持续加仓

Core Viewpoint - The A-share market is experiencing a trend of moderate upward movement, supported by stable large-cap stocks and active small-cap growth stocks, indicating a shift from localized recovery to broader market improvement driven by policy, economic conditions, and capital flow [4][5]. Market Performance - The Shanghai Composite Index is primarily supported by stable large-cap stocks and the rotation of thematic stocks, while the Shenzhen Component Index shows the largest increase driven by active thematic stocks and the rise of small-cap growth stocks [4]. - The ChiNext Index has achieved a mild increase propelled by the growth of technology and computing-related stocks [4]. Market Sentiment - A total of 4,125 stocks have risen, indicating a strong overall market rally and improved investor sentiment, transitioning from "localized recovery" to "broad expansion" [5]. - The market is characterized by a strong upward trend, with a notable shift in focus towards high-growth sectors such as commercial aerospace, computing hardware, and PCB [5]. Capital Flow - The total trading volume in both markets has slightly decreased by 1.03%, reflecting a shift in capital from high-priced thematic stocks (like new energy and consumer electronics) to undervalued blue-chip stocks (such as banks and public utilities) and technology leaders (like AI computing and semiconductors) [6]. - There is a significant structural differentiation in capital flow, with retail investors actively pursuing small-cap stocks while institutional investors focus on high-growth sectors [7]. Investor Behavior - Retail investors are engaging in short-term speculation and chasing hot stocks, particularly increasing their positions in commercial aerospace, semiconductors, and computing hardware, complementing the strategies of institutional investors [7]. - The current average position of investors is reported at 68.27%, with 31.57% increasing their positions, 17.00% reducing their positions, and 51.43% remaining unchanged [13].