市场分析：银行电力行业领涨，A股震荡上扬

Market Overview - On July 1, the A-share market opened high and experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 3454 points[3] - The Shanghai Composite Index closed at 3457.75 points, up 0.39%, while the Shenzhen Component Index rose 0.11% to 10,476.29 points[9] - Total trading volume for both markets was 1,496.8 billion yuan, slightly lower than the previous trading day[9] Sector Performance - Strong performers included banking, electricity, chemical pharmaceuticals, and fiberglass industries, while software development, internet services, batteries, and auto parts lagged[4] - Over 50% of stocks in the two markets saw gains, with notable increases in fiberglass, chemical pharmaceuticals, and electricity sectors[9] Valuation Metrics - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices are 14.13 times and 38.67 times, respectively, indicating a mid-level valuation over the past three years[4] - The trading volume is above the median level for the past three years, suggesting a healthy market activity[4] Economic Outlook - China's economy continues to show moderate recovery, driven by consumption and investment[4] - Long-term capital inflows are increasing, with steady growth in ETF sizes and continuous inflow from insurance funds, providing significant support to the market[4] Investment Strategy - A balanced strategy is recommended to optimize portfolio structure amid market fluctuations, focusing on growth stocks with strong mid-year performance and reasonable valuations[4] - Short-term investment opportunities are suggested in banking, electricity, chemical pharmaceuticals, and shipbuilding sectors[4] Risk Factors - Potential risks include unexpected overseas economic downturns, domestic policy changes, and macroeconomic disturbances[5]