A股市场投资策略周报：市场短期出现整固，中期存在向上机会-20250731

Market Overview - The important indices mostly declined in the recent trading days from July 25 to July 31, with the Shanghai Composite Index down by 0.90% and the ChiNext Index down by 0.73% [4] - The trading volume continued to increase, with a total of 9.11 trillion yuan and an average daily trading volume of 1.82 trillion yuan, which is an increase of 479.50 billion yuan compared to the previous five trading days [10] Policy and Economic Context - The Federal Reserve maintained the federal funds rate target range at 4.25% to 4.50%, aligning with market expectations. The statements regarding employment and inflation remained consistent with previous meetings, indicating a cautious approach towards inflation risks [26] - The political bureau meeting emphasized the need to consolidate the positive momentum in the capital market, and the China Securities Regulatory Commission (CSRC) identified stabilizing the market as a primary task [27] Investment Strategy - The market is currently undergoing a consolidation phase, but there are mid-term upward opportunities due to policy support aimed at enhancing the attractiveness of the capital market and increasing capital inflows [27] - Investment opportunities are identified in the following sectors: 1. TMT (Technology, Media, and Telecommunications), biopharmaceuticals, and national defense industries, driven by AI and overseas expansion [27] 2. Financial sector opportunities in line with the goal of stabilizing the capital market [27] 3. Reallocation opportunities in power equipment and certain resource sectors due to capacity governance [27] Industry Performance - In the recent trading period, the majority of industries saw declines, with notable gains in the communication, biopharmaceutical, and electronics sectors, while coal, non-ferrous metals, and construction decoration sectors experienced significant declines [21][24]