MACD金叉信号形成，这些股涨势不错！ 责任编辑：杨赐 © 华宝基金 F FT OOD OOET 长空真会植下収益日国的值交 ...

Investment Rating - The report maintains an "Overweight" rating for the financial products sector [1] Core Insights - The market is expected to experience a wide-ranging upward trend despite increased volatility, with structural opportunities continuing to emerge [2][18] - Current models indicate a bullish signal, suggesting a market environment similar to the high-growth investment periods of 2019 and 2020 [18] - The overall sentiment remains positive, with a focus on maintaining positions in high-performing stocks while allowing for rotation within sectors [20] Summary by Sections A-share Market Overview (August 11-15, 2025) - The top three broad indices were: ChiNext Index (up 8.58%), Sci-Tech 100 (up 7.32%), and Sci-Tech Comprehensive Index (up 5.66%) [10][11] - The bottom three indices were: Dividend Index (down 1.68%), CSI Dividend (down 1.11%), and Wind Micro-Cap Daily Equal Weight Index (down 0.75%) [10][11] A-share Market Outlook (August 18-22, 2025) - The report anticipates continued healthy growth despite short-term fluctuations, with a risk level of 104.13 indicating an overbought state for the Wind All A Index [18][22] - High prosperity investment indices are outperforming the Shanghai Composite Index, suggesting a favorable environment for high-growth investments [18] Fund Allocation Recommendations - The report suggests a balanced allocation in ETFs, reflecting the anticipated structural market opportunities [2]

Investment Rating - The report maintains an "Overweight" rating for the financial products sector [1]. Core Views - The report expresses a viewpoint of "not fearing adjustments, expecting wide fluctuations" in the market [1][17]. Summary by Sections A-share Market Overview (July 28 - August 1, 2025) - The top three broad indices were: - Wind Micro-Pan Daily Equal Weight Index (1.09%) - Sci-Tech Innovation Index (0.65%) - Sci-Tech 100 (0.52%) - The bottom three broad indices were: - North Certificate 50 (-2.70%) - Dividend Index (-2.67%) - China Securities Dividend (-2.65%) [10][11]. A-share Market Outlook (August 4 - August 8, 2025) - The monthly macro model score for August is 0, with a historical probability of 75% for an increase, indicating a high likelihood of continued upward movement in the A-share market [24]. - The technical timing model shows that the Wind All A Index has a risk level of 103.88, indicating an overheated market, which may lead to increased volatility [17][21]. - The report suggests that the market may experience wide fluctuations, but structural opportunities will continue to emerge [20]. Fund Allocation Recommendations - The report recommends a balanced ETF allocation strategy, considering the current market conditions and potential for future recovery [5][20]. Risk Trend Model Results - As of August 1, 2025, the top three broad indices in the risk trend model were: - Wind Micro-Pan Daily Equal Weight Index (26.99) - China Securities Dividend (26.91) - North Certificate 50 (26.68) - The bottom three were: - ChiNext Index (14.51) - CSI 300 (15.78) - Shenzhen Component Index (16.69) [32][36]. Style Index Model Results - As of August 1, 2025, the top three style indices were: - Large Cap Value (24.87) - Mid Cap Growth (23.18) - Mid Cap Value (21.32) - The bottom three were: - Financial (7.69) - Stability (13.16) - Cycle (15.14) [42][46]. Industry Index Model Results - As of August 1, 2025, the top three industry indices were: - Food and Beverage (58.54) - Banking (40.70) - Beauty and Personal Care (39.96) - The bottom three were: - Non-ferrous Metals (13.27) - Composite (13.71) - Electric Power Equipment (15.80) [53][57].

Group 1 - The A-share market showed resilience despite escalating tensions in the Middle East, with over 80% of stocks rising and nearly 90% of equity ETFs also increasing, except for the food and beverage sector which saw a decline of over 0.5% [1][4] - The relationship between the Hang Seng Index and Brent crude oil prices was inverse, indicating that a drop in oil prices contributed to the rise in stock indices, reflecting limited risk aversion among investors [3][4] - The semiconductor sector experienced a significant uptick due to news from the US about the potential cancellation of export exemptions for chip manufacturing equipment, which is expected to benefit domestic alternatives in China [5][8] Group 2 - The first wave of market rebound was driven by the semiconductor sector, particularly the semiconductor equipment ETF, which surged following the announcement of the US's plan to revoke exemptions for certain companies [8][10] - Southbound capital saw a net inflow of nearly 8 billion, marking the highest net purchase since June, which contributed to the overall market rebound, particularly in the Hong Kong market [12][16] - The overall market sentiment was buoyed by the performance of the semiconductor sector, while related markets in South Korea and Taiwan faced declines due to the negative implications of the US policy change [10][15]

