美联储开启降息将如何影响A股？

Group 1 - The report discusses the potential impact of the Federal Reserve's preventive interest rate cuts on the A-share market, highlighting a shift in policy stance following recent economic data indicating weaker job growth and rising unemployment rates [1][3][13] - Two main pathways through which the Fed's rate cuts may affect the A-share market are identified: monetary policy adjustments leading to lower domestic interest rates and changes in capital flows due to shifts in the US bond market [2][15] - The report categorizes the upcoming rate cut as "preventive," aimed at mitigating recession risks, and draws on historical instances of similar cuts to analyze potential sector performance, particularly in pharmaceuticals and technology [3][19] Group 2 - The report notes that the A-share market has experienced a shift from a rising trend to a period of consolidation, with significant fluctuations in technology stocks and a notable rise in the electric equipment sector driven by advancements in solid-state batteries and energy storage [6][33][42] - It highlights that the performance of various sectors post-Fed rate cuts tends to show continuity rather than a complete shift, with a focus on the correlation between primary and sub-sectors [4][27] - The report indicates that the healthcare and technology sectors are expected to benefit from the Fed's rate cuts, particularly those companies with longer-duration cash flows, as lower discount rates enhance their valuations [3][19][27]