红利成长分化

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基金研究周报:A股再现普涨,红利成长分化(6.30-7.4)
Wind万得· 2025-07-05 22:21
Market Overview - A-shares exhibited a "strong in Shenzhen, weak in Shanghai" characteristic last week, with the Shanghai Composite Index rising by 1.40% and the Shenzhen Component Index increasing by 1.25% [2] - The banking sector index reached a new high, indicating a shift of funds from overvalued sectors to policy-benefiting areas [2] - The average increase of Wind's first-level industry was 1.30%, with 81% of sectors showing positive returns, particularly steel, building materials, and banking, which rose by 5.06%, 3.96%, and 3.77% respectively [2][13] Fund Issuance - A total of 20 funds were issued last week, including 11 equity funds, 5 mixed funds, 3 bond funds, and 1 fund of funds (FOF), with a total issuance of 5.328 billion units [4][10] Fund Performance - The Wind All Fund Index increased by 0.71% last week, with the ordinary equity fund index rising by 1.60% and the mixed equity fund index increasing by 1.25% [3][9] Global Asset Review - International equity markets showed slight divergence, with U.S. stocks continuing to rise, driven by Nvidia's market capitalization nearing $4 trillion, while European markets displayed weakness due to concerns over economic recovery [5] - Commodity markets experienced significant differentiation, with oil prices influenced by U.S. economic data and international risk factors, while metals like copper, aluminum, gold, and silver recorded gains [5] Domestic Bond Market Review - The bond market remained stable, with the China Bond Composite Index rising by 0.15% and the convertible bond index performing well with a gain of 1.21% [14]