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谦恒策略|预计短期A股市场以稳步震荡上行为主
Sou Hu Cai Jing· 2025-07-02 05:16
Group 1 - The A-share market showed a significant divergence in style, with strong performance in the banking sector supporting the index, while sectors like solid-state batteries and military industries faced adjustments [3] - Long-term capital inflow is accelerating, with steady growth in ETF size and continued inflow of insurance funds, providing significant support to the market [1][3] - The market is expected to maintain a steady upward trend in the short term, with close attention needed on policy, capital flow, and external market changes [1] Group 2 - The overall market remains active, driven by a rebound in risk appetite, although caution is advised against chasing high-performing sectors and stocks [3] - The mid-term market trend appears positive, with expectations for the A-share market to continue its upward trajectory, supported by financial policies aimed at high-quality development and anticipated monetary easing [3] - The liquidity in the equity market is expected to improve significantly due to policies that relax insurance capital entry and attract long-term funds [3]
把握A股中小指数结构性机会
Qi Huo Ri Bao· 2025-07-02 02:47
就7月而言,需要关注以下几点:第一,每年7—8月是中报交易窗口期,按照中报预告有条件强制披露 规则,利润增速>50%的沪深主板绩优公司需要在7月15日之前披露预告,建议关注中报情况。第二,美 国对其他国家和地区"对等关税"的90天豁免即将到期,当地时间6月26日,美国财政部宣布与七国集团 (G7)达成一项协议,该协议将使美国企业免于缴纳其他国家征收的一些税收,作为交换,美国将从 特朗普政府的相关税改法案中撤销第899条款提案。中国外交部及商务部多次声明,坚决反制任何牺牲 中国利益换取美方关税减免的交易,建议密切关注经贸磋商进展。第三,建议关注7月底召开的重要会 议。期指操作上,更多以自下而上视角审视市场结构,重点关注IM的滚动做多机会。(作者单位:一 德期货) (文章来源:期货日报) 6月30日,财政部、税务总局、商务部发布《关于境外投资者以分配利润直接投资税收抵免政策的公 告》,通过税收抵免机制引导外资长期留存并再投资,体现了我国在复杂国际经贸环境下巩固吸引外资 竞争力的战略意图。政策要求,在境外投资者境内再投资期限内,被投资企业从事的产业属于《鼓励外 商投资产业目录》所列的全国鼓励外商投资产业目录,半导体 ...
A500ETF嘉实(159351)近5日净流入超18亿元,机构:A股有望延续震荡上行趋势
Sou Hu Cai Jing· 2025-07-02 02:23
Group 1 - The A500ETF by Jiashi has shown significant liquidity with a turnover rate of 3.09% and a transaction volume of 5.21 billion yuan. Over the past month, the average daily transaction volume reached 30.28 billion yuan, ranking first among comparable funds [3] - In terms of scale, the A500ETF by Jiashi experienced a growth of 16.53 billion yuan in the past week, indicating substantial growth. The fund's shares increased by 16.17 billion shares in the same period [3] - The fund has seen a net inflow of capital, with 4 out of the last 5 trading days recording a total net inflow of 18.28 billion yuan [3] Group 2 - As of June 30, 2025, the top ten weighted stocks in the CSI A500 Index include Kweichow Moutai, CATL, Ping An Insurance, China Merchants Bank, Industrial Bank, Yangtze Power, Midea Group, Zijin Mining, BYD, and Dongfang Caifu, collectively accounting for 20.67% of the index [3] - Yingda Securities suggests a relatively clear upward trend in the mid-term market, with A-shares expected to continue a fluctuating upward trend due to the implementation of financial support policies for high-quality development and expectations of interest rate cuts by the Federal Reserve [3] - Zhongyuan Securities notes that the pace of long-term capital entering the market is accelerating, with steady growth in ETF scale and continuous inflow of insurance funds, providing significant support for the market [4]
