新报讯 在全球经济的下滑趋势中，A股市场也不容乐观，上证综指如今仍然在2200点下方挣扎，不知何时才是真正的“钻石底”。业内分析，下半年A股市场的整体趋势并不乐观，震荡筑底仍是主基调，投资者可在其中探索“结构性”机会。

New Chinese press-the decline in the global economy，The A share market is not optimistic，The Shanghai composite index at 2200 points below still struggling，I do not know when is the true“Diamond bottom”。The analysis，The second half of the A share market overall trend is not optimistic，The building is still shaken advocate fundamental key，Investors in which it can be explored“structural”opportunity。

　　沪指逼近“钻石底” HuZhi approximation“Diamond bottom”

　　上周大盘探底后有所回升，上证综指日K线在三连阳之后收出缩量小阴，最终未能突破2200点关口，周K线收出五连阴。随着周期股的企稳和消费股转弱，市场特征从深强沪弱转为沪强深弱。

Last week the grail agent after bounced，The Shanghai composite index K line, in three even after a small charge SuLiang Yang Yin，Eventually failed to break 2200 point pass，Weeks K line charge out of five even Yin。Along with the cycle of shares stabilising consumer stock and weaker，Market characteristics from weak to strong deep Shanghai Shanghai strong deep weak。

　　全周来看，上证综指波动幅度偏小，最高2197点，最低2138点，相差仅59点，波动幅度仅2.7%，可谓波澜不惊。上证综指的最低点2138点，步步逼近2132点的“钻石底”，深成指击穿9352点低点，创半年来新低。

All week watching，The Shanghai composite index for the small fluctuations，Top 2197 points，Minimum 2138 points，Differ only 59 points，Fluctuation of only 2.7%，Popped it。The Shanghai composite index low 2138 points，At every step of the approaching 2132 points“Diamond bottom”，Shenzhen composition index broke 9352 point low，And half a year to new lows。

　　业内分析，市场虽然在技术上存在着反弹要求，但在缺乏增量资金形成效应的制约下，场内存量资金只能继续在板块之间不断地来回“折腾”。而证监会对于降低市场成本关注由来已久。自今年6月1日起，证券交易所整体降低了A股市场交易收费标准，降幅为25%，未来，进一步降低交易手续费，降幅为20%。

The analysis，The market though technically rebound requirement exists，But in the absence of incremental capital formation effect under the control of，Stock funds can only be to continue in the field between plate back and forth constantly“Do STH over and over again”。And to reduce the cost of market on commission has a long history。Since this June 1，Stock exchange whole reduces the A share market transaction fee standards，Decreased by 25%，future，Further reduce transaction fees，Decreased by 20%。

　　证监会有关负责人表示，今年先后降低交易手续费和监管费，就是为了减轻投资者负担，提振投资者信心。

A head of the securities regulatory commission said，This year has lower transaction charges and supervision fee，In order to reduce the burden is investors，Boost investor confidence。

震荡筑底可能延续 Build the concussion may last

　　“目前市场处于政策向上和经济向下的较为复杂的环境中，短线股指反复震荡难免。”日信证券分析师吴煊认为，当前经济还没有形成稳定回升态势，经济困难可能还会持续一段时间，基本面的隐忧使投资者信心受到压制，股指震荡筑底的格局可能延续。但是伴随着稳增长成为当前政策主基调， A股资金面紧张的局面正逐步缓解。“政策面有保有压，国土部住建部重申各地严格执行楼市调控政策，地产板块将继续承压，市场则可能呈震荡筑底格局，可关注热点轮换促发的结构性行情。”

“The present market is upward and downward economic policy is a complex environment，Short term stock index is repeated shocks。”Th believe securities analysts WuXuan think，The current economic have not form a stable picks up trend，Economic difficulty may is likely to continue for some time，The basic worry that investor confidence suppressed，Build the pattern of the stock index shocks may continue。But with the steady growth in the current policy become advocate fundamental key， A shares on the financing side tense situation is gradually ease。“Policy side have keep pressure，Homeland JianBu reiterated that live all over the strict implementation of the property market adjustment and control policies，Real estate sector will continue to pressure，Market, it may be on the shock of building structure，Can be contributed to the structural focuses on hot rotation market。”

　　业内认为，对下半年A股市场的整体趋势并不乐观，而挖掘结构性投资机会成为下半年投资策略的主流。上投摩根表示，今年投资相对活跃，结构性机会较多，一些契合中国经济转型的成长股不断得到验证而脱颖而出，这些公司主要集中在品牌消费、医药、节能环保、建筑服务等细分行业。

The industry think，The second half of the A share market overall trend is not optimistic，And mining investment the chance to become the second half structural investment strategies of the mainstream。Drop Morgan said，This investment is active，Structural opportunity more，Some agree with China economic transformation of the growth stock constantly verified and stand out，The company mainly focus on brand consumption、medicine、Energy conservation and environmental protection、Building service industry segments。