午评：沪指震荡微跌，化纤、石油等板块拉升，风电概念活跃

Core Viewpoint - The market is currently experiencing a phase of rebalancing and expectation reconstruction, influenced by both bullish and bearish factors, with a notable divergence between economic recovery and market sentiment [1] Market Performance - Major stock indices showed fluctuations, with the Shanghai Composite Index down 0.18% at 3846.33 points, Shenzhen Component Index down 0.79%, and ChiNext Index down 1.17% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.382 trillion yuan [1] Sector Analysis - Sectors such as media, tourism, pharmaceuticals, and home appliances declined, while sectors like chemical fiber, petroleum, agriculture, real estate, electricity, and food and beverage saw gains [1] - Military trade and wind power concepts were particularly active in the market [1] Investment Environment - The current liquidity environment remains loose, with an ongoing "asset shortage" leading to increased inflow of external funds into the equity market [1] - There is a gradual shift of household savings towards the capital market, alongside an increase in foreign capital allocation to A-shares, which supports the market [1] Economic Context - The overall valuation of A-shares has recovered to historically high levels, prompting some investors to realize profits, intensifying market volatility [1] - The core contradiction in the market lies between the reality of weak economic recovery and the prevailing bullish sentiment [1] - Comparatively, China's economic resilience remains relatively strong among major global economies, with significant operational space in fiscal and monetary policies, providing a potential foundation for continued capital inflow into A-shares [1]