本周，A股市场震荡，但周五下午突然跳水，使得各大宽基指数的周K线均下跌。与此同时，从周四开 始，此前维持了一段时间的板块轮动行情，开始消失。 那么，这是否意味着市场要开始调整了？后市机会又在哪里？今天，达哥和牛博士就大家关注的话题展 开讨论。 牛博士：达哥，你好。本周行情略微偏弱，在周四及周五的行情中，不仅板块轮动行情开始消失，而且 个股普跌。在影响市场的因素方面，海外传来了利空，这对市场有何影响？市场会进行一轮调整吗？ 道达：外围方面，主要有几个事件。 一是特朗普建议自6月1日起对欧盟征收50%的关税；二是特朗普称，对不在美国生产的手机制造商征收 25%的关税；三是日本长期国债收益率近期急剧上涨。 上述事件中，潜在影响最大的，莫过于特朗普建议对欧盟征收50%的关税。因为特朗普的言论打破了此 前90天的"缓冲期"预期，同时也让本就艰难推进的美欧贸易谈判面临更大的变数。 虽然有分析人士正在评估6月1日会不会成为又一个全球资本市场的"4月2日"，但我认为，只要不涉及中 美贸易，那么对A股的影响会是有限的。 就A股市场来说，当前的调整，更多的是市场内生动力偏弱的缘故。 周四，之前维持了一个多月的板块轮动行情突然消失 ...

Group 1 - The regulatory authorities have been promoting the entry of long-term funds into the A-share market, leading to a decline in short-term speculative activities and a more stable market environment [1][2] - The proportion of long-term funds in the A-share market is increasing, which contributes to lower market volatility and a more rational investment atmosphere [1][2] - The previous dominance of short-term speculative trading, characterized by the "涨停板敢死队" (limit-up daredevils), is diminishing as the market shifts towards value investing and long-term capital [1][2] Group 2 - Institutional investors, such as social security funds and insurance capital, are increasingly investing in high-quality assets, driving the revaluation of performance stocks [2] - The number of stocks hitting daily limit-ups has significantly decreased, indicating a shift from speculative trading to a focus on steady growth stocks [2] - The current market environment is characterized by a transformation in listed companies towards new productive forces, with capital markets playing a crucial role in this transition [2][3] Group 3 - Technology innovation companies require long-term capital due to their high investment needs and operational uncertainties, emphasizing the importance of patient capital [3] - The shift towards long-term investment not only supports the transformation and upgrading of listed companies but also allows investors to share in the growth dividends of these enterprises [3]

Group 1 - The China Securities Regulatory Commission (CSRC) has adjusted market opening arrangements, emphasizing the importance of investor protection and the development of a high-quality capital market [1] - The CSRC has implemented strict regulations on high-frequency trading, defining it as canceling 300 orders per second, which aims to curb manipulative trading practices [1] - The A-share market is influenced by quantitative funds and institutions that often exploit market gaps, leading to significant volatility and losses for retail investors [1] Group 2 - The latest performance report from Cambrian Technology is seen as a positive signal for the semiconductor sector, potentially stimulating a rally in the industry [3] - Overall market sentiment is leaning towards a favorable outlook for A-shares, with expectations of a recovery and upward movement unless unexpected negative news arises [3] Group 3 - The market performance this week has been mixed, with indices showing strength while individual stocks have struggled, indicating a fragmented market environment [5] - Despite a late rally, the Shanghai Composite Index still showed a downward trend, with a critical resistance level identified between 3300 and 3320 points [7] - The securities sector is currently positioned for a potential rebound, which could significantly support the overall index if it gains upward momentum [7]