At today's brokerage morning meeting, China Securities Co.,Ltd. believes that the progress of Siasun Robot&Automation continues to break through, and the short-term Technology growth main line may continue to dominate; HTSC points out to seize internal certainty clues in the medium term; CITIC SEC indicates to prioritize allocating to industry themes that performed outstandingly in the first quarter report.
On May 12, the Financial Association reported that last Friday the market fluctuated and adjusted, with the Chinext Price Index leading the decline. The transaction volume in the Shanghai and Shenzhen markets that day was 1.19 trillion, a decrease of 101.4 billion compared to the previous trading day. In terms of sectors, textiles, beauty care, Banks, and ST sectors rose the most, while Semiconductors, film and television, Zhishu AI, and Brain-computer Interface sectors saw the largest declines. By the close last Friday, the Shanghai Composite Index fell by 0.3%, the Shenzhen Component Index fell by 0.69%, and the Chinext Price Index fell by 0.87%.
At today's brokerage morning meeting, China Securities Co.,Ltd. believes that the progress of Siasun Robot&Automation continues to break through, and the short-term Technology growth main line may continue to dominate; HTSC points out to seize internal certainty clues in the medium term; CITIC SEC indicates to prioritize allocating to industry themes that performed outstandingly in the first quarter report.
China Securities Co.,Ltd.: Progress in Siasun Robot&Automation continues to break through, and the short-term Technology growth theme is likely to remain dominant.
China Securities Co.,Ltd. pointed out that after the auto show, the overall improvement in domestic demand brought by new supply and technological growth remains two clear investment lines for the Autos sector. Domestic demand is improving currently, while the latter relies on technological iteration, customer expansion, and a revised risk preference. Regarding Siasun Robot&Automation, expectations related to recent Tesla Orders continue to catalyze, maintaining the guidance for large-scale production within the year, currently possibly nearing the fixed-point production node, and the market is expected to enter a verification phase of 'removing the fake and keeping the true.'
HTSC: Grasping internal certainty clues in the medium term.
HTSC believes that the package policies stabilizing the market and expectations support risk preference; the inflation and export data in April show resilience. The short-term win rate is decent, but the odds are decreasing, likely dominated by structural trends. The progress of China-US trade negotiations is a key variable. Amid multiple external disturbances, the short-term strategy maintains a balance of dividends + Technology + domestic demand, while medium-term focuses on grasping internal certainty clues: 1) New public offering regulations may guide fund allocation closer to the benchmark, benefiting large-cap stocks and underrepresented financial and utility sectors in public offerings; 2) In the first quarterly report, the dual improvement of supply and demand in the military electronics, Small Metal, Wind Power Equipment, dairy products, etc., can be positioned at low prices.
CITIC SEC: It is recommended to prioritize allocations in industry themes that performed outstandingly in the first quarter report.
CITIC SEC pointed out that the risk appetite for funds has recovered, and discussions are centered around high prosperity industry themes and new concept themes, suggesting prioritizing allocation towards industries that performed outstandingly in the first quarter report. The market's emotional response to USA tariffs has already been quite significant, and as tariff negotiations between the USA and several countries gradually unfold, the market's risk appetite is recovering. Domestic policies to maintain the real estate market and stock market continue to be introduced, which consistently drags down market expectations. With the release of the first quarter reports concluded, the market enters a phase of heightened thematic enthusiasm.
From the thematic environment perspective, considering comprehensive liquidity indicators and market style characteristics, the market continues to lay out plans on high prosperity industry themes from the first quarter report, showing a stronger preference for new thematic concepts. Analyzing the catalysts, it is recommended to focus on domestic policies to stabilize the real estate market and stimulate consumption, the progress of the USA-China tariff negotiations, and changes in the global geopolitical landscape. Based on the market environment, catalysts, and comprehensive algo indicators, attention should be paid to four themes: the India-Pakistan conflict, Consumer Electronics, exoskeleton robots, and Brain-computer Interface.
