每日市场观察-20250908

Market Performance - The market rebounded significantly on September 8, 2025, with a trading volume of CNY 2.35 trillion, a decrease of approximately CNY 230 billion from the previous trading day[1] - The Wande All A Index rose nearly 2.6%, marking the second-largest single-day increase of the year[1] - Excluding the banking sector, all other industries saw gains, with notable increases in power equipment, electronics, communications, and non-ferrous metals[1] Sector Analysis - The new energy sector experienced substantial growth, becoming the largest sector in terms of volume increase despite an overall decrease in market volume[1] - There was a successful transition in industry focus, with significant capital flowing into new energy without hindering the performance of other sectors such as chemicals, non-ferrous metals, machinery, and pharmaceuticals[1] - The communication computing sector showed a notable rebound, but the reduced volume and delayed recovery suggest a cautious approach from investors, warranting further observation[1] Fund Flows - On September 5, 2025, net inflows into the Shanghai Stock Exchange amounted to CNY 41.705 billion, while the Shenzhen Stock Exchange saw net inflows of CNY 56.006 billion[4] - The top three sectors for capital inflows were batteries, components, and photovoltaic equipment, while the largest outflows were from ground military equipment, state-owned large banks, and securities[4] Economic Policies - The People's Bank of China announced a CNY 1 trillion reverse repurchase operation to maintain liquidity in the banking system, with a term of 91 days[8] - New policies aimed at expanding high-quality service consumption are expected to be introduced soon, focusing on enhancing inbound tourism and internet services[6][7] Investment Trends - The issuance of equity funds has seen a resurgence, with over CNY 220 billion raised in September, including 26 new equity funds established within the first four days[13] - The public REITs market is recovering, with the CSI REITs Total Return Index rising by 0.42% on September 4, 2025, indicating a potential for further market stabilization[14]