中信证券表示市场当前交投较为活跃从各类资金情况来看此轮行情持续到现在主要的发起者和推动者并非散户高净值人群及企业客户等更

智通财经
Aug 30, 2025
中信证券表示市场当前交投较为活跃从各类资金情况来看此轮行情持续到现在主要的发起者和推动者并非散户高净值人群及企业客户等更为长期理智的资金入市热情更高。因此应继续聚焦核心产业趋势关注估值与成长匹配。从配置方向上看建议一是聚焦创新药、资源、传媒、军工等有真实利润兑现或者强产业趋势的行业;二是我们重点提示关注供给在内需求增长在外中国已经或有希望有持续定价能力的行业目前看主要集中在部分周期行业;三是9月份有密集的消费电子产品发布会关注端侧AI及设备的相关进展。总体来说结构牛行情持续建议保持对成长估值匹配行业的聚焦如创新药、资源、传媒、军工;关注“反内卷+出海”的化工股关注9月消费电子相关催化。

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