英大证券：金点策略晨报—每日报告-20241108

Market Overview - On November 6, 2024, the A-share market experienced increased volatility due to the U.S. presidential election, yet maintained relative strength with total trading volume exceeding 2 trillion yuan [5][6] - The Shanghai Composite Index briefly recovered above 3400 points but closed lower, indicating mixed market sentiment [5][6] - The recent improvement in the Caixin China Manufacturing PMI to 50.3, up 1.0 percentage points from the previous month, signals a return to expansion, supporting the capital market [1][3] Industry Insights - The gaming sector saw significant gains, driven by advancements in AI technology and the popularity of interactive content such as short dramas and games, indicating a positive outlook for the industry in Q4 2024 [2][3] - Aerospace and military-related stocks also surged, with the announcement of the J-35A fighter jet, highlighting ongoing government support for defense modernization and increased military spending [2][3] - The defense budget in China has shown steady growth from 2020 to 2024, with increases of 6.6%, 6.8%, 7.1%, 7.2%, and 7.2%, indicating a robust outlook for the military industry [3] Investment Strategy - Investors are advised not to overly worry about the short-term impacts of the U.S. election on the domestic market, as the long-term trend remains positive due to anticipated policy support and economic recovery [4][6] - Strategic investors may consider maintaining positions or increasing holdings during market corrections, while those who missed previous opportunities should prepare to selectively enter quality stocks [4][6]