咱们先来看看下面这张图，虽然早盘A股多个指数都在上涨，但临近中午，中证500和中证1000代表的中小盘股指数已经开始跳水。 下面，咱们来聊聊A股为啥冲高回落，尾盘突然跳水，3500点为何这么难冲。 深证成指、创业板指、北征50、科创50等多个指数呈现资金净流出。 今天A股冲高回落，沪指冲击3500点得而复失，盘面题材股表现散漫，A股全天成交1.53万亿，较上日进一步放大。宁德时代全天成交79.48亿元，位居A 股第一。 板块上，多元金融延续强势，银行股再度走高，工商银行、邮储银行、农业银行等多只银行股盘中再次刷新新高。 算上今天盘中A股突破3500点，从去年9月份以来，A股一共出现过三次突破3500点的情况。但是与此前两次相比，这次A股成交额仅有1.53万亿， 与此前 相比有较大差距。最近虽然指数一直在上探3500点，但成交量并未明显放大，后市仍需谨慎。 神奇的银行股今天又变得强势了起来，上午一直在努力拉动指数上攻，但尾盘出现了跳水，带动其他板块一起跳水。 综上，今天的行情可能主要是机构主导，主力资金和散户交易热情不高。在当前量能条件下，指数很可能陷入多次震荡循环。若成交不能有效释放，市场 将面临较强的技术性 ...

Market Performance - As of midday, the Shanghai Composite Index rose by 0.58%, the Shenzhen Component Index increased by 1.27%, and the ChiNext Index climbed by 2.25%, with over 3,900 stocks in the market experiencing gains [1]. Sector Performance - The photovoltaic equipment, BC battery, PCB, and energy metal sectors showed the highest gains, while the insurance and agriculture sectors weakened [2]. Capital Flow - Major funds saw a net inflow into the electronics, power equipment, and computer sectors, while there was a net outflow from the banking, public utilities, and transportation sectors [3]. Individual Stock Performance - Specific stocks such as Industrial Fulian, Sungrow Power Supply, and Shenghong Technology experienced net inflows of 2.785 billion, 1.495 billion, and 1.036 billion respectively [4]. - Conversely, stocks like Changjiang Electric Power, Hanyu Pharmaceutical, and Jingbeifang faced net outflows of 393 million, 228 million, and 223 million respectively [5]. Institutional Insights - According to Jin Jun, Investment Director at Qianhai Bourbon Fund, the market has shown resilience since the rally began on June 23, with expectations for the index to challenge 3,674 points in the second half of the year despite facing resistance at the previous high of 3,496 [7]. - Dong Tian from Zhongtai Securities noted that the index is facing significant pressure and suggested focusing on industries with longer cycles and those that have released earnings forecasts to gauge overall industry conditions [7].

每日市场观察 2025 年 7 月 2 日 【今日关注】 周二 A 股全天走势波动不大，收盘三大股指涨跌互现，沪指涨 0.39%， 深证成指涨 0.11%，创业板指跌 0.24%。沪深两市成交额接近 1.5 万亿 元，较前一交易日小幅缩量；行业板块方面，医药、有色、银行、建 材等行业涨幅居前，医药板块里的创新药、免疫治疗、减肥药、维生 素等细分行业表现亮眼，其它概念板块中，光刻机、超导、可控核聚 变等板块也是盘中热点，两市上涨股票数量超过 2600 多只。 三大股指全日小幅整理，市场表现有细微的分化现象，沪指收涨盘中 走势全日飘红但上涨幅度不大，创业板全天在前一交易日收盘下方运 行，收盘小幅下跌；个股涨跌数量基本相当，显示出市场在经过前一 交易周的上涨过后，技术形态需要整固，短线大盘波动幅度不大，市 场运行节奏延续结构性热点轮动，关注中报预告行情。 近日国家医保局联合国家卫生健康委出台《支持创新药高质量发展的 若干措施》，加强医疗、医保、医药三方信息互通，支持医保数据用 于创新药研发，推动创新药研发国家科技重大专项，创新药行业在政 策大力支持和技术创新提速的驱动下成为医药行业热点。近期市场关 注度主要集中在科 ...

