2024年9月至11月A股市场流动性情况分析：长期增量资金入市将稳定市场表现

Monetary Policy and Market Liquidity - The domestic monetary policy remains supportive, with the central bank indicating a commitment to maintain reasonable liquidity and lower financing costs for enterprises and residents[6]. - The M2 growth rate increased to 7.5% in October, up from 6.8% in September, reflecting improved market confidence and policy effectiveness[30]. Fund Supply and Demand Dynamics - The total financing balance showed a recovery, with October's net financing amount reaching CNY 268.4 billion, a significant increase from September's CNY 49.2 billion[36]. - The proportion of stock funds in total fund issuance rose to 10.70% and 11.09% in October and November, respectively, indicating a growing preference for equity investments[56]. Investment Recommendations - Focus on technology growth sectors, particularly in media and low-altitude economy, as they benefit from policy-driven growth opportunities[108]. - Emphasize green development, especially in steel and related industries, as policies push for low-carbon transitions[108]. - Monitor the real estate sector for stabilization, as recent policies aim to support housing market recovery[108]. Risks and Market Outlook - Economic performance may fall short of expectations, potentially leading to market volatility[112]. - The risk of global recession remains, influenced by factors such as trade protectionism and geopolitical tensions[112].