Sino-Singapore Jingwei Client, July 27. On Tuesday, the Shanghai Stock Exchange Index closed down 2.49% and fell below 3,400 points, and the ChiNext Index fell more than 4%; chip stocks rose and fell, and popular sectors such as photovoltaics and lithium batteries pulled back sharply; high volume transactions in the two markets exceeded 1.5 Trillion yuan, a new high this year.

　　Source: Flush iFinD

　　As of the close, the Shanghai stock index fell 2.49% to 3,381.18 points.

The Shenzhen Component Index fell 3.67% to 14,093.64 points.

The GEM index fell 4.11% to 3,232.84 points.

　　On the disk, only communications equipment, IT equipment, petroleum, and software services were popular; cultural, educational, leisure, wine, mineral products, non-ferrous metals, and electrical equipment fell the most.

　　Liquor stocks continued to fall on the 27th, closing down 3.87%. Among them, Shuijingfang fell by the limit, Chongqing Beer fell more than 8%, Wuliangye, Bairun shares fell more than 7%, Kweichow Moutai fell 5.06%; Shanxi Fenjiu bucked the market and rose slightly.

　　The semiconductor sector fell slightly by 0.06%. Among them, SMIC, VeriSilicon-U, Lihe Micro, etc. rose by the daily limit; Zhonghuan, Espressif Technology, Absen and others fell by the limit.

　　The concept sector is also mostly green, only the CRO concept, 5G concept, and automotive electronics rose; salt lake lithium extraction, titanium metal, cobalt metal, BIPV concept, and organic silicon fell in the lead.

　　The concept of lithium extraction in Salt Lake fell more than 6%, and 6 stocks including Tibet Urban Investment, Kodak Manufacturing, Tibet Mining, and *ST Zhaoxin fell by their limit.

　　The top five stocks with turnover rate are: Heda Technology, Shijing Technology, Xianheng International, Rongzhi Rixin, and Maipu Medical, which are 71.016%, 54.545%, 51.261%, 50.322%, and 46.605%, respectively.

　　Bohai Securities Research Report believes that from the current valuation level of A-shares, the current price-to-book ratio is near the historical average, there is no obvious bubble, and the monetary policy is relatively stable at this stage, there is no unilateral tightening expectation, and there is no systematic downside risk. It's not big.

Taking into account that the performance of listed companies in the third quarter still has a certain degree of resilience, the judgment of the volatile market is maintained, and structural opportunities in the market still exist.

　　CICC believes that looking forward, the growth style will still be the main opportunity for the market. Although the market has always questioned valuations, the growth style with high relative prosperity, large growth potential, and continued industrial cycles may be The main line of the market.

The market pays more attention to the intensity and direction of policy intervention, and the policy certainty of the technology industry chain related to "hard technology" is also becoming an important factor in attracting investors.

In the second half of the year, market volatility may increase, and even within the growth style, there will be obvious rotations.

(Zhongxin Jingwei APP)

(The opinions in the article are for reference only and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)