megapayout| Boshi Fund: Blue chips in the market performed strongly, and style differentiation intensified

Last week (4)Megapayout.15,4Megapayout.19) wide market volatilityMegapayoutThe Shanghai Composite Index rose 1.52%, the Shenzhen Composite Index rose 0.56%, and the gem Index fell 0.39%. There is a significant differentiation between large and small market styles, dividend performance is once again dominant, low-level economy and other themes also have a better performance. In the new "National Nine articles"MegapayoutDriven by the strong performance of blue chips in the market, CSI 300 performed best in the broad base index, up 1.89% throughout the week, while small and medium-sized subject stocks fluctuated sharply on Monday and Tuesday, which rebounded sharply on Wednesday. CSI 1000 and CSI 2000 fell 1.39% and 5.54% respectively throughout the week. In Citic's first-tier industry, home appliances, banking, construction, non-bank and coal led the rise, while media, trade and retail and consumer services fell sharply. From the point of view of the net inflow of ETF funds, high dividend categories such as dividend low-wave ETF, dividend ETF and so on have been strengthened.

Last week, the A-share market showed a volatile trend, the differentiation of the style further expanded, the dividend style rose for five consecutive trading days, and the defensive demand for funds increased, which also confirmed a short-term decline in investors' risk appetite. On the other hand, the small-cap and micro-disk style correction continues, although the micro-disk index rebounded sharply on Wednesday, but failed to recover the pullback of the previous two trading days, the differentiation between large and small is still one of the main contradictions in the market. At present, it is a period of intensive disclosure of annual and quarterly reports, the proportion of fundamental transactions is gradually increasing, and the performance of growth and quality factors is expected to continue to pick up. Considering that the current short-term differentiation between growth and value style is also extreme, the possibility of strength switching is not ruled out in the follow-up, it is recommended to continue to pay attention to the performance of fundamental factors during the financial data window.