市场分析：转融券业务暂停 A股震荡上行

Market Overview - The A-share market experienced a slight upward trend, supported by positive news such as the suspension of the securities lending business, with the Shanghai Composite Index facing resistance around 2966 points during the day [26][39]. - The average price-to-earnings (P/E) ratios for the Shanghai Composite Index and the ChiNext Index are currently at 12.59 times and 27.09 times, respectively, both below the median levels of the past three years, indicating that the market valuation remains low and suitable for medium to long-term investments [29][39]. - Total trading volume in the two markets reached 790.1 billion yuan, which is below the median trading volume of the past three years [29]. Sector Performance - The automotive, liquor, non-ferrous metals, and medical services sectors showed strong performance, while the banking, electricity, insurance, and shipping sectors lagged behind [26][29]. - The report highlights that over 90% of stocks in the two markets rose, with significant inflows of capital into sectors such as liquor, non-ferrous metals, optical electronics, photovoltaic equipment, and precious metals [6]. Investment Recommendations - Investors are advised to focus on short-term investment opportunities in the automotive, new energy, medical services, and non-ferrous metals sectors [29]. - The report suggests that the market is expected to maintain a fluctuating pattern in the future, with close attention needed on policy, capital flow, and external factors [29].