市场分析：观望情绪提升 A股震荡整固

Market Overview - The A-share market experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 2995 points, ultimately closing at 2957.57 points, down 0.83% [4][17][27] - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices are 12.82 times and 27.73 times, respectively, both below the median levels of the past three years, indicating a low valuation environment suitable for medium to long-term investments [4][27] - Total trading volume on the two exchanges was 586.1 billion yuan, below the median trading volume of the past three years [4][27] Sector Performance - The gold, home appliance, military, and jewelry sectors performed well, while software development, semiconductors, photovoltaic equipment, and securities sectors showed weaker performance [4][17][27] - The official manufacturing Purchasing Managers' Index (PMI) for June was 49.5%, unchanged from the previous month and in line with market expectations, indicating a stable economic recovery phase [4][27] Future Outlook and Investment Recommendations - The market is expected to maintain a fluctuating pattern, with close attention needed on policy, funding, and external factors [4][27] - Short-term investment opportunities are recommended in the banking, home appliance, non-ferrous metals, and military sectors [4][27]