Core Insights - The report indicates that the market is experiencing fluctuations, but trading enthusiasm remains high, with notable individual stock speculation [2][11][16] - The overall market sentiment is undergoing a repair process, which is expected to continue, although a rational and healthy mindset is necessary to avoid accumulating risks [16][11] - The report emphasizes the importance of transitioning from trading to investment, focusing on high-quality assets with long-term value, particularly in technology growth and high-dividend sectors [16][11] Market Performance - The Shanghai Composite Index closed at 3,299.70 points with a weekly increase of 1.17%, while the Shenzhen Component Index rose by 2.53% to 10,619.85 points [7][11] - The trading volume for the week was significant, with the Shanghai market recording a total of 35,772.14 billion yuan and the Shenzhen market 57,388.36 billion yuan [7][11] - The market is still in a phase of index repair, with previous volume and price surges requiring time to normalize [7][11] Sector Analysis - The report highlights that sectors such as electric power equipment and comprehensive industries performed well, while banking and oil & gas sectors lagged [11][16] - The report notes that small-cap stocks, particularly those listed on the Beijing Stock Exchange, and restructuring stocks showed strong performance [11][16] - The report identifies that the new energy themes are active, while financial and computer sectors are among the weakest performers [11][16] Valuation Insights - The overall A-share market has a price-to-earnings (P/E) ratio of 18.36, with the ChiNext at 54.39, indicating significant recovery potential [15][16] - The report provides a detailed breakdown of sector valuations, showing that while there has been a recovery, there is still room for further improvement [15][16] - The report suggests that core assets are essential for stable allocation, while growth sectors present good trading opportunities, albeit with associated risks [11][16]
市场周报：修复仍将延续
Shanghai Aijian Securities·2024-10-28 06:34