⊙记者 屈红燕 ○编辑 李剑锋

Reporter QuGongYan ○ ⊙ LiJianFeng editor

　　由于政策呵护意图明显、CPI下行符合预期，加之外围股市表现良好，两市A股的反弹行情继续深化，昨日上证综指收出日线“五连阳”。

Care due to the policy intentions clear、cpi downside meet expectations，Outside the stock market and good performance，Two city A shares continue to deepen the rallies，Yesterday the Shanghai composite index date line charge out“Five even Yang”。

　　昨日两市量涨价升。在酿酒食品、地产以及医药等行业的拉动下，中小盘股全面爆发。截至收盘，上证综指报收于2174.1点，上涨13.11点，涨幅为0.61%；深证成指报收于9337.54点，上涨126.87点，涨幅为1.38%。昨日两市共成交1359.3亿元，量能相比昨日小幅放大。大智慧(601519,股吧)超赢数据显示，昨日两市大盘资金净流入8.44亿元。

Two of the price rise yesterday。In wine food、Real estate and the incomes of medicine industry, etc，In pannikin comprehensive outbreaks。By the closing，At the Shanghai composite index to 2174.1，Rose 13.11 points，0.61% increase；ShenZheng at ChengZhi at 9337.54，Rose 126.87 points，1.38% increase。Yesterday, clinch a deal with two 135.93 billion yuan，Quantity can enlarge compared a small yesterday。wisdom(601519,Shares it)Super win data shows，Yesterday, two 844 million yuan net capital market。

　　两市A股昨日普涨，除去ST股共有31只个股涨停，酿酒食品、医药和地产等板块涨幅居前。酿酒食品板块整体上涨3.25%，酒鬼酒涨停，沱牌舍得(600702,股吧)上涨9.79%，水井坊(600779,股吧)、青青稞酒(002646,股吧)、老白干酒(600559,股吧)、莫高股份(600543,股吧)、伊力特(600197,股吧)和泸州老窖(000568,股吧)等个股涨幅均在5%以上；医药板块整体上涨2.54%，双成药业(002693,股吧)、振东制药(300158,股吧)涨停，海思科(002653,股吧)上涨9.22%，太极集团(600129,股吧)、天士力(600535,股吧)等8只个股涨幅在5%以上。

Two city A shares general goes up yesterday，Remove ST strands of 31 stocks only harden，Wine food、Medicine and real estate sectors such as or the first。Wine food plate overall rose 3.25%，Drunkard wine harden，TuoPai be willing to part with or use(600702,Shares it)Up 9.79%，ShuiJingFang(600779,Shares it)、Green of barley wine(002646,Shares it)、LaoBaiGan wine(600559,Shares it)、MoGao shares(600543,Shares it)、yilite(600197,Shares it)And luzhou old cellar(000568,Shares it)Individual stocks such as rose by more than 5%；Medicine plate overall rose 2.54%，Double into pharmaceutical(002693,Shares it)、Cooperates pharmaceutical(300158,Shares it)harden，The sea cisco(002653,Shares it)Up 9.22%，The tai chi group(600129,Shares it)、TianShiLi(600535,Shares it)8 individual stocks rose more than 5% in only。

　　CPI同比涨幅“破2”的消息提振了市场。昨日统计局公布了CPI和PPI数据，其中，7月CPI同比上涨1.8%。市场人士认为，CPI的下行符合市场预期，未来通胀压力不大，为货币政策留出较大的操作空间。

cpi increase year-on-year“Broken 2”The news cheered market。Yesterday the cpi to statistics data and PPI，Among them，July cpi rose 1.8% year-on-year。Market experts think，cpi downline according with market expectations，The future inflation pressure is not big，For monetary policy set aside larger operation space。

　　但也有观点认为，CPI“破2”只是昙花一现。安信证券表示，8月份原油价格的上调以及菜价涨价的滞后影响，或使得CPI低于2的黄金时期仅是昙花一现，预计8月份CPI在2.1%左右。平安证券首席策略分析师王韧认为，CPI在7月份“破2”的核心因素是翘尾原因，不排除4季度会继续上升。

But also with a view，cpi“Broken 2”Is just a flash in the pan。Access securities said，The increase in August crude oil prices and price of the lag of an influence，Or that the golden age of less than 2 cpi is only a flash in the pan，In August the cpi is expected to about 2.1%。Peace strategy WangRen analysts think securities chief，cpi in July“Broken 2”Is the core factor of QiaoWei reasons，Don't rule out the fourth quarter will continue to rise。

　　政策呵护的累积效应也不容忽视。自上周开始，监管部门密集发布相关政策信息并频繁表态。7月31日，证监会明确表示，目前市场的恐慌性下跌“并不理性”，明确呼吁投资者切勿盲目跟风；随后证监会又明确表示支持鼓励有条件的“破净”上市公司积极回购公司股份；8月2日，证监会宣布年内第三次下调证券市场交易与监管费。

The cumulative effect of care policy also nots allow to ignore。Since last week，Regulators issued by relevant policy information and dense frequent comment。July 31,，Securities regulatory commission made clear，The current market panic decline“Is not rational”，Clear call for investors do not blindly follow suit；Then CSRC and made it clear that support encourage conditional“Broken net”The listed company actively repurchase of shares in a company；August 2，Securities regulatory commission announced years the third securities market and regulatory deal cut costs。

　　分析人士认为，通胀下行、经济见底和政策呵护使得股市下行的风险不大。王韧表示，经济在二季度已经见底，并在随后两个季度出现小幅反弹，三季度GDP增速在7.8%左右，四季度会回到8%以上。

Analysts believe that，Inflation down、Economic see bottom and policies make stockmarkets downside risk of care is not big。WangRen said，In the second quarter, the economy has seen bottom，And during the next two quarters mild rebound，Third quarter GDP growth at around 7.8%，The fourth quarter will return to more than 8%。

　　但对于反弹的高度，王韧说，“目前不具备大幅反弹的条件，趋势性的机会还没有出现，原因在于流动性改善缓慢”。安信证券表示，当前市场下跌的基本动力来自两个方面：经济增速放缓背景下的企业盈利能力的下降；金融市场国际化和市场化的改革背景下的估值水平国际化和市场化。由于市场前期经历了长时间下跌，不排除8月份市场出现小幅反弹。

But for the bounce of the height，WangRen said，“Currently does not have the conditions of the rebound sharply，The result of the opportunities it has not appeared，Reason is that the liquidity improved slowly”。Access securities said，The current market decline the basic power from two aspects：Under the background of economic slowdown in the enterprise profitability declines；Financial market internationalization and marketization reform under the background of internationalization and the market valuation levels。Because the market the long decline，Don't rule out a recovery of the market to appear in August。