A股三大指数今日（9月4日）集体回调，截至收盘，沪指跌1.25%，深证成指跌2.83%，创业板指跌 4.25%。沪深两市全天成交额达到25443亿元。 盘面上，高股息逆市拉升，银行股持续走强，多只银行股创历史新高，银行ETF（512800）场内价格收 涨近1%，标普红利ETF（562060）、价值ETF（510030）、800红利低波ETF（159355）等均小幅收 红。下跌方面，光模块等算力硬件集体大跌，创业板人工智能ETF（159363）全天单边下挫，场内价格 收跌9.28%；港股亦表现不佳，港股AI核心工具——港股互联网ETF（513770）场内价格收跌1.52%。 | 序号 代码 | 涨跌幅 ▼ | | --- | --- | | 1 562010 绿色能源ETF | 3.46% | | 2 512800 银行ETF | 0.96% | | 3 562060 标普红利ETF | 0.34% | | 4 510030 价值ETF | 0.28% | | 5 159355 800红利低波ETF | 0.19% | 财信证券研报称，市场经历快速轮动后或进入震荡整固阶段，但中期向好趋势未改。本轮上涨本身由流 ...

"家人们，上周五欧美股市一片哀嚎，道指狂泻千点，纳斯达克崩了2.24%——但帮主敢说：今天A股开盘的恐慌，恰恰是聪明钱的狩猎场！ 我是帮主郑重， 二十年穿越牛熊的老炮儿，今儿就带你们拨开迷雾，看清8月4日的生死门在哪儿！" 第一盏灯：外围雷暴，A股的"避雷针"在哪？ 美股暴跌的导火索是美国非农数据崩盘——7月新增就业仅7.3万人，连预期的一半都不到！特朗普急得想炒劳工统计局长鱿鱼，市场对9月降息预期飙到 75%。但别被恐慌带偏节奏：美元跳水，人民币汇率稳在7.19关口，离岸资金甚至小幅升值——这就是A股今天的缓冲垫！ 更关键的是，央行下半年会议刚 明牌：继续宽松！流动性闸门根本没关紧。 别看北向资金本周跑了182亿（年内新高），但尾盘沪深300ETF突然放量——要么是机构调仓，要么是国家队出手！。散户却犯了大忌：恐慌割肉在深成指 支撑区，反手追券商白酒，妥妥被割韭菜。 最值得玩味的是科技股分化：算力硬件（光模块、PCB）被机构疯抢，而游资借着雅下水电、机器人的反弹出货——今天的板块强弱，就是资金态度的试金 石！。 散户生存三铁律！ 第二盏灯：技术面的"缺口生死线"！ 上证周五精准回踩20日线（3550点），深 ...

Key Points - The article discusses the recovery of equity market sentiment and the fluctuating bond market in May 2025, influenced by the US-China tariff agreement and monetary policy adjustments [2][5][6] - It emphasizes the importance of balancing growth and defensive strategies in investment portfolios, highlighting the need to capture structural opportunities while being cautious of external disturbances and domestic economic data fluctuations [2][14] - The performance of various fund styles is analyzed, showing that value and balanced styles outperformed growth styles in May 2025, with significant movements in sector-specific funds, particularly in healthcare and military themes [9][10][11] Equity Market Overview - In May 2025, the equity market experienced a "rise, fall, and stabilization" pattern, with major indices showing gains due to supportive monetary policies and the US-China tariff agreement [6][7] - The overall trading volume decreased, indicating a lower risk appetite among investors, with small-cap stocks seeing increased activity [11][12] Bond Market Overview - The bond market exhibited a narrow range of fluctuations, with government bond issuance and tariff negotiations impacting interest rates [8][18] - The yields on 1-year, 3-year, and 10-year government bonds changed slightly, reflecting the market's response to monetary policy and external factors [18][26] Fund Performance Review - The article reviews the performance of public funds, noting that all major equity fund indices recorded gains, with the Wande Stock Index and Wande Ordinary Stock Index leading with increases of 1.59% and 1.23%, respectively [7][8] - The article highlights the performance of thematic funds, particularly in healthcare and military sectors, which saw significant gains due to market dynamics and geopolitical events [10][11] Fund Strategy Insights - The article outlines strategies for equity and fixed-income fund allocations, suggesting a focus on growth and defensive sectors while maintaining a balanced approach [2][3][14] - It discusses the construction of various fund indices, including low, medium, and high volatility fixed-income funds, aimed at providing stable returns while managing risks [19][28][30]