Core Viewpoint - The A-share market is performing well, with major indices rising, driven by positive internal and external factors [1] Market Performance - As of the report, the three major A-share indices are up, with the ChiNext Index increasing by over 2.00%, the Shanghai Composite Index rising by 0.25%, and the Shenzhen Component Index up by 0.90% [1] - Nearly 2000 stocks in the Shanghai, Shenzhen, and Beijing markets have seen price increases [1] External Factors - The weak U.S. labor market, with July non-farm payroll data falling short of expectations and previous months' data being significantly revised down, has raised concerns about the U.S. economy [1] - This situation has led to heightened expectations for a potential interest rate cut by the Federal Reserve in September, which may improve overseas liquidity [1] Internal Factors - Domestic policies are actively supporting the market, and the fundamental economic conditions remain resilient, which is expected to support domestic asset prices [1] - The combination of "anti-involution and major infrastructure" policies is likely to optimize the supply-demand structure, leading to stabilization and improvement in overall profitability and return on equity (ROE) across the A-share market [1] Future Outlook - With the systematic decline of domestic risk-free interest rates and the spillover of overseas dollar liquidity, incremental capital is expected to continue flowing into the market [1] - The market is anticipated to transition to a performance-driven phase, with the index's central tendency gradually moving upward as earnings improve [1]

Group 1 - A-shares market indices showed strong performance, with the Shanghai Composite Index breaking the previous high of 3674.40 points, reaching 3680.21 points, the highest since December 2021 [1] - Over 3100 stocks in the A-share market experienced gains, with notable sectors including industrial gases, semiconductor materials, and cultivated diamonds [1] - The financing balance in the A-share market reached a new high of 20345.33 billion yuan, with an increase of 411.73 billion yuan in August alone [1] Group 2 - Overall, the A-share market is expected to maintain strong performance due to accumulating internal and external favorable factors [2] - External factors include a weak US labor market and expectations of a potential interest rate cut by the Federal Reserve, which may improve overseas liquidity [2] - Domestic policies are actively supporting the market, with a focus on infrastructure and supply-demand optimization, leading to an anticipated stabilization and improvement in overall profitability and return on equity (ROE) [2]

Market Performance - The market rebounded last week, with the China Securities Xinhua National Brand Index rising by 0.94% to 1666.03 points [1] - The Shanghai Composite Index increased by 0.76%, the Shenzhen Component Index by 0.52%, the ChiNext Index by 1.38%, and the CSI 300 Index by 1.12% [1] Strong Stock Performances - Notable strong performers in the brand index included BGI Genomics, which rose by 17.27%, and Yiling Pharmaceutical, which increased by 9.81% [1] - Other significant gainers included Stone Technology and Marubi Biological, which rose by 7.18% and 6.79%, respectively [1] Year-to-Date Stock Gains - Since the beginning of 2025, Marubi Biological has surged by 60.82%, leading the gains, followed by Shanghai Jahwa with a 46.72% increase and BGI Genomics with a 34.45% rise [2] - Other stocks with notable increases include Anji Technology, Xintai, and Weir Shares, each rising over 20% [2] Market Outlook - Institutions expect the market to refocus on domestic economic fundamentals, with a positive policy response anticipated [2][3] - The current market is viewed as being in a high cost-performance range, with significant policy support expected to stabilize the economy and market [2] Economic Data Focus - Attention is drawn to upcoming economic data, particularly export performance and the sustainability of the export supply chain recovery [3] - The prevailing market conditions are supported by policy measures and liquidity easing, which are expected to bolster the stability of the domestic economy and capital markets [3]