金吾财讯 | A股三大指数早盘震荡调整，截至午间收盘，沪指涨0.20%，深成指跌1.13%，创业板指跌2.18%。板块上看，CPO、元件、PCB、激光雷达等板块跌幅居前；乳业、猪肉概念、CRO、影视院线等板块涨幅居前。中金公司表示，近期A股完成探底企稳修复行情。7月受内外部多重因素扰动市场大幅回调，7月20日主要指数创下阶段低点。伴随高层表态与系列稳市举措落地，市场情绪逐步修复，各大指数反弹，两市成交回暖，资本市场制度带来的市场韧性得到显现。该机构认为，本轮行情两大核心驱动——国际秩序重构与国内产业创新并未动摇，A股有望延续稳进行情。选股上盈利兑现能力成为核心。景气成长方向，光通信、PCB等AI基建景气确定性高，半导体、算力需甄别基本面与估值匹配度；周期端可关注电网设备、石化化工、工程机械、非银金融及贵金属；内需复苏节奏仍待观察。随着风险偏好修复，前期占优的红利风格或将温差收敛。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.