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一、5月份市场回顾5月份,积弱已久的A股市场未能延续反弹势头,上证指数月终报收于3433.35点,跌幅达到7.03%,沪深两市累计成交量基本与上月持平(参见图1)。政策面的利好没有能够持续地提振投资者信心,毕竟基本面因素尚难与政策面因素形成良性共振。5月份公布的最新经济数据表明,通胀压力仍然未能得到有效的平抑,4月份CPI同比上涨8.5%,比上月上升0.2个百分点,略高于市场的预期;
First, the market review in May May, the weakened A-share market failed to continue the rally, the Shanghai Composite Index closed at 3,433.35 points in the final index, down 7.03%, the cumulative volume in Shanghai and Shenzhen basically the same as last month (See Figure 1). The positive side of the policy does not continue to boost investor confidence, after all, fundamentals are still difficult to form a virtuous resonance with the policy factors. The latest economic data released in May showed that inflationary pressure still failed to be effectively stabilized. CPI rose 8.5% in April from a year earlier, up 0.2 percentage points from the previous month, slightly higher than market expectations.