英大证券晨会纪要-20250910

Market Overview - The A-share market is experiencing internal differentiation, lacking a core leading direction, with a focus on changes in trading volume for future trends [1][2][8] - The market is transitioning from a previously active state to a more cautious phase, with a notable reduction in trading volume to just over 2.1 trillion yuan [1][2][11] Sector Analysis - The semiconductor and optical communication module sectors are entering a correction phase, while the solid-state battery concept sector remains strong due to technological breakthroughs and broad industry prospects [1][9] - Gold-related stocks have shown moderate increases, reflecting a shift towards defensive asset allocation as investors seek safety amid market volatility [1][9] Trading Volume Insights - Changes in trading volume are crucial for gauging market sentiment, with a balanced probability for upward or downward movements in the short term [2][10] - A recovery in trading volume above 2.5 trillion yuan could indicate renewed market momentum, while continued low volume around 2 trillion yuan may lead to prolonged adjustments [2][10] Investment Strategy - For high-quality companies with solid fundamentals, short-term adjustments may present buying opportunities [2][10] - It is advisable to reduce exposure to sectors with excessive prior gains and high valuations, while increasing allocations to undervalued, high-dividend assets [2][10]