和讯投顾郑邯:每年有5个关键时间点,最后一个最为坑人
He Xun Cai Jing· 2025-07-02 02:10
第三个时间点是12月,这个月市场走势通常是先涨后跌,中旬是关键分水岭。因为到了年底,公募和私 募机构都忙着排名,上旬就开始陆续出货以锁定排名。所以,若12月上旬市场上涨,及时减仓准没错, 否则很可能坐过山车,导致利润回吐。 第四个时间点是监管出手之时,其对市场影响巨大。一旦监管提出要打造慢牛行情、打击题材炒作、给 市场降温,游资就会迅速撤离。若投资者此时反应迟缓,大概率会亏损。 最后一个,也是最重要的时间点,是提及引导中长期资金入市之时。仔细观察会发现,每次这一说法出 现,A股就会下跌。要是投资者信以为真,那就可能成为入市接盘的中长期资金。仔细想想,如果短期 就能引入资金入市,又何必提及中长期呢?所以,别轻易在这个时候入场。 (原标题:和讯投顾郑邯:每年有5个关键时间点,最后一个最为坑人) 7月1日,和讯投顾郑邯表示,每年有5个时间点,股民账户资金变动较大,即便牛市也难幸免,尤其最 后一个时间点最为坑人。 第一个时间点是每年4月中下旬,跌停潮几乎成惯例,是股民的噩梦时段。此时是年报集中披露期,一 些上市公司之前描绘的美好蓝图和讲述的故事纷纷被戳穿。虽然从指数看,下跌幅度或许不算特别夸 张,但股民账户的盈亏情况 ...
7月,大暑将至A股动静框架之静态指标
Tianfeng Securities· 2025-07-02 01:44
证券研究报告 2025年07月02日 策略报告:投资策略 7月,大暑将至 A股动静框架之静态指标 作者: 分析师 吴开达 SAC执业证书编号:S1110524030001 分析师 林晨 SAC执业证书编号:S1110524040002 联系人 汪书慧 联系人 陈英奇 请务必阅读正文之后的信息披露和免责申明 1 摘要 交易情绪逐步升温、市场配置指标持续改善、资产联动指标依然位于历史极值位置。我们将4大类指标展开进行分析,最新监测结论如下表所示: 1)资产联动指标中股债相关指标显示目前股票相对债券的配置价值仍然处于历史极值附近,ERP处于1倍标准差附近;市场配置指标方面,目前全 A指数PE估值为19.9,大部分宽基指数PE估值历史分位数位于50%以上及附近水平,创业板指PE估值历史分位数10%附近,估值相对偏低,估值分化 程度较上月基本持平。 2)市场交易/情绪指标方面,换手率、成交额占前高比例等均较上月有所改善,表明市场交易热度逐步升温,行业趋势指标较上月未有明显变化, 而个股趋势指标表明50周均线上方的个股比例较上月有所上升。 3)投资者行为方面,回购规模较上月收窄,而产业资本减持规模走阔,主体资金流较上月回 ...
A股开盘,上证指数开涨0.01%,深证成指开跌0.2%,创业板指开跌0.36%。
news flash· 2025-07-02 01:31
A股开盘,上证指数开涨0.01%,深证成指开跌0.2%,创业板指开跌0.36%。 ...
【机构策略】预计短期A股市场以稳步震荡上行为主
Zheng Quan Shi Bao Wang· 2025-07-02 00:59
Group 1 - The A-share market showed a strong performance in certain sectors such as banking, electricity, chemical pharmaceuticals, and fiberglass, while software development, internet services, batteries, and auto parts lagged behind [1] - Long-term capital inflow into the market is accelerating, with a steady increase in ETF size and continuous inflow of insurance funds, providing significant support [1] - The Federal Reserve's decision to maintain interest rates in June introduces uncertainty regarding future rate cuts, which could significantly boost global risk appetite if clear signals are released [1] Group 2 - The A-share market exhibited a clear divergence in style, with strong performance in dividend stocks despite adjustments in previously strong sectors like solid-state batteries, stablecoins, and military industry [2] - The market is expected to continue its oscillation in the short term, with structural opportunities in specific themes, while caution is advised against chasing high-performing sectors and stocks [2] - The medium-term outlook for the A-share market appears positive, with expectations of continued upward trends supported by financial policies for high-quality development and anticipated interest rate cuts by the Federal Reserve [2]
临近3500点,A股IPO受理加速推进,该如何解读?
