英大证券金点策略晨报—每日报告

Market Overview - The Shanghai and Shenzhen indices showed mixed performance with a downward trend and low trading volume [2] - The Shanghai Composite Index closed at 3091.68 points, down 19.34 points or 0.62%, with a total turnover of 3184.75 billion [4] - The Shenzhen Component Index closed at 9384.72 points, down 30.26 points or 0.32%, with a total turnover of 4048.13 billion [4] - The ChiNext Index closed at 1813.15 points, up 2.08 points or 0.11%, with a total turnover of 1797.70 billion [4] - The STAR 50 Index closed up 8.37 points or 1.14%, with a total turnover of 448.08 billion [4] Sector Performance - Semiconductor, space-based internet, 6G, and Beidou navigation sectors led the gains [4] - Basic metals, chicken, civil explosives, and virtual power plant sectors led the losses [4] - The semiconductor sector continued to rise, driven by the establishment of the National Integrated Circuit Industry Investment Fund III with a registered capital of 3440 billion RMB [4] - The aerospace sector surged following the successful launch of four satellites for the "Tianqi Constellation" [4] - The automotive sector rose due to policies promoting the elimination of old vehicles and the development of new energy vehicles [5] Industry Insights - The National Integrated Circuit Industry Investment Fund supports the semiconductor industry's upgrade and transformation, particularly in advanced process technologies and high-end equipment manufacturing [4] - The "Tianqi Constellation" aims to achieve global coverage and meet data collection needs across various industries, including forestry, agriculture, emergency response, and smart cities [4] - The automotive industry is expected to benefit from the development of new energy vehicles, with a focus on intelligent driving and domestic substitution [5] Market Sentiment - Market sentiment was low with more declining stocks than advancing ones, and a poor赚钱效应 [4] - The market lacked热点, with only a few sectors like semiconductors and satellites showing strength [5] - The adjustment of the three major indices was consistent, with pressure on the Shanghai Composite Index and adjustments in the Shenzhen Component and ChiNext indices [5] Future Outlook - Short-term adjustments are due to policy落地 and lack of new提振动力, but the中期震荡上行的格局 remains unchanged [13] - The stabilization of the real estate market is crucial for macroeconomic stability, with expectations of narrowing declines in real estate sales [13] - Investors are advised to focus on core assets and绩优蓝筹及成长股, while avoiding ST stocks and垃圾股 [13]