Judging from the overall monthly performance, the A-share market as a whole showed a pattern of “dividends prevail, technology recouped”. Among Shenwan's 31 tier-1 industries, coal led the way with a monthly increase of 14.29%, while petroleum and petrochemical, banking, food and beverage, beauty care, agriculture, forestry, animal husbandry and fishing, transportation, trade and retail, household appliances, pharmaceutics, etc., saw adjustments in the electronics, communications and other technology sectors, which had a large increase in the early period. Looking ahead to the A-share market in August, Yang Chao, chief strategy analyst at China Galaxy Securities, issued an opinion that with the concentrated release of market panic in July, capital is shifting from the ultimate AI circuit to the defensive sector. The market focus in August may focus on double verification of policy and performance, showing a weak and volatile upward trend. After the AI-related sector experienced a pullback, market differences were difficult to settle in the short term, so it is recommended to adopt a dumbbell strategy. Currently, the trend in the AI industry has not been reversed, but the market will shift from general growth to relying on performance screening. Funding may be more cautious. It is recommended to select relevant sectors with continuous profitability, strong performance certainty, and sustainable prosperity advantages. At the same time, as technology chips are cleared, the market style may shift from being dominated by growth style to style rebalancing, and dividend assets still have high allocation value.

Judging from the overall monthly performance, the A-share market as a whole showed a pattern of “dividends prevail, technology recouped”. Among Shenwan's 31 tier-1 industries, coal led the way with a monthly increase of 14.29%, while petroleum and petrochemical, banking, food and beverage, beauty care, agriculture, forestry, animal husbandry and fishing, transportation, trade and retail, household appliances, pharmaceutics, etc., saw adjustments in the electronics, communications and other technology sectors, which had a large increase in the early period. Looking ahead to the A-share market in August, Yang Chao, chief strategy analyst at China Galaxy Securities, issued an opinion that with the concentrated release of market panic in July, capital is shifting from the ultimate AI circuit to the defensive sector. The market focus in August may focus on double verification of policy and performance, showing a weak and volatile upward trend. After the AI-related sector experienced a pullback, market differences were difficult to settle in the short term, so it is recommended to adopt a dumbbell strategy. Currently, the trend in the AI industry has not been reversed, but the market will shift from general growth to relying on performance screening. Funding may be more cautious. It is recommended to select relevant sectors with continuous profitability, strong performance certainty, and sustainable prosperity advantages. At the same time, as technology chips are cleared, the market style may shift from being dominated by growth style to style rebalancing, and dividend assets still have high allocation value.