0918A股日评：牛市有信心，也需要耐心-20250919

Core Insights - The A-share market experienced a decline today, with all three major indices falling, while the Sci-Tech 50 index rose against the trend, indicating a mixed market sentiment [2][4] - The electronic, telecommunications, and social services sectors led the gains, while the metal materials, mining, comprehensive finance, insurance, and agricultural products sectors saw corrections [2][4] Market Performance - The Shanghai Composite Index fell by 1.15%, the Shenzhen Component Index by 1.06%, the ChiNext Index by 1.64%, the SSE 50 by 1.35%, and the CSI 300 by 1.16%. In contrast, the Sci-Tech 50 rose by 0.72%, and the CSI 1000 dropped by 1.04%. The total market turnover was approximately 3.17 trillion yuan [2][7][12] - Among the Longjiang primary industries, electronics (+0.93%), telecommunications (+0.31%), and social services (+0.29%) were the top performers, while metal materials and mining (-3.16%), comprehensive finance (-3.00%), and insurance (-2.22%) lagged [7][12] Market Drivers - The decline in the A-share market was accompanied by increased trading volume, returning to high levels. AI computing hardware stocks led the gains, while sectors such as trading software, rare metals, and industrial metals experienced corrections [7][12] - The market outlook remains optimistic, with expectations of a "slow bull" trend in the A-share market, driven by ample liquidity and the potential for long-term capital inflows [12][13] Investment Strategy - Short-term focus should be on sectors with recent revenue growth and improving gross margins, including fiberglass, cement, fine chemicals, and other materials. Additionally, technology growth sectors such as AI computing and robotics should be monitored [12][13] - Long-term perspectives favor sectors benefiting from "de-involution" trends, including metals, transportation, chemicals, and lithium batteries, as well as high-end manufacturing technologies like AI and robotics [12][13]