万联晨会-2025-04-03

Core Insights - The A-share market showed slight gains with the Shanghai Composite Index rising by 0.05% to 3,350.13 points, the Shenzhen Component increasing by 0.09% to 10,513.12 points, and the ChiNext Index up by 0.13% to 2,104.63 points. The total trading volume in the A-share market reached 9,743.01 billion RMB, with net purchases from southbound funds amounting to 11.717 billion HKD. Over 2,600 stocks in the A-share market experienced gains [2][6] - In terms of industry performance, the textile and apparel, beauty care, and telecommunications sectors led the gains, while the defense and military, as well as non-ferrous metals sectors, saw the largest declines. Concept indices such as PVDF and noise control showed significant increases, whereas combustible ice and military equipment restructuring indices faced notable declines [2][6] - Internationally, the US stock indices collectively rose, with the Dow Jones increasing by 0.56% to 42,225.32 points, the S&P 500 up by 0.67% to 5,670.97 points, and the Nasdaq rising by 0.87% to 17,601.05 points. Conversely, the Hang Seng Index fell by 0.02%, while the Hang Seng Tech Index rose by 0.35% [2][4][6] Important News - The State Council's inter-ministerial joint meeting on reducing corporate burdens emphasized addressing overdue payments to enterprises, implementing actions to accelerate the clearance of such debts, and establishing a national complaint platform for overdue payments to small and medium-sized enterprises. The meeting also highlighted the need to reduce corporate costs through policies like large-scale equipment upgrades and trade-in programs for consumer goods [7] - The Central Committee and the State Council issued opinions on improving price governance mechanisms, advocating for a market-oriented approach to price formation, promoting efficient flow of high-quality production factors, and ensuring effective service to the national unified market construction [3][7]