Special topic: the dividend market is expected to last for a long time, but we should be on guard against short-term pullbacks.

The market rebounded again in shock on FridayNvgpokerThe industries of real estate, insurance, chemical fiber, warehousing and logistics, hotel catering, agriculture, forestry, animal husbandry and fishing, daily chemical industry, aviation, comprehensive category, business agents, software services, securities, wine making, food and beverage, chemical industry were active, while shipbuilding, construction machinery, household appliances, communications equipment, non-ferrous materials, media and entertainment, textile and clothing, coal, electrical equipment, IT equipment and other industries showed a pullback. In terms of theme plate, low-altitude economy, space-time big data, carbon fiber, PEEK materials, electronic paper, security services, Huawei computing, military information, drones, large aircraft, intelligent transportation themes showed rotation, while aquatic products, cloud games, knowledge payment, ST plate, scarce resources, short drama games, vitamins, phosphorus concepts, Belt and Road Initiative and other themes showed weakness. By the end of the day, the Prev was up 1.Nvgpoker.01% to close at 3154NvgpokerAt 03:00, the Shenzhen Composite Index rose 1.10% to close at 9709.42 points, while the gem rose 1.12% to close at 1864.94 points.

From the point of view of the main capital flow of the two markets, by the close, there was a small net outflow of the main funds in Shanghai and Shenzhen.NvgpokerThe total outflow from the two cities is 4.8971 billion yuan. Of these, the large single net inflow was 217031 yuan, the large single net outflow was 7.0674 billion yuan, the medium single net outflow was 8.64077 billion yuan, and the small single net inflow was 13.53786 billion yuan.

Judging from the capital flow direction of the industry plate of the two cities, the real estate industry received a net inflow of 1.497 billion of the main capital, the insurance sector received a net inflow of 1.079 billion of the main capital, the optical optoelectronics plate received a net inflow of 844 million of the main capital, and the wine plate received a net inflow of 722 million of the main funds. the decoration building materials plate has a net inflow of 719 million.

From the point of view of the capital flow of individual stocks in the market, the top 10 net inflows of main funds are as follows:

Judging from the main capital flow of individual stocks in the two cities, Ping an of China received a net inflow of 942 million of the main capital, Zongshen Power received a net inflow of 781 million of the main capital, Selis received a net inflow of 756 million of the main capital, Vanke A received a net inflow of 559 million of the main capital, and Wuliangye received a net inflow of 331 million of the main capital.

Overall, the market showed a shock rebound, intraday industry in the two cities to reproduce local rotation. Recently, the market continues to fluctuate and adjust, with large differences in short-term funds. From the point of view of the market, the industries of the two cities continue to show differentiation and rotation, and the hot spots in the market are rising one after another, highlighting the structural characteristics of the market. At present, the market as a whole is in a phased repair stage, short-term upward weakness and limited downside space, the stock index interval horizontal volatility adjustment probability is larger. However, recent market sentiment has been more stable, with fewer short-term disruptions, and the Fed's dovish comments have boosted market sentiment. In terms of policy, the management's macro-control of the real estate industry contributes to the recovery of the real estate industry and the stabilization of the economy. With the continuous increase of follow-up economic policies and the issuance of ultra-long-term treasury bonds, economic fundamentals are expected to continue to improve and recover. Therefore, investors do not need to worry too much about short-term market fluctuations, but can lay out pro-cyclical industries and big consumption themes under the expectation of economic recovery in the medium and long term, and continue to pay attention to low-altitude economy, artificial intelligence and intelligent machines under new quality productivity in the short term. focus on non-bank finance, new energy track opportunities.

(author: Zhu Hualei practice Certificate: A0680613030001)