A股成交额再创新高 商品期市涨跌互现 市场人士：留意短期调整风险

Core Viewpoint - The A-share and commodity futures markets have experienced a strong start in 2026, with A-share trading volume reaching a historical high of 3.65 trillion yuan, but the major indices have collectively adjusted, indicating potential risks in the market [1] Market Performance - A-share market trading volume reached 3.65 trillion yuan, setting a new historical record [1] - The Shanghai Composite Index ended its previous "17 consecutive days of gains," marking the first decline of 2026 [1] - The domestic commodity futures market showed mixed performance, with some previously high-performing assets undergoing corrections [1] Risks Identified - Three main risks are highlighted: 1. High-level asset corrections due to price increases diverging from fundamentals and technical pressures [1] 2. Leverage risks from increasing margin trading balances and the nature of futures "leverage trading" leading to significant fluctuations in investor profits and losses [1] 3. Market liquidity risks, where high-priced assets may face "stampede-like" sell-offs if market sentiment shifts [1] Investor Recommendations - Investors are advised to be cautious of overheated market sentiment and irrational speculation, particularly after significant price increases [1][3] - Specific recommendations include: 1. Avoiding blind chasing of high prices, especially for assets with substantial short-term gains lacking fundamental support [3] 2. Diversifying asset allocation across stocks, commodities, and bonds to mitigate risks [3] 3. Utilizing flexible trading tools, such as options for risk management [3] Long-term Investment Strategy - The investment logic should shift towards diversified asset allocation, moving from single deposits to a combination of fixed income, equities, commodities, and alternatives to reduce risks [3][4] - In the A-share market, it is suggested to avoid chasing high-flying sectors like AI and precious metals, focusing instead on undervalued, high-dividend sectors with a "dollar-cost averaging" strategy to minimize timing risks [3] - In the commodity futures market, strict leverage control and stop-loss settings are essential [3]