金银闪崩、外围震动，A股真的“扛得住”吗？

Core Viewpoint - The A-share market demonstrated resilience amidst global market turmoil, particularly following a significant drop in international gold and silver prices, indicating strong underlying support mechanisms. Group 1: Impact of Global Market Events - International gold and silver experienced a dramatic drop, with gold falling from a high of $5,626 to below $5,100, marking a maximum decline of over 8%, while silver dropped from $121.6 to $107.7, with a maximum decline exceeding 12% [4] - Despite the external shocks, A-shares did not follow the downward trend, with the Shanghai Composite Index down only 0.96%, the Shenzhen Component down 0.66%, and the ChiNext Index rising by 1.27% [3] Group 2: A-share Market Resilience - A-shares were supported by four key factors: 1. Policy and liquidity support, including the release of consumption-boosting policies and a net injection of 700 billion yuan by the central bank, which helped stabilize market expectations [7] 2. Optimized funding structure, with northbound capital showing a net inflow of 32.68 billion yuan on the day and a total of 234.68 billion yuan for the week, indicating confidence from long-term investors [8] 3. Strong fundamentals and valuation advantages, with an overall earnings growth forecast of 42.3% for A-shares, particularly in sectors like non-ferrous metals and petrochemicals, which have growth rates exceeding 60% [9] 4. Strong risk isolation capabilities, as the decline in the precious metals sector was seen as a localized adjustment rather than a systemic risk for A-shares [10] Group 3: Market Outlook and Strategy - The A-share market is expected to experience minor fluctuations due to external influences and pre-holiday liquidity concerns, but these do not indicate a "crash" [14] - Investors are advised to focus on stable sectors such as consumer goods and state-owned enterprises, while avoiding high-risk areas like precious metals and high-leverage sectors [12]