牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 泓德基金指出，复盘中国2005年以来A股市场，在主要指数短期涨幅快速超过30%后，市场均会出现调整，而本轮也不意外。 "即便是史诗级的行情，中途也可能出现多次远超1%的回撤。"华夏基金回顾过往牛市规律时表示，市场的上行趋势往往不是一路坦途，而是"进二退一"的螺旋式上 升。数据显示，过去6轮牛市中，阶段性跌破20日均线并不罕见，一共99次。震荡调整正是交易风险释放的过程，过热情绪有所平复，整体来看A股下行风险不大。 9月4日，近期爆火的光模块（CPO）、光芯片等概念股大幅回调，受此影响，沪深三大指数调整，沪指失守3800点，创业板跌超4%，"急刹车"的行情让投资者 们在"倒车接人"还是"行情结束"的判断里左右为难。 多家公募基金指出，4日的下挫是正常的调整，无需恐慌。复盘历史上多轮行情，市场的上行趋势往往不是一路坦途，而是"进二退一"的螺旋式上升；在快速积累一 定涨幅后，当下的回撤正是交易风险释放的过程。 虽然多家公募研判行情整体仍旧乐观，但在部分板块领跑多日甚至达到历史高位之际，资金的"高低切"依旧是 ...

9月4日，近期爆火的光模块（CPO）、光芯片等概念股大幅回调，受此影响，沪深三大指数调整，沪 指失守3800点，创业板跌超4%，"急刹车"的行情让投资者们在"倒车接人"还是"行情结束"的判断里左 右为难。 多家公募基金指出，4日的下挫是正常的调整，无需恐慌。复盘历史上多轮行情，市场的上行趋势往往不 是一路坦途，而是"进二退一"的螺旋式上升；在快速积累一定涨幅后，当下的回撤正是交易风险释放的过 程。 虽然多家公募研判行情整体仍旧乐观，但在部分板块领跑多日甚至达到历史高位之际，资金的"高低切"依 旧是投资者在择股时需要关注的重点。因此，低位滞涨且基本面扎实的标的或将关注度提升，如出海概 念、消费板块以及估值合理的新质生产力概念等。 或为止盈需求和技术调整 对于4日的行情，多家公募指出，当下市场下挫是正常的调整，无需恐慌。 博时基金表示，一方面，前期涨幅较大的科技板块面临技术性调整压力，部分龙头品种自高点回落幅度较 大，或加速获利资金的兑现了结。另一方面，外部不确定因素增加，美国总统特朗普罢免美联储理事事件 引发市场对美联储独立性的担忧，叠加9月议息会议临近，市场对于美联储9月降息后的政策路径仍有分 歧，全球避险情 ...

人民财讯9月4日电，多家公募基金指出，4日的下挫是正常的调整，无需恐慌。复盘历史上多轮行情， 市场的上行趋势往往不是一路坦途，而是"进二退一"的螺旋式上升；在快速积累一定涨幅后，当下的回 撤正是交易风险释放的过程。 虽然多家公募研判行情整体仍旧乐观，但在部分板块领跑多日甚至达到历史高位之际，资金的"高低 切"依旧是投资者在择股时需要关注的重点。因此，低位滞涨且基本面扎实的标的或将关注度提升，如 出海概念、消费板块以及估值合理的新质生产力概念等。 ...

Core Viewpoint - The recent market correction, particularly in optical module and chip stocks, is viewed as a normal adjustment rather than a sign of a market downturn, with historical patterns suggesting that such corrections are part of a broader upward trend [2][3]. Market Adjustment Analysis - The decline on September 4 is attributed to profit-taking and technical adjustments, particularly in previously high-performing technology stocks, alongside external uncertainties such as U.S. Federal Reserve policy concerns [3]. - Historical data indicates that after significant short-term gains, A-share markets often experience corrections, with adjustments being a common occurrence in bull markets [3][4]. Market Phases - Major market rebounds typically go through three phases: initial sharp increases driven by risk-tolerant investors, followed by structural rallies focused on performance growth, and finally a phase dominated by market sentiment and liquidity rather than fundamentals [4]. Current Market Conditions - Despite recent corrections, market liquidity remains adequate, and the economic recovery is ongoing, suggesting a stable foundation for the market [5]. - The current market is believed to be in the second phase of a rally, with valuations rising but not yet reaching bubble levels [5][6]. Investment Strategies - Investors are advised to focus on "high-low cuts" in stock selection, indicating a shift from high-valuation growth stocks to lower-valuation defensive stocks [7]. - Suggested sectors for investment include consumer, innovative pharmaceuticals, and new energy, with an emphasis on identifying undervalued stocks [7][8]. Future Outlook - The outlook remains optimistic for sectors such as overseas expansion, new productivity technologies, and cost-effective consumer goods, with a belief in the long-term growth potential of Chinese manufacturing and technology [8]. - The overall trend indicates that the recent market adjustment is a necessary phase for stabilizing after rapid gains, positioning A-shares for future growth [8].