A股,突变!20分钟,1万亿元!四大背离显现!
券商中国·2026-01-12 04:21

Core Viewpoint - The A-share market is experiencing a significant increase in trading volume, with a transaction amount exceeding 1 trillion yuan within the first 20 minutes of trading, indicating a hot market but also revealing divergences in various sectors and asset classes [1][2]. Market Status - A-shares opened with a transaction volume surpassing 1 trillion yuan, an increase of over 220 billion yuan compared to the previous trading day [2]. - The commercial aerospace sector is performing strongly, while the lithium battery sector is showing signs of weakness [2]. Divergence Phenomena - There is a notable divergence between the Hong Kong stock market, which is performing well, and the A50 index, which experienced a drop of 1% [3]. - Futures for gold, silver, copper, and lithium carbonate are rising, but related stocks like Zijin Mining have shown volatility, indicating a disconnect between futures and stock performance [3]. - Government bond futures are increasing, with the 30-year contract rising nearly 0.3%, yet this has not translated into a drop in stock prices [3]. - Despite the surge in transaction volume, brokerage stocks are under pressure, with the brokerage ETF experiencing a decline [3]. Future Market Outlook - Concerns are growing regarding the potential for market adjustments following the increase in trading volume, drawing parallels to historical instances in 2007, 2015, and early 2021 [5]. - Analysts suggest that the current environment remains favorable for A-shares, with a moderate inflation level and recovering economic momentum supporting a sustained bull market [5]. - The market is characterized by a lack of significant leverage, with financing balances rising but remaining manageable, indicating that the profit-making effect has not yet reached a widespread state [5]. - The liquidity landscape is evolving, with large deposits maturing and banks entering a low-interest-rate environment, suggesting a shift in liquidity dynamics [6].

A股,突变!20分钟,1万亿元!四大背离显现! - Reportify