英大证券晨会纪要-20250530

Core Views - The recent market rebound in A-shares is attributed to external factors, particularly the U.S. court's halt on Trump's trade policy, which has raised questions about the sustainability of this rebound [2][8][10] - Despite the short-term rebound, the overall adjustment trend in the A-share market has not been clearly concluded, suggesting a cautious optimism among investors [3][9] Market Overview - On the day of the report, all three major indices in the Shanghai and Shenzhen markets opened higher and experienced a collective rise, with significant gains in sectors such as digital economy and autonomous driving [4][5] - The total trading volume reached 11,854 billion, with the Shanghai Composite Index closing at 3,363.45 points, up 0.70%, and the Shenzhen Component Index closing at 10,127.20 points, up 1.24% [5] Sector Analysis - The digital economy sector saw substantial gains, driven by government initiatives and the ongoing development of data-related policies, with expectations for continued growth in this area [6][7] - The innovative pharmaceutical sector also experienced a surge, with a favorable commercial environment and increasing domestic production capabilities, indicating potential for investment in this field [7] Future Market Outlook - The report suggests that while the current market environment shows signs of recovery, the underlying economic fundamentals remain weak, and the sustainability of the rebound is uncertain [8][9] - Long-term strategies should focus on high-quality stocks with stable performance and reasonable valuations, particularly in technology and consumer sectors, as well as potential mergers and acquisitions [9]