CCSC(SH:601375) Zhongyuan Securities·2025-09-25 09:53Market Overview - On September 25, the A-share market experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 3866 points[2] - The total trading volume for both markets reached 23,920 billion yuan, above the median of the past three years[3] - The average P/E ratios for the Shanghai Composite and ChiNext indices are 15.72 times and 50.19 times, respectively, indicating a suitable environment for medium to long-term investments[3] Sector Performance - Key sectors such as power equipment, gaming, computer equipment, and non-ferrous metals showed strong performance, while precious metals, jewelry, shipping ports, and gas sectors lagged[3] - Over 70% of stocks in the two markets declined, with gaming, power equipment, and energy metals leading the gains[7] Investment Strategy - The market is expected to maintain a steady upward trend amidst fluctuations, with a focus on semiconductor, power equipment, computer equipment, and non-ferrous metals sectors for short-term investment opportunities[3] - External factors such as the Federal Reserve's interest rate cuts are likely to benefit A-share performance, with expectations of a stronger yuan and improved market risk appetite[3] Economic Support - The government is committed to consolidating economic recovery, with multiple favorable policies in place to support consumption and stabilize the real estate market[3] - Continuous net inflows from foreign investments in domestic stocks and bonds reflect ongoing confidence in Chinese assets[3]