A股投资策略周报：核心指数出现类“平准”走势，后市该如何应对-20250420

Core Views - The current market is under the influence of "stabilizing" forces, with controllable downside risks and a high probability of upward breakout due to improving economic data and potential policy support [1][5][20] - The A-share market is expected to see stable demand and rising corporate profits, with a focus on sectors experiencing local economic recovery, high free cash flow, and high-growth areas with low penetration rates [1][5][20] Economic Data Highlights - In Q1 2025, China's GDP reached 31.88 trillion yuan, growing by 5.4% year-on-year, with exports contributing significantly to economic growth [3][21] - The total retail sales of consumer goods in March showed an increase, with a year-on-year growth rate of 4.6%, indicating a recovery in consumption [3][22] - The broad fiscal expenditure growth rate reached 5.6% in Q1, which is expected to support economic stability and market recovery [21][22] Industry Insights - Key sectors showing improvement include consumer services (home appliances, furniture, communication equipment), high-tech manufacturing (new energy vehicles, power generation equipment, integrated circuits), and real estate sales [6][30][36] - The electronics sector continues to show signs of recovery, with smartphone production turning positive in March and retail sales of communication equipment increasing significantly [3][36][37] - The manufacturing sector, particularly in high-tech areas, is maintaining a high level of activity, with significant year-on-year increases in production for new energy vehicles and power generation equipment [30][36][39]