A股剧震 后市怎么走？机构争议风格切换

Core Viewpoints - The market is experiencing significant volatility, with institutions generally optimistic about the future, but there is a notable divergence in operational strategies. Some believe increasing allocations to undervalued sectors is worthwhile, while others anticipate a short-term shift between high and low performers, with strong performers likely to maintain their advantage in the medium term [1][7]. Group 1: Market Dynamics - The core driving force behind the current upward trend in the market remains unchanged, with unprecedented emphasis from decision-makers on the capital market, continuous inflow of micro liquidity, and a large potential space for growth. Recent market fluctuations are seen as trading disturbances rather than a fundamental shift in the upward trend [4][5]. - The market has accumulated significant gains since the end of June, and the recent acceleration in market growth requires short-term technical adjustments for digestion and consolidation. Current market valuations and funds have returned to a relatively less crowded level [6][8]. Group 2: Sector Opportunities - Three categories of opportunities are highlighted amid industry differentiation: 1. Active expansion with sustainability, including sectors like engineering machinery, beverages, power grid equipment, wind power equipment, communication equipment, and optical electronics [9]. 2. Passive reduction in production, covering batteries, packaging and printing, medical services, minor metals, glass fiber, and environmental protection [9]. 3. Active reduction in production in the later stages, including photovoltaic equipment, steel, and chemicals [9]. Group 3: Policy and Economic Context - The monetary and fiscal expansion in Europe and the U.S. is expected to become clearer in September, while China's "anti-involution" and consumption pathways are gradually clarifying. This context is expected to benefit physical assets such as non-ferrous metals and capital goods, as well as domestic demand-related sectors like food and beverage, tourism, and scenic spots [3].