策略周报：A股关键指数点位博弈将是市场核心关注点

Group 1: A-share Market Overview - The A-share market experienced an overall adjustment, with major indices generally declining. The Sci-Tech 50, Sci-Tech Innovation 50, and Growth Index showed performances of 0.55%, -0.54%, and -0.74% respectively, while the Guozheng 2000, Shanghai 380, and Zhongzheng 1000 lagged behind with performances of -2.14%, -2.25%, and -2.42% respectively [34][35]. - The top five performing sectors in the Shenwan first-level industry were Electronics (1.86%), Communications (1.28%), Building Decoration (0.52%), Oil and Petrochemicals (0.36%), and Automotive (0.34%). Conversely, the sectors with the largest declines were Real Estate (-5.76%), Retail (-5.16%), Media (-5.12%), Food and Beverage (-5.01%), and Comprehensive (-4.46%) [34][35]. Group 2: Capital Flow Overview - The net inflow of capital from the northbound trading was -16.115 billion yuan for the week, with the top three net inflow stocks being Sairis (1.164 billion yuan), Luxshare Precision (0.692 billion yuan), and Lingyi Technology (0.535 billion yuan) [38]. - Margin trading showed a net inflow of 3.169 billion yuan, with a total margin balance of 1,508.579 billion yuan. The Electronics sector led with a net inflow of 1.562 billion yuan, followed by Computers (0.857 billion yuan) and Automotive (0.790 billion yuan) [43][52]. Group 3: Real Estate Sector Analysis - The real estate sector is still in an adjustment phase, with the average sales price of second-hand residential properties in first-tier cities declining by 9.3% year-on-year, an increase of 0.8 percentage points from the previous month. The declines in Beijing, Shanghai, Guangzhou, and Shenzhen were 8.6%, 7.9%, 11.4%, and 9.2% respectively [56]. - The inventory of unsold residential properties reached a historical high, with a de-stocking cycle of 8.7 months based on the average sales speed over the past 12 months [70][71]. Group 4: Global Economic Events Overview - The U.S. Markit PMI preliminary data for June was better than expected, indicating a slight recovery in service sector activity, reaching the fastest growth rate in over two years. This reflects resilience in overall business activity as the second quarter comes to a close [28][30]. - In Europe, electric vehicle sales in May saw a year-on-year decline of 12%, with Germany's sales dropping by 30%, indicating challenges in the EV market [25].