市场全天冲高回落，三大指数涨跌不一

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index closing at 3424.23, down by 0.70%, while the Shenzhen Component Index rose by 0.34% to 10378.55 [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.54 trillion, a decrease of 42.1 billion from the previous trading day, marking the 22nd consecutive day of trading volume exceeding 1 trillion [4] Sector Performance - The top-performing sectors included non-ferrous metals, which increased by 2.17%, and telecommunications, which rose by 1.79% [1] - Conversely, the banking sector saw a decline of 2.95%, and public utilities fell by 1.01% [1] - Notable concept indices that performed well included high-speed copper cable connections and zinc, while cross-border payment (CIPS) and combustible ice lagged behind [2] Industrial Profit Trends - From January to May, the total profit of industrial enterprises above designated size reached 27,204.3 billion, reflecting a year-on-year decrease of 1.1% due to insufficient effective demand and declining industrial product prices [3] - Despite the profit decline, industrial enterprises maintained growth in gross profit and revenue, indicating favorable conditions for future profit recovery [3] Future Market Outlook - The report suggests that while short-term expectations may limit significant upward movement in the A-share market, medium-term factors such as ongoing policy support and improved liquidity conditions are expected to drive a gradual increase in stock indices [4] - Potential catalysts for upward movement include unexpected global economic recovery, effective deployment of domestic incremental policies, and continued rapid development of emerging industries [4] - The overall valuation level of A-shares is near historical averages, with relative attractiveness for allocation compared to mature overseas markets [4]