2025.07. 01 本文字数：616，阅读时长大约2分钟 作者 | 一财资讯 7月1日，A股三大指数全天窄幅震荡。截至收盘，沪指涨0.39%，深证成指涨0.11%，创业板指跌 0.24%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 1 | 3457.75 c | 13.32 | 0.39% | | 399001 | 深证成指 | NAP | 10476.29 с | 11.17 | 0.11% | | 399006 | 创业板指 | Nor | 2147.92 с | -5.10 | -0.24% | 总体来看，个股上涨和下跌家数基本相当，全市场超2600只个股上涨。 盘面上，创新药板块午后持续走强，中船系、光刻机、银行、贵金属板块涨幅居前；多元金融、固态 电池、AI应用概念股回调。 具体来看，芯片股延续强势，诚邦股份、凯美特气、三超新材等10余股封板。 创新药概念再度爆发，昂利康、塞力医疗、贵州百灵等多股涨停，科兴制药、悦康药业、舒泰神等涨 幅居前。 主力资金全天净流 ...

投资咨询业务资格：证监许可【2012】669号 风险因子：1）微盘股踩踏；2）美元流动性恶化；3）期权市场流动 性不及预期；4）关税超预期；5）供给超预期；6）货币宽松超预期 中信期货研究|⾦融衍⽣品策略⽇报 2025-07-01 股市情绪偏暖，债市延续震荡 股指期货：情绪偏暖，多空良性换⼿ 股指期权：备兑防御为主 国债期货：短期预计债市延续震荡 股指期货方面，情绪偏暖，多空良性换手。大盘股资金拥挤后回撤， 伴随券商板块换手率降低，非银、银行、交运领跌，而资金外流至强热点 小盘股，军工、TMT行业领涨，出现行情扩散。同时，IM出现多空良性换 手，当日IM持仓大降超1.9万手，配合日内贴水走阔，特别是尾盘15分钟 贴水迅速加深，应是上周追涨的多单逐步止盈，且小盘股超额收益改善， 中性策略配合增加对冲空单持仓。另外，地缘风险缓和、关税节点后延， 宏观风险平息，而中报预告临近，市场转向关注内部盈利改善，万得预增 指数创新高。情绪偏暖环境下，保留多头配置，操作上，继续配置IM多 单。 股指期权方面，备兑防御为主。期权方面，虽然情绪指标跟随标的上 行，但期权市场成交额出现明显回落，交易流动性不及预期。在流动性低 迷的衍 ...

Summary of Key Points Core Viewpoint - As of June 22, 2025, 14 A-share listed companies have released their mid-year profit forecasts, indicating a mixed performance with 9 companies expecting profit increases and 5 anticipating declines [1][3]. Group 1: Profit Forecasts - Saint Nor Biotechnology expects a net profit of 77.03 million to 94.14 million yuan, with a year-on-year growth of 253.54% to 332.10%, driven by strong performance in its peptide raw material business [2][3]. - Luxshare Precision anticipates a net profit of 6.475 billion to 6.745 billion yuan, reflecting a growth of 20% to 25%, despite challenges from global trade dynamics [3]. - 13 out of the 14 companies forecast profits, while only one company, Ningbo Huaxiang, expects a loss [3][4]. Group 2: Loss Forecasts - Ningbo Huaxiang predicts a loss of 273.9 million to 369.9 million yuan, a decline of 151.09% to 169.12%, primarily due to a one-time impact from the divestment of its European business [4]. - Zhongce Rubber expects a net profit of 1.91 billion to 2.2 billion yuan, with a decrease of 13.38% to 24.79%, attributed to rising raw material costs and external sales challenges [4]. Group 3: Revenue Growth - Ying Shi Innovation, a newly listed company, forecasts a revenue growth of 32.38% to 57.1%, with a net profit increase of -4.65% to 12.49% [4].