Sou Hu Cai Jing·2025-11-16 07:11Market Overview - The A-share market experienced fluctuations and adjustments this week, with most broad-based indices declining, particularly the Sci-Tech 50 and ChiNext indices [1] - The current valuation of the Sci-Tech 50 and Wind All A indices is relatively high, with their PE (TTM) percentile exceeding 85% since 2010 as of November 14, 2025 [1] Sector Performance - In terms of market style, large-cap value and small-cap value indices performed well, while large-cap growth and small-cap growth indices saw declines [1] - Among the Shenwan first-level industries, sectors such as comprehensive, textile and apparel, and retail saw gains, while communication, electronics, and computing sectors experienced losses [1] Policy and Economic Developments - The State Council issued measures to promote private investment, outlining 13 specific initiatives to support its development [2] - The central bank's report indicated a solid foundation for achieving annual economic targets, with industrial production and high-tech manufacturing showing positive growth [2] - Fixed asset investment saw a year-on-year decline, while manufacturing investment continued to grow [2] International Relations and Events - Recent developments in US-China relations showed signs of easing, with the US suspending certain investigations and export controls related to China [2] - The US government ended a shutdown following the signing of a temporary funding bill by President Trump [2] - A trade agreement aimed at reducing tariffs between the US and India is expected to be finalized soon [2] Market Outlook - The recent decline in the A-share market is attributed to overseas events, including SoftBank's liquidation of Nvidia shares, which raised concerns about AI market bubbles [3] - The market is expected to remain in a wide fluctuation phase in the short term, despite being in a broader bull market [3] - The current market may lack strong catalysts, and investors may adopt a more cautious approach as the year-end approaches, leading to a focus on consolidation [3]