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早盘直击|今日行情关注
申万宏源证券上海北京西路营业部· 2025-09-23 02:39
Group 1 - The market's focus is shifting back to the domestic economic trends following significant external events, including the Federal Reserve's interest rate cut and successful talks between China and the U.S. in Spain [1] - There is a keen interest in whether more demand-side measures will be introduced to stabilize economic growth, with fiscal policy being particularly crucial [1] - The "anti-involution" efforts on the supply side are essential for the recovery of the Producer Price Index (PPI) and the acceleration of profit growth for listed companies [1] Group 2 - The two markets are experiencing a mixed performance, with the Shanghai Composite Index finding support at the 30-day moving average [1] - On Monday, the Shanghai Composite Index showed narrow fluctuations, touching the 30-day moving average before rebounding, but still closing below the 5-day moving average [1] - The Shenzhen Component Index maintained a strong performance, closing above the 5-day moving average, while overall market volume reached approximately 2.1 trillion yuan, slightly down from the previous Friday [1] Group 3 - The market is currently undergoing a technical consolidation after a continuous upward trend, with signs of profit-taking emerging since the end of August, indicating a short-term divergence between bulls and bears [2] - Despite the pullback, the low points of the Shanghai Composite Index remain above the 2021 market highs, suggesting that the strong adjustment phase is still intact [2] - Some sector indices continue to show an upward trend, indicating that structural opportunities still exist within the market [2]