Market Overview - The Shanghai Composite Index opened at 3380.08 points, down 0.04% [1] - The Shenzhen Component Index opened at 10074.27 points, up 0.26% [1] - The ChiNext Index opened at 2024.70 points, up 0.35% [1] - The CSI 300 opened at 3862.39 points, up 0.12% [1] - The STAR 50 opened at 963.79 points, up 0.24% [1] - The CSI 500 opened at 5683.46 points, up 0.16% [1] - The CSI 1000 opened at 6082.74 points, up 0.07% [1] Index Performance - The Shanghai Composite Index recorded a trading volume of 4.5 billion with a year-to-date increase of 0.84% [2] - The Shenzhen Component Index had a trading volume of 7.6 billion with a year-to-date decrease of 3.27% [2] - The ChiNext Index had a trading volume of 3.4 billion with a year-to-date decrease of 5.46% [2] - The CSI 300 had a trading volume of 1.6 billion with a year-to-date decrease of 1.84% [2] - The CSI 500 had a trading volume of 0.91 billion with a year-to-date decrease of 0.74% [2] - The CSI 1000 had a trading volume of 2.7 billion with a year-to-date increase of 2.10% [2]

Market Overview - The Shanghai Composite Index opened at 3374.24 points, down 0.02% [1] - The Shenzhen Component Index opened at 10278.91 points, down 0.09% [1] - The ChiNext Index opened at 2062.27 points, unchanged [1] - The CSI 300 Index opened at 3894.84 points, down 0.04% [1] - The STAR 50 Index opened at 1014.10 points, up 0.44% [1] - The CSI 500 Index opened at 5778.08 points, down 0.06% [1] Index Performance - Shanghai Composite Index: Current price 3374.24, down 0.64 points, with a trading volume of 3.3 billion, year-to-date change of 0.67% [2] - Shenzhen Component Index: Current price 10278.91, down 9.18 points, with a trading volume of 6.3 billion, year-to-date change of -1.30% [2] - North Star 50: Current price 1402.73, down 3.07 points, with a trading volume of 260 million, year-to-date change of 35.16% [2] - CSI All A: Current price 5130.13, down 2.99 points, with a trading volume of 9.9 billion, year-to-date change of 2.16% [2] - STAR 20: Current price 1014.10, up 4.41 points, with a trading volume of 170 million, year-to-date change of 2.54% [2] - ChiNext Index: Current price 2062.27, up 0.01 points, with a trading volume of 2.5 billion, year-to-date change of -3.70% [2] - CSI 300: Current price 3894.84, down 1.42 points, with a trading volume of 1.3 billion, year-to-date change of -1.02% [2] - CSI 500: Current price 5778.08, down 3.59 points, with a trading volume of 1 billion, year-to-date change of 0.91% [2] - CSI 800: Current price 4204.14, down 1.81 points, with a trading volume of 2.4 billion, year-to-date change of -0.53% [2] - CSI 1000: Current price 6144.25, down 6.76 points, with a trading volume of 1.9 billion, year-to-date change of 3.13% [2] - CSI 2000: Current price 2559.85, down 3.07 points, with a trading volume of 3.5 billion, year-to-date change of 9.02% [2] - Wind Micro-Stock Index: Current price 382307.29, up 11.11 points, with a trading volume of 2.917 billion, year-to-date change of 21.02% [2]

Group 1 - The risk premium percentile of the CSI All Share Index is 80.66%, indicating that the market is in a high return zone [1][8] - The current values of the Shanghai Composite Index, CSI 300, and CSI 800 have a good match with their risk premium percentiles, warranting close attention [1][8] - The price-to-book ratio percentile of the CSI All Share Index is 13.58%, suggesting that the market is generally undervalued [1][12] Group 2 - The undervaluation of the Shanghai Composite Index is the most significant among the broad indices being monitored, making it a focal point [1][13] - The deviation rate of the CSI All Share Index is -3.13%, indicating that the overall price level of the market is in a normal range [1][17] - In the past six months, the growth style represented by the STAR 50 has achieved significant excess returns, but this changed in March, necessitating observation of potential shifts between value and growth styles [1][22] Group 3 - The performance of high and low valuation styles has been mixed over the past six months, with low valuation styles showing a clear advantage in March, which should be monitored for sustainability [1][26] - Small-cap styles have outperformed in the last six months, but this trend changed in March, indicating a need to observe potential shifts between large and small-cap styles [1][30] Group 4 - Investors are advised to pay attention to convertible bonds from an asset allocation perspective, as they have shown excess returns relative to the CSI All Share Index over the past six months [2][42] - The performance of bond-oriented portfolios has been notably superior, suggesting a focus on bond-oriented convertible bonds moving forward [2][44]