责任编辑：彭紫晨 专题：深交所2025全球投资者大会：新质生产力 投资中国新机遇——开放创新的深圳市场 5月19日至20日，深交所2025全球投资者大会在深圳举行。大会主题为"新质生产力：投资中国新机遇 ——开放创新的深圳市场"，通过主旨演讲、圆桌讨论、公司路演等多种形式，展现中国资产和A股市 场投资价值。简街资本中国业务主管彭英之出席会议并发表看法。 彭英之表示，从长远来看，从经验来看，看向全球的市场，也在中国做了大量的工作去了解目前市场的 格局和动态，主要有两点将会带动中国ETF的市场。一是大宗交易的系统和机制。 二是固收ETF。我们现在看到的中国的固收ETF以及权益ETF的规模，和其他主要ETF市场进行比较， 会发现未来的增长潜力是非常巨大的，而且未来有更多的基础设施方面需要去建设，目前固定的流动性 的环境可能比其他的市场会更加复杂一点，但他认为，如果固收ETF的市场可以进一步增长，那就是他 们希望看到的，或者说希望能够通过这个的发展来进一步提升流动性。2020年3月份，当时全球都在讨 论固收的ETF流动性是不是个泡沫，因为固收的ETF流动性并不高，但是2020年3月份疫情影响到了美 国，当时固收的ET ...

Investment Rating - The report maintains an "Overweight" rating for the sector [1] Core Viewpoints - The market is expected to experience a period of volatility, with a focus on relative opportunities in the pharmaceutical and dividend sectors [19][21] - The model predicts a potential shift to a downward trend for the Wande All A Index, indicating a possible adjustment phase in May [19][26] - The pharmaceutical sector is highlighted for its relative stability and potential for returns, while the dividend sector is also expected to perform well after a short-term adjustment [19][21] Summary by Sections A-share Market Overview (May 12-16, 2025) - The top three broad indices were: North Certificate 50 (3.13%), Wande Micro-Pan Daily Equal Weight Index (1.58%), and ChiNext Index (1.38%) [10] - The bottom three indices were: Sci-Tech Innovation 100 (-1.29%), Sci-Tech Innovation 50 (-1.10%), and Sci-Tech Comprehensive Index (-1.00%) [10] A-share Market Outlook (May 19-23, 2025) - The Wande All A Index's daily model shifted from a positive to a negative signal on May 15, suggesting a potential adjustment phase [19][26] - The monthly model for May scored -2.5, indicating a slight adjustment in the A-share market [19][26] - The report anticipates a "V-shaped" market movement, with ongoing pressure on trading volumes [19] Fund Allocation Recommendations - The report suggests a defensive ETF allocation strategy, focusing on the pharmaceutical and dividend sectors for relative returns [19][21]

Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Views - The A-share market is expected to experience narrow fluctuations while waiting for earnings to materialize [20][21] - The macro high-frequency model for the Wande All A Index continues to oscillate around the 0 signal, indicating a neutral position for the technical timing model [20] - Growth sectors are anticipated to have stronger rebound momentum, while the consumer sector may remain relatively stable [20][21] Summary by Sections A-share Market Overview (April 21-25, 2025) - Major broad-based indices performance: - Top three indices: CSI 2000 (2.71%), Wind Micro Index Daily Equal Weight (2.52%), CSI 1000 (1.85%) - Bottom three indices: North Securities 50 (-2.16%), Shenzhen Dividend (-0.43%), Sci-Tech 50 (-0.40%) [10][12] - Style index performance: - Top three: Cyclical (CITIC style) (2.44%), Mid-cap Growth (1.59%), Small-cap Value (1.49%) - Bottom three: Large-cap Value (-0.30%), Financial (CITIC style) (0.21%), National Value (0.24%) [13][15] - Industry index performance: - Top three: Automotive (4.87%), Beauty Care (3.80%), Basic Chemicals (2.71%) - Bottom three: Food & Beverage (-1.36%), Real Estate (-1.31%), Coal (-0.63%) [16][18] A-share Market Outlook (April 28-30, 2025) - The market is expected to maintain a relatively stable structural trend, with sectors that have previously declined showing better performance [20][21] - The upcoming earnings announcements and the May Day holiday may lead to a cautious trading environment [20] - The report suggests a balanced allocation strategy in ETFs, with a recommendation for dividend stocks to smooth overall portfolio volatility [21] Fund Allocation Recommendations - The report advises a structured and balanced allocation in ETFs, considering the potential for stronger rebounds in growth sectors and the stability of dividend stocks [21]