国元证券每日复盘-20250723

Market Performance - On July 23, 2025, the Shanghai Composite Index fluctuated and lost the 3600-point level, closing at 3582.30, up 0.01%[15] - The Shenzhen Component Index fell by 0.37%, closing at 11059.04, while the ChiNext Index decreased by 0.01%[15] - Total market turnover was 18642.75 billion CNY, a decrease of 284.50 billion CNY from the previous trading day[15] Sector and Style Analysis - Among the 30 CITIC first-level industries, most sectors declined; leading sectors included Non-Bank Financials (up 1.31%), Home Appliances (up 0.51%), and Banks (up 0.38%)[20] - The worst-performing sectors were Building Materials (down 2.56%), Defense and Military (down 1.80%), and Comprehensive Finance (down 1.35%)[20] - In terms of investment style, Financials outperformed, followed by Consumption and Growth, while Large-Cap Value stocks led over Large-Cap Growth stocks[20] Capital Flow - On July 23, 2025, the net outflow of main funds was 646.03 billion CNY, with large orders seeing a net outflow of 346.87 billion CNY and super large orders a net outflow of 299.17 billion CNY[24] - Small orders continued to see a net inflow of 609.73 billion CNY, while medium orders had a slight inflow of 10.19 billion CNY[24] ETF Trading Activity - Major ETFs such as the Huaxia SSE 50 ETF and the Huatai-PB CSI 300 ETF saw varied trading volumes, with the SSE 50 ETF trading at 21.25 billion CNY, an increase of 2.14 billion CNY from the previous day[29] - The CSI 500 ETF had a trading volume of 17.65 billion CNY, up by 3.66 billion CNY, while the CSI 1000 ETF traded at 10.37 billion CNY, an increase of 2.32 billion CNY[29] Global Market Overview - On July 23, 2025, major Asia-Pacific indices closed higher, with the Hang Seng Index up 1.62% at 25538.07 points and the Nikkei 225 up 3.51% at 41171.32 points[33] - In contrast, European indices showed mixed results, with the DAX down 1.09% and the FTSE 100 up 0.12%[33]