【博时市场点评10月20日】三大指数上涨，创业板涨近2% 每日观点 10月20日，A股三大指数上涨。截至收盘，上证指数报3863.89点，上涨0.63%；深证成指报12813.21 点，上涨0.98%；创业板指报2993.45点，上涨1.98%；科创100报1364.33点，上涨0.85%。申万一级行业 中，通信、煤炭、电力设备涨幅靠前，分别上涨3.21%、3.04%、1.54%；有色金属、农林牧渔、美容护 理跌幅靠前，分别下跌1.34%、0.88%、0.38%。3917只个股上涨，1196只个股下跌。 资金追踪 简评：总的来看，前三季度稳就业稳经济政策举措接续发力，主要宏观指标总体平稳，经济运行保持稳 中有进态势，高质量发展取得积极成效。也要看到，当前经济运行仍面临不少风险挑战，外部不稳定不 确定因素较多，国内经济回升向好基础仍需加力巩固。往后看，经济实现全年预期目标有基础有支撑， 但也需要付出艰苦努力。 10月20日，中国人民银行授权全国银行间同业拆借中心公布，2025年10月20日贷款市场报价利率 （LPR）为：1年期LPR为3.0%，5年期以上LPR为3.5%，自5月以来继续维持不变。 简评：从近期金 ...

Market Overview - The market experienced a day of volatility on May 15, with the ChiNext Index leading the decline. The Shanghai Composite Index fell by 0.68%, the Shenzhen Component Index by 1.62%, and the ChiNext Index by 1.91% [1] - In terms of sector performance, synthetic biology, food, ST stocks, and ports saw gains, while software development, cross-border payments, computing power, and Hongmeng concept stocks faced declines [1] - Overall, more than 3,800 stocks declined across the market, with total trading volume in the Shanghai and Shenzhen markets at 1.15 trillion yuan, a decrease of 164.3 billion yuan from the previous trading day [1] Financial Sector Dynamics - The recent surge in large financial stocks led to a breakthrough of the Shanghai Composite Index above 3,400 points, prompting discussions about a potential mismatch in public fund allocations [3][5] - Analysts suggest that the current market lacks a clear mainline logic, with non-bank financials, coal, and public utilities showing signs of a rebound [5] Investment Strategy Insights - According to research from Xinda Securities, after May, with the earnings report disclosure period concluded and progress in China-US tariff negotiations, market risk appetite may increase, leading investors to refocus on growth stocks [5] - The report recommends focusing on sectors with positive fundamental changes driven by policy catalysts, such as military industry, metals benefiting from price increases, and financial real estate benefiting from stable growth [6] Sector Highlights - The beauty care sector surged by 6.46%, driven by a recent advertisement from Kelun Group promoting its anti-aging product, which has sparked interest in the anti-aging industry [15][17] - The anti-aging industry is categorized into medical and non-medical tracks, with the former focusing on foundational medical research and the latter encompassing various fields including sociology and artificial intelligence [17] ETF Market Activity - A new economy ETF (159822) experienced significant volatility, initially rising by approximately 9% before closing down by 1.22%. The trading volume increased to about 5.2 billion yuan, with a turnover rate of 1084.22% [8][10] - This ETF has shown similar short-term fluctuations earlier this year, indicating a pattern of rapid gains followed by declines [10]