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郑眼看盘丨A股回调,微盘股受挫
Mei Ri Jing Ji Xin Wen· 2025-05-22 11:08
Market Overview - A-shares experienced a broad decline on Thursday, with the Shanghai Composite Index falling by 0.22% to 3380.19 points, the Shenzhen Composite Index down by 0.95%, and the ChiNext Index decreasing by 1.15% [1] - The total trading volume across A-shares was 1.1397 trillion yuan, a decrease from 1.2144 trillion yuan on Wednesday [1] - Small-cap stocks led the decline, while sectors such as banking, insurance, coal, oil, and public transportation saw gains [1] Sector Performance - The sectors that experienced the largest declines included batteries, non-metallic materials, engineering consulting services, automotive services, professional services, beauty care, instrumentation, electronic chemicals, and food and beverage [1] - The recent pullback in small-cap stocks is attributed to excessive inflows of funds and crowded trading, leading to volatility in market sentiment [1] U.S. Market Influence - The U.S. financial market faced a "triple hit" with declines in stocks, currencies, and bonds, as all three major U.S. stock indices fell by over 1% [1] - The 30-year U.S. Treasury yield rose from 4.973% to 5.094%, while the 20-year yield increased from 4.998% to 5.122%, and the 10-year yield went from 4.487% to 4.601% [1] - The poor demand in the recent 20-year Treasury auction, with a yield exceeding 5%, contributed to the negative sentiment in the U.S. market [2] Investor Sentiment - Despite the decline in small-cap stocks, the overall market sentiment remains relatively stable, with most stocks that had limited prior gains not experiencing significant declines [2] - International institutions have shown a noticeable improvement in their outlook on A-shares, with foreign capital entering the market [2] - Positive signals from China regarding tariff negotiations, military product capabilities, and chip development may contribute to a gradual accumulation of favorable conditions in the market [2]