Jingu Finance News | Star network technology stocks across the board fell back, with Bilibili (09626) down 14.76%, Ali Health (00241) down 13.44%, JD Health (06618) down 12.34%, Meituan (03690) down 9.47%, Ctrip Group (09961) down 8.81%, JD Group (09618) down 8.16%, Baidu Group (09888) down 7.39%, Netease (09999) down 6.64%, Alibaba (09988) down 5.93%, Tencent (00700) down 5.35%.

CITIC Securities stated that the combination of policies has significantly improved market sentiment. The bank believes that the technology industry is an investment sector with both offensive and defensive capabilities in the future: 1) With the expectation of policy improvement, the technology sector has strong valuation flexibility; 2) Policies related to data industry are gradually being implemented, which is expected to boost the performance flexibility and revenue expectations of AI-related companies in the future; 3) The technology sector benefits in the long term from the productivity improvement driven by AI. The successful experience of the U.S. data intelligence industry chain is worth learning from in China, opening up the TAM space; 4) The expectation of Fed interest rate cuts will help improve liquidity and valuation of global software, internet, and other industries.