Group 1 - The macroeconomic data released in October indicates that the economic development pattern for the fourth quarter continues to show a trend of high performance earlier in the year followed by a decline [1] - The market's focus is on the domestic economic situation, with limited impact from macro totals due to expectations of policy effects [1] - Recent adjustments in overseas markets, particularly regarding AI development, have led to collective adjustments among US tech companies [1] Group 2 - On Monday, the stock markets experienced fluctuations with a decrease in trading volume, with the Shanghai Composite Index closing below the 20-day moving average [1] - The Shenzhen Component Index performed slightly better than the Shanghai Composite but remained below short-term moving averages throughout the day [1] - Market hotspots were primarily in growth sectors such as military and computer industries, while large-cap blue-chip stocks saw significant declines [1] Group 3 - The Shanghai Composite Index has been oscillating around the 4000-point mark, showing volatility after reaching a new high last week and subsequently declining [1] - The Shenzhen Component Index is in a consolidation phase, also trading below all short-term moving averages [1] - There is a recommendation to pay attention to coal ETFs and rare metal ETFs during this period of market adjustment [1]
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申万宏源证券上海北京西路营业部·2025-11-18 02:40