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浙商证券浙商早知道-20250527
ZHESHANG SECURITIES·2025-05-26 23:45

Market Overview - On May 26, the Shanghai Composite Index decreased by 0.05%, the CSI 300 fell by 0.57%, the STAR 50 rose by 0.17%, the CSI 1000 increased by 0.65%, the ChiNext Index dropped by 0.8%, and the Hang Seng Index declined by 1.35% [4][3] - The best-performing sectors on May 26 were Media (+2.14%), Computer (+1.39%), Environmental Protection (+1.22%), Communication (+1.1%), and Light Industry Manufacturing (+1.04%). The worst-performing sectors were Automotive (-1.78%), Pharmaceutical Biology (-1.08%), Comprehensive (-0.86%), Banking (-0.75%), and Home Appliances (-0.71%) [4][3] - The total trading volume for the entire A-share market on May 26 was 1,033.9 billion yuan, with a net outflow of 1.507 billion Hong Kong dollars from southbound funds [4][3] Key Insights - From the production side, high-frequency indicators for the service and industrial sectors remained generally stable compared to the previous week. On the demand side, there was a divergence in variables, with consumption strengthening, fixed asset investment showing mixed strength, and exports showing signs of recovery [5] - Price-wise, marginal pressure on prices was observed this week, with a systemic rebound dependent on a demand-side recovery. Following the China-US trade talks, the fundamental pressure has eased [5]