Core Viewpoint - The recent market performance has been stable, with the Shanghai Composite Index reaching a new high for the year, driven by internal market factors rather than significant external news or policy changes [1] Group 1: Market Performance - The market has shown resilience, with multiple attempts to test lower levels without success, indicating strong support from policy measures encouraging a stable capital market [1] - The recent three-day rally in the index is attributed to internal factors and a collective response from market participants, leading to increased trading volume and price appreciation [1] Group 2: Sector Performance - Key sectors leading the market include diversified finance, shipbuilding, and securities, with diversified finance and securities showing similar characteristics and often acting as leading indicators during rebounds [1] - The performance of brokerage stocks is crucial; if they gain market traction, it significantly increases the chances of a broader market rebound [1] Group 3: Future Outlook - Short-term opportunities for further upward movement exist, with technical resistance noted near the high points from November and December of the previous year [2] - Attention should be paid to market volume and the potential for new capital inflows, particularly from major funds, as the current market is primarily driven by existing capital [2] - Investment strategies can be relatively aggressive, aligning with market trends and momentum [2]
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申万宏源证券上海北京西路营业部·2025-06-26 02:35