Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights that after a significant market rally before the National Day holiday, the A-share market has experienced considerable fluctuations, with major indices showing mixed performance as of October 31 [1][4] - The survey of institutional investors indicates a prevailing sentiment of a volatile market, with a majority expecting a wide trading range [2][10] - Investors are optimistic about sectors such as consumption, TMT (Technology, Media, and Telecommunications), cyclical industries, and manufacturing [3][8] Summary by Sections Previous Institutional Investor Survey Review - Prior to the National Day holiday, a survey of 422 institutional investors revealed that 57% expected a short-term rally, while 27% anticipated a gradual rise and 14% expected wide fluctuations [1][4] - The highest point for the Shanghai Composite Index post-holiday reached 3674.40 points, with 23% of investors targeting 3500 and 3600 points [5][8] - 72% of investors believed the market would fluctuate within a ±200 point range, and 45% and 35% identified 3000 and 3100 points as strong support levels, respectively [6][7] Current Survey Results - A new survey received 327 valid responses, showing that 43% of investors are holding over 80% of their positions, with 65% above 60% [10][12] - Only 5% expect a rally, while 47% and 39% foresee a gradual rise and wide fluctuations, respectively [12][13] - The majority of investors (61%) still believe in a wide trading range, although this is a decrease from 72% in the previous survey [14][15] - 89% of investors see strong support above 3000 points, with only 1% expecting levels below 2800 [16] Sectors of Interest - Investors are particularly optimistic about TMT (59%), cyclical industries (30%), and manufacturing (32%), among others [3][17]
公用事业：机构投资者观点调研第二期-宽幅震荡后投资者如何看待后市行情
Hua Yuan Zheng Quan·2024-11-07 07:17