重要信号！A股又到关键节点

Core Viewpoint - The A-share market is experiencing a significant downturn, with all three major indices declining for four consecutive days, indicating potential market volatility and shifts in investor sentiment [3][5]. Group 1: Market Performance - On Tuesday, the A-share market saw a collective drop, with the ChiNext Index leading the decline at 0.68%. The total trading volume in the Shanghai and Shenzhen markets was 998.926 billion yuan, a decrease of 11.034 billion yuan from the previous trading day [3]. - The market has experienced four instances of trading volume dropping below 1 trillion yuan since early April, with historical patterns suggesting that such "low volume" periods are often followed by increased trading activity [3]. Group 2: New Consumption Trends - New consumption stocks have emerged as market highlights, with companies like Pop Mart and Mixue Group achieving significant stock price increases, reflecting a growing trend in consumer preferences [5]. - The shift in consumer channels and habits is noted, with discount stores and membership supermarkets becoming mainstream, emphasizing the importance of emotional consumption and health-oriented products [5][6]. Group 3: Pharmaceutical Sector - The pharmaceutical sector, particularly innovative drug companies, has shown strong performance, with several stocks experiencing significant gains. The upcoming ASCO conference is expected to showcase numerous clinical studies from Chinese pharmaceutical companies, indicating a robust pipeline of new drug developments [7]. - The domestic innovative drug sector is highlighted for its investment potential, driven by ongoing research breakthroughs and increasing global competitiveness [7]. Group 4: Precious Metals Market - The precious metals sector faced a collective decline, with major companies like Western Gold and Chifeng Jilong Gold experiencing drops exceeding 4%. This downturn is closely linked to a notable retreat in international gold prices [9]. - Positive developments in geopolitical situations, such as the extension of tariff deadlines and potential resolutions in the Russia-Ukraine conflict, have contributed to a decrease in safe-haven demand for gold [9].