万联证券：万联晨会-20240902

Core Viewpoints - The A-share market experienced a significant rebound last Friday, with the Shanghai Composite Index rising by 0.68% to close at 2842.21 points, the Shenzhen Component Index increasing by 2.38%, and the ChiNext Index up by 2.53%. The total trading volume in the Shanghai and Shenzhen markets reached 0.88 trillion yuan [1][6] - In the Shenwan industry sector, real estate, electronics, media, and non-bank financials led the gains, while banks and public utilities saw declines. Concept stocks related to Huawei HiSilicon, internet insurance, rental and sale rights, and cloud gaming performed well, while stocks related to artemisinin and fentanyl fell [1][6] - The Hong Kong market also saw positive movement, with the Hang Seng Index rising by 1.14% to 17989.07 points, marking a 3.72% increase in August. The Hang Seng Tech Index increased by 2.87%, with a 1.24% rise in August [1][6] - Internationally, all three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up by 0.55% to 41563.08 points, reaching a historical high. The S&P 500 Index rose by 1.01% to 5648.4 points, and the Nasdaq increased by 1.13% to 17713.62 points [1][6] Important News - The National Development and Reform Commission (NDRC) has proposed new requirements for building a more complete market access system, including the orderly advancement of a revised list and comprehensive market access efficiency assessments starting next year [2] - The Ministry of Finance has emphasized increasing the implementation of fiscal policies, focusing on six key areas, including optimizing the use of special government bonds and ensuring key expenditures are met, particularly in the real estate sector [2][6] - The report indicates that the overall domestic economic operation remains stable, with industrial production continuing to grow rapidly and trade structure improving, although effective domestic demand is still insufficient [8]