diff --git a/app/services/tech_service.py b/app/services/tech_service.py
index 10b04f2..c9164b4 100644
--- a/app/services/tech_service.py
+++ b/app/services/tech_service.py
@@ -30,7 +30,7 @@ logger = logging.getLogger("pms.tech")
 MAP_KEY = "PMS_TECH_STATE_MAP"
 FRESH_DAYS = 3                     # 映射超过这么多自然日没刷新就当没读数 (调度断了不拿旧态拦人)
 DEFAULT_PATH = "/api/v1/market/technical"
-PAGE_SIZE = 1500                   # 分页每页条数 (全市场约 5000, 三四页取完)
+PAGE_SIZE = 1000                   # 分页每页条数 (接口 limit 上限实测 1000, 设成一样避免误判最后一页)
 MAX_PAGES = 20                     # 防呆: 分页硬上限
 
 
@@ -187,9 +187,14 @@ def fetch_all_pages(*, base=None, path=None, timeout=None, page_size=PAGE_SIZE,
         pages += 1
         got = len(items)
         offset += got
-        if got < page_size:                 # 最后一页
+        if got == 0:                          # 空页, 到底了
             break
-        if matched and offset >= matched:    # 够了 (服务端若忽略 limit 也在这里收住)
+        if matched is not None and offset >= matched:   # 拉够 matched 只
+            break
+        # 不能用 got < page_size 判最后一页: 接口 limit 上限可能小于 page_size, 那样每页都返回
+        # 上限条数、got 恒小于 page_size, 第一页就误判成最后一页 (2026-09-11 真机: 上限 1000、
+        # matched 4991, 旧逻辑只落了 1000/4991)。matched 缺失时才退回用 got 判, 另有 MAX_PAGES 兜底。
+        if matched is None and got < page_size:
             break
     return {"status": "OK", "data_date": data_date, "algo_version": algo,
             "rows": rows, "pages": pages, "total": len(rows), "matched": matched}
diff --git a/scripts/test_batch27_units.py b/scripts/test_batch27_units.py
index af57b68..fd632f9 100644
--- a/scripts/test_batch27_units.py
+++ b/scripts/test_batch27_units.py
@@ -219,6 +219,19 @@ def test_fetch_pages():
         pass
 
 
+@case("C fetch_all_pages: 接口每页上限小于页大小时按 matched 拉完多页（2026-09-11 真机抓到）")
+def test_fetch_pages_capped():
+    # 接口每页最多给 2 条（上限），page_size 传 5，matched 5 → 要拉 3 页 (2+2+1)，不能第一页就停
+    def f(url, params, timeout):
+        off = params["offset"]
+        n = min(2, max(0, 5 - off))
+        items = [{"stock_code": "SH60000%d" % (off + i), "sar": {"side": "多"},
+                  "reanchored": True, "quality": "OK", "boll": {"pos": 0.5}} for i in range(n)]
+        return {"status": "OK", "data_date": 20260910, "matched": 5, "items": items}
+    got = ts.fetch_all_pages(base="x", path="/y", timeout=5, page_size=5, fetch=f)
+    assert got["total"] == 5 and got["pages"] == 3, got
+
+
 # ================================================================ D 映射
 @case("D build_map: 正常合成, 只覆盖有当天读数的相关票")
 def test_build_map_ok():