at 3828.58 points, up 0.22% [4] - The total market turnover decreased to 2.1 trillion yuan, indicating cautious trading behavior as the holiday approaches [1] - Margin trading balances decreased by 4.2 billion yuan, reflecting a marginal contraction in leveraged fund sentiment [1] Economic Policy and Monetary Environment - The People's Bank of China announced that the Loan Prime Rate (LPR) remained unchanged at 3.0% for the one-year term and 3.5% for the five-year term, consistent with market expectations [2] - The stability of the LPR is intended to maintain continuity in the interest rate environment, as the macroeconomic policy is currently in an observation phase [2] - The central bank conducted a 240.5 billion yuan reverse repurchase operation at a rate of 1.40%, indicating efforts to manage liquidity ahead of the quarter-end and holiday [3] Steel Industry Developments - The Ministry of Industry and Information Technology released a plan for the steel industry aiming for an average annual growth of around 4% in value-added output from 2025 to 2026 [3] - The plan addresses the imbalance of excessive supply and insufficient effective demand, focusing on precise capacity control and enhancing high-end product supply capabilities [3] - The initiative aims to stabilize the industrial base and promote the transformation and upgrading of traditional industries, potentially benefiting leading steel enterprises through resource concentration and industry consolidation [3] Sector Performance - In the stock market, sectors such as electronics, computers, and non-ferrous metals showed strong performance, with increases of 3.71%, 1.70%, and 0.98% respectively [4] - Conversely, sectors like social services, beauty care, and retail experienced declines, with drops of 2.04%, 1.36%, and 1.31% respectively [4] - A total of 2132 stocks rose while 2990 stocks fell, indicating a mixed market sentiment [4]