A股探底回升，后市怎么看？

Market Overview - A-shares experienced a rebound this week, with the Shanghai Composite Index and Shanghai 50 showing slight weekly gains, while the Shenzhen Component, Sci-Tech 50, and North Exchange 50 recorded minor declines. Weekly trading volume decreased to 8.8 trillion yuan [1] - Margin trading saw a small net sell-off of over 1.1 billion yuan, with the basic chemical sector facing a net sell-off of over 1.9 billion yuan, and non-ferrous metals and food & beverage sectors also experiencing net sell-offs exceeding 1 billion yuan [1] Sector Performance - The electronics sector received a net inflow of over 2.8 billion yuan in financing, while the defense and military industry saw a net buy of over 1.8 billion yuan. Non-bank financials also gained over 1.2 billion yuan in net inflow, with other sectors like retail, machinery, construction materials, and public utilities receiving over 1 billion yuan each [1] - The retail sector has seen continuous net inflows from major funds for five consecutive days, totaling over 22.5 billion yuan for the week. Non-ferrous metals also attracted over 20.1 billion yuan in net inflows, while seven sectors including defense, automotive, machinery, and communications received over 10 billion yuan each [1] Future Outlook - According to Debon Securities, despite a decline in trading volume, the profit-making effect remains strong, with small and mid-cap stocks performing better. Continued policy support is evident, particularly in sectors like semiconductor equipment and commercial aerospace, which are expected to attract more market attention towards consumer sectors [1] - Guotai Junan predicts that after a prolonged period of sideways movement, China's "transformation bull market" will regain momentum, with institutional fund inflows expected to improve market liquidity and active trading. The upcoming spring market is seen as a crucial window for investment [2] Consumer Trends - The retail sector, particularly large consumer stocks, has shown significant strength recently, with the general retail index rising nearly 12% for the week, reaching a new high for the year. Notable stocks include Baida Group and Li Qun Co., which have seen multiple trading halts due to price increases [2] - The Ministry of Commerce and the Ministry of Finance have initiated pilot programs for new consumption models in 50 cities, aiming to boost consumer spending during the upcoming holiday season [6] - The food and beverage sector is also benefiting from the approaching holiday sales peak, with stocks in the snack food category showing strong performance, including companies like Yuan Zuo and Gui Fa Xiang, which have seen consecutive gains [6][7] Consumer Behavior Insights - According to iiMedia Consulting, leisure snacks account for 49.23% of consumer purchases for holiday goods, making them the second-largest category. The average per capita consumption of leisure food in China is 954.4 yuan, significantly lower than in the US and Japan, indicating substantial growth potential [7]