市场周报：仍是交易为主

Market Overview - The market has experienced a decline, with the Shanghai Composite Index closing at 2,765.81 points, reflecting a weekly drop of -2.69% and a transaction amount of 1,258.39 billion [8] - The Shenzhen Component Index closed at 8,130.77 points, down -2.61% with a transaction amount of 1,664.79 billion [8] - The overall market sentiment remains stable despite fluctuations in domestic and international economic data, with the RMB exchange rate continuing to rise [8] Style Switching - The market is witnessing a style switch, with low-position sectors becoming active while high-position sectors are experiencing declines [12] - Notable gainers include stocks from the Huawei supply chain and new energy sectors, while significant declines are seen in previously high-performing stocks [12] - The automotive and non-bank sectors are performing well, whereas the oil, petrochemical, and construction sectors are underperforming [12] Valuation Levels - The overall PE ratio for A-shares stands at 15.09, with the ChiNext at 39.00, SSE 50 at 9.75, CSI 300 at 11.02, and CSI 1000 at 29.26, indicating a relatively low valuation level and high safety margin [16][17] Trading Focus - The current market environment suggests a focus on trading opportunities, particularly in low-position sectors aligned with new productive forces and state-owned enterprise reforms [18] - The market is expected to remain in a volatile state without significant improvements in capital supply, making it challenging to escape the current oscillating pattern [18]