英大证券晨会纪要-20250627

Core Views - The A-share market is currently experiencing a strong upward trend, with the Shanghai Composite Index recently reaching a new high for the year, driven by significant gains in the financial sector, particularly banks and military-related stocks [2][4][9] - Short-term targets for the Shanghai Composite Index are set at 3500 points, with potential for further upward movement to 3600 points if trading volume increases [2][4][9] - The financial sector is highlighted as a key focus, with policies aimed at stabilizing and promoting capital market development expected to provide ongoing support [2][3][9] Market Overview - On Thursday, the three major indices opened with fluctuations, eventually reaching new highs during the day, but experienced a slight pullback in the afternoon due to a drop in brokerage stocks [2][4][9] - The total trading volume across both markets was 1.58 trillion yuan, indicating a relatively strong market sentiment despite the short-term pullback [2][4][9] - The banking sector has been a significant contributor to the index's strength, with major banks reaching historical highs, supported by a favorable global economic environment and stable dividend yields [7][9] Sector Analysis - The military sector, particularly shipbuilding and aerospace, has shown strong performance, with recent developments in mergers and acquisitions boosting investor confidence [6][9] - The digital currency sector has also seen significant gains, driven by favorable regulatory developments both domestically and internationally, including new legislation in Hong Kong and the U.S. [8][9] - Investment opportunities are identified in three main areas: companies with expected strong mid-year earnings, technology sectors such as robotics and digital currencies, and sectors experiencing rebounds from previous declines, such as new energy and brokerage firms [3][10]