6月市场回顾：全A震荡下行，成长风格占优

Market Overview - The A-share market experienced a downward trend, with the Shanghai Composite Index declining by 3.9% by June 28, 2024[3] - The major indices showed a general decline, with the ChiNext Index falling by 6.7% and the CSI 1000 down by 8.6%[18] - The TMT sector outperformed, with the electronics sector gaining 3.2%, communications up 2.9%, and utilities rising 0.7%[20] Economic Indicators - Domestic demand remains weak, with insufficient internal consumption being the primary concern[3] - The manufacturing PMI fell below the growth line, indicating challenges in procurement and seasonal factors[6] - In May, the industrial added value grew by 5.6% year-on-year, while retail sales increased by 3.7%[41] Policy and Future Outlook - The upcoming Third Plenary Session is expected to enhance market expectations and improve risk appetite[3] - The government is focusing on supporting high-quality development in venture capital and enhancing ESG governance among state-owned enterprises[15] - Key upcoming events include the release of China's June PMI and CPI on July 1, 2024, and the U.S. non-farm payroll data on July 5, 2024[31]