The three major A-share indices continued to rise yesterday, with the Prev opening at 3400 points and then narrowing gains; the gem took over, with the index rising more than 3 per cent at one point to a four-and-a-half-year high above 2600 points, with more than 2700 stocks floating red in the two markets. At the same time, the influx of incremental funds contributed to the rapid growth of A-shares. Trading in Shanghai and Shenzhen stock markets exceeded 1.5 trillion yuan for two consecutive days, the balance of financing and financing also continued to rise, and foreign investors entered the market at the pace of the surge in A-shares. Under such a sharp rise, what is the level of market investment sentiment? What is the performance of various funds in the scramble for "style war"? How should investors grasp the short-term style of the market?

The transaction between the two cities continues to enlarge.The market is full of optimism

The transaction between the two cities continued to enlarge, and the balance of the two financial institutions broke through the highest level in 16 years. Compared with the previous concussion of 3000 points, the market index rose sharply without a trace of hesitation. On the whole, the popularity of the two cities has obviously picked up since July, with the trading volume breaking through trillion yuan for four consecutive trading days. This week, the trading volume was further enlarged, following the breakthrough of 150 million yuan on Monday, the highest in nearly five years, and the half-day turnover on Tuesday, which exceeded trillion yuan. The market is full of optimism as volume and price rise. At the same time, the balance of finance and finance is also rising steadily, surging to 1.2418 trillion yuan a day on Monday, breaking through the highest value in 2016, and the net purchase amount of financing since July has reached 72.2 billion yuan, close to the level of the whole month in June. In the industry, in addition to the short-term hot non-bank finance and banks, enthusiasm for electronics, computers, medical biology, and media is still high.

Setting a record in the north-south direction, foreign investment starts the mode of sweeping goods.

Following the record of southbound and northbound trading of the Shanghai-Shenzhen-Hong Kong Stock Connect on July 6, "northbound funds" continued to buy 9.844 billion yuan net throughout the day on Tuesday, with a total turnover of 191.1 billion yuan reaching a new high, and the total daily turnover of "southbound funds" exceeded 60 billion. Setting a new record for the fourth consecutive trading day. On the whole, the total inflow of Land and Stock Exchange in July was 53.8 billion yuan, and the trend of foreign capital "braving the wind and waves" exceeded that of the whole month of June. From the perspective of buying activity, compared with the previous three months, in addition to the large consumption and electronics that insist on sweeping the "main line" market, non-bank finance and bank real estate with blue chips of value are appropriately added, but the overall attention to leisure services and cyclical stocks is still lack of heat.

Where does A-share sentiment reach? How to grasp the short-term market style?

At present, after more than three months of shock, the Prev has regained 3000 points, opening up the imagination of the July market for investors. After the extreme interpretation of the pre-consumption and technology style, the market is coincidentally looking for a margin of safety to the other extreme "value blue chip" of valuation, and it is expected that under the "fundamental improvement catalysis + liquidity easing + style rebalance", after short-term consolidation, low-valued big finance and cycle leaders may continue to rise, and appropriate attention can be paid to balance configuration in response to potential switching. In the medium to long term, it remains to be seen that the economy has turned into a "strong recovery", while the recovery process of demand for large consumption and the upward trend of the emerging technology boom have not changed, and there is still room for deterministic premiums in the medium term. adhere to the bargain-seeking layout of the main market is still a good choice.

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