A股三大指数收跌 短期调整或近尾声

Market Overview - A-shares experienced a collective pullback on Thursday, with the Shanghai Composite Index down 0.40% to 3931.05 points, the Shenzhen Component down 0.76% to 12980.82 points, and the ChiNext Index down 1.12% to 3042.34 points [1] - The trading volume in the Shanghai and Shenzhen markets was 170.82 billion yuan, a slight decrease of 17.7 billion yuan compared to Wednesday [1] Market Sentiment - Despite a brief rebound, the A-share market fell back into a weak state, with early gains being erased by afternoon trading [1] - Investor sentiment remains cautious, with many choosing to exit positions despite a seemingly improving market environment [1] Sector Performance - The technology sector, particularly AI-related stocks, faced significant outflows as short-term funds opted to take profits [1] - Nvidia's impressive Q3 results, with a 62% year-on-year revenue increase to $57 billion and a 65% rise in net profit to $31.9 billion, did not prevent funds from exiting the market, indicating a cautious investor mindset [1] Future Outlook - The upcoming U.S. non-farm payroll report is seen as a critical factor that may influence market sentiment and capital flows into A-shares [2] - If the Federal Reserve's rate cut expectations diminish, it could negatively impact A-share markets through both capital and sentiment channels [2] Technical Analysis - The market continues to show signs of adjustment, with the ChiNext Index breaking below key support levels [2] - The Shanghai Composite Index is also facing resistance, indicating a potential for further downward pressure unless it can regain momentum above key moving averages [2] Investment Strategy - Despite short-term adjustments, the medium-term outlook remains positive, with expectations for new highs by year-end [2] - A strategy of patience and selective positioning is recommended, focusing on buying opportunities during dips and sector rotation [2]