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Today, A-shares fluctuated slightly, and major stock indexes rose and fell. The blue-chip stocks that had been rising continuously in the previous period retreated overall. The Shanghai Composite 50 and CSI 300 indexes both fell by more than 1% during the session. Technology growth stocks performed actively, and the Science and Technology Innovation 50 Index rose against the trend. The two markets traded 661.3 billion yuan.

On the market, public transportation, quantum technology, smart government affairs, and information technology innovation sectors led the gains, while oil, brewing, banking, and chemical fiber sectors led the losses.

Screenshot from: Wind

Wind's real-time monitoring data shows that the automobile and computer industries both received a net inflow of nearly 2 billion yuan in main funds, and the transportation, power equipment, pharmaceutical and biological, defense and military industries also received a net inflow of over 100 million yuan. Food and beverage, banks had a net outflow of over 1 billion yuan, and public utilities, non-ferrous metals, etc. also had a net outflow of over 100 million yuan.

Looking ahead to the future market, Guotai Junan pointed out that the operation of the stock market has both support and constraints, the stock index is mainly volatile, and when there is an adjustment, it will be deployed in the opposite direction.

The overall market risk appetite has decreased, and the aesthetic taste has shifted to companies that have products, orders, performance and reasonable valuations, rather than storytelling companies.

The key to stock style is not growth or value, but blue chips and non-blue chips. The main investment line is still technology blue chips and large-cap value.

Western Securities believes that the market may be volatile in the short term, and it is necessary to maintain a "safe" mindset and continue to adopt an offensive and defensive strategy. On the one hand, it is about security in configuration, focusing on low prices and oversold logic based on high dividends and low risk preferences; on the other hand, it is about focusing on independent control.

There is no need to overestimate the expectations of the Fed's interest rate cut. The short-term differentiation trend of high dividends may continue. The second quarter report of the fund reflects that more chips are concentrated in the electronics sector.

In terms of hot spots, technology stocks rose across the board, with sectors such as quantum technology, domestic software, Huawei Hongmeng, and information security all rising by more than 2%.

National Technical, Jiayuan Technology, Hengfeng Information, Anshuo Information and others hit the 20% daily limit, while Changshan Beiming, Oriental Zhongke, Geer Software and others also hit the daily limit in batches.

Recently, the Third Plenary Session of the 20th Central Committee of the Communist Party of China reviewed and passed the "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reforms and Promoting Chinese-style Modernization", which clearly proposed to promote revolutionary technological breakthroughs, innovative allocation of production factors, and deep transformation and upgrading of industries, promote the optimal combination and renewal of workers, labor materials, and labor objects, give birth to new industries, new models, and new momentum, and develop productivity characterized by high technology, high efficiency, and high quality.

The "Decision" also emphasizes strengthening innovation in key common technologies, cutting-edge leading technologies, modern engineering technologies, and disruptive technologies, strengthening the supply of systems in new fields and new tracks, establishing a mechanism for future industrial investment growth, and improving the development policies and governance systems for strategic industries such as new generation information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine, and quantum technology, to guide the healthy and orderly development of emerging industries.

Editor: Chen Lixiang

Proofreading: Liu Rongzhi