英大证券金点策略晨报—每日报告

Market Overview - The report indicates that the recent market adjustments do not alter the medium-term upward trend, suggesting that investors should accumulate core assets during dips while avoiding junk stocks [5][9]. - On Tuesday, the major indices in the A-share market experienced a collective decline, with the Shanghai Composite Index closing at 3109.57 points, down 14.47 points or 0.46% [6][12]. - The report highlights a lack of clear market leadership since May, with core assets showing slightly stronger performance amidst rapid sector rotation due to a shortage of incremental capital [11][12]. Sector Analysis - The power and public utility sectors have shown significant gains, driven by new market rules set to take effect on July 1, 2024, which will enhance market transactions for electricity and related services [6][8]. - The semiconductor sector has continued to rise, supported by the establishment of the National Integrated Circuit Industry Investment Fund, which has a registered capital of 344 billion RMB, aimed at upgrading the semiconductor industry [6][13]. - The non-ferrous metals sector has also performed well, buoyed by rising prices in black and colored metals, driven by global manufacturing recovery and domestic economic policies aimed at stabilizing growth [8]. Future Market Outlook - The report suggests that there is no need for excessive concern regarding significant market downturns, as the short-term adjustments are not expected to impact the medium-term upward trajectory [9][14]. - Investors are advised to focus on accumulating core assets during market dips, with high-quality blue-chip and growth stocks likely to present the main opportunities moving forward [9][14].