Sou Hu Cai Jing· 2025-07-01 23:18
Group 1 - The A-share market has seen a significant increase in IPO approvals, with 150 IPOs accepted in June, accounting for over 85% of the total for the first half of the year [2] - As of June 30, the total market capitalization of A-shares has surpassed 100 trillion RMB, marking a new phase in the market's development [5] - The majority of new IPOs are concentrated in the Beijing Stock Exchange (BSE), with 32 out of 41 new approvals in June coming from this market [2] Group 2 - The BSE has shown strong performance, with the BSE 50 index rising by 40.40% year-to-date, outperforming both the Shanghai and Shenzhen main boards as well as the Hong Kong market [2] - The total number of companies listed on the BSE reached 268, with a market capitalization close to 850 billion RMB, and it is projected to exceed 1 trillion RMB by the end of 2025 [3] - June is typically a peak period for IPO approvals, driven by companies aiming to expedite their listings before the end of the first half of the year [4] Group 3 - The A-share market's current market capitalization of over 100 trillion RMB indicates a substantial increase from 20 trillion RMB in 2007, despite the index not stabilizing above 3500 points [5] - Compared to the US stock market, which has a market capitalization of approximately 60 trillion USD (around 430 trillion RMB), there remains significant growth potential for the A-share market [5] - A healthy stock market should see stock prices driving market capitalization increases, rather than relying heavily on IPO fundraising and refinancing [5]
佳都科技筹划赴港上市 加快国际化布局
Zheng Quan Ri Bao· 2025-07-01 16:43
Group 1 - The core viewpoint of the article is that Jiadu Technology Group plans to issue H-shares and list on the Hong Kong Stock Exchange as part of its global strategy to enhance financing channels and expand its technology application market [2] - Jiadu Technology has previously contributed to the digital transformation of Hong Kong's subway system, enhancing operational efficiency and service quality through initiatives like the QR code payment service [2] - The company aims to improve its international visibility and align its governance with international standards, thereby strengthening its global competitiveness [2] Group 2 - The trend of A-share companies pursuing secondary listings in Hong Kong is supported by favorable policies and the attractiveness of Hong Kong as an international financial center [3] - The Hong Kong market offers a rich variety of financing tools and attracts international investors, which is beneficial for companies looking to expand their global brand image [3] - The supportive policies, continuous optimization of the Hong Kong stock market, and increasing attention from international investors towards Chinese enterprises create a favorable external environment for A-share companies to list in Hong Kong [3]
上半年177宗IPO获受理!6月大爆发,超六成冲击北交所
Bei Jing Shang Bao· 2025-07-01 14:34
在6月IPO"受理潮"开始之前,三大交易所于今年1—5月合计受理了27宗IPO申请。其中,北交所共受理18宗,占比66.67%;创业板、科创板、主板则分别受 理了2家、3家、4家企业的IPO申请。 经计算,2025年上半年,沪深北交易所合计受理了177宗IPO,其中6月单月获受理IPO数量占比高达84.75%。 分板块来看,上述177家IPO企业中,北交所、主板、创业板、科创板受理数量分别为115宗、20宗、21宗、21宗,占比分别为64.97%、11.3%、11.86%、 11.86%。 A股IPO上半年正式收官!伴随6月30日晚间沪深北交易所集中受理41家企业的IPO申请,今年上半年获受理的IPO企业数量达到177家,其中6月获受理IPO达 150家,占比超八成。在上述177宗IPO中,北交所是主阵地,115宗IPO拟冲击北交所,占比超六成。从拟募资额来看,华润新能源以245亿元募资额成为上 半年受理最大的IPO。分省区来看,浙江省以35宗IPO"领跑"全国。 | | Q 请输入查找内容 | | 查找 | 清空 | 备注:点击数据 | | --- | --- | --- | --- | --- | --- ...