增量资金有望助推市场维持上行

Core Viewpoint - Incremental capital is expected to support the market's upward trend, with a focus on the influence of institutional funds on market movements [3][5]. Market Performance - The market continued its upward trend last week, with the CSI 300 index rising by 1.09%, the Shanghai Composite Index by 0.69%, and the CSI 500 index by 1.20%. A broad-based rally was observed, particularly in the communication sector, which recorded the highest weekly gain among industries [3][4]. Economic Indicators - Domestic economic indicators for June showed a slight rebound, including imports and exports, industrial production, retail sales, and money supply. Notably, exports to the U.S. saw a significant increase, while exports to Europe, ASEAN, and other regions weakened, indicating a shift back to direct exports amid improved U.S.-China relations. However, imports remained weak, suggesting a temporary "last sprint" for exports [4][5]. - The overall economic recovery is viewed as a single-month rebound rather than a definitive reversal, with ongoing competition between the U.S. and China expected to persist [4][5]. Technical Analysis - Institutional funds have significantly increased, leading to a consolidation of the market around the critical 3500-point level. This influx of capital is reinforcing the market's upward momentum driven by liquidity [5][6]. Investment Strategy - For the main board, the recommendation is to maintain a high position due to the influence of institutional funds, despite the economic indicators showing only a temporary recovery [6]. - For small and mid-cap sectors, which benefit from the influx of funds but lack strong fundamental support, a high position is also recommended, while maintaining a balanced investment style [6].