According to the Huatai Securities Research Report, the overall contraction of A-shares pulled back last week, and the general market growth style represented by the GEM index rebounded slightly. Overseas macroeconomic uncertainty has kept trading activity at a relatively low level, and capital has been concentrated in a relatively sufficient direction to clear out transactional chips such as AI hardware. Over the weekend, the US inflation data for August heated up more than expected, and expectations for the September rate hike were close to full pricing. At the same time, the risk premium for A-shares has also reached a high level. With the FOMC meeting this week, in the short term, the winning rate and odds of A-shares have increased, which can moderately increase trading positions. In the medium term, upstream price increases and investment returns drive interim results that exceed expectations. K-type differentiation also shows signs of convergence, but continued testing is pending, and allotment positions still need to pay attention to potential bottom-inflection points. In summary, the short-term offensive side focuses on optical communications, PCB, CXO, etc.; in the medium term, it focuses on the paper chain, some chemicals, etc.; dividends are still the bottom line.

According to the Huatai Securities Research Report, the overall contraction of A-shares pulled back last week, and the general market growth style represented by the GEM index rebounded slightly. Overseas macroeconomic uncertainty has kept trading activity at a relatively low level, and capital has been concentrated in a relatively sufficient direction to clear out transactional chips such as AI hardware. Over the weekend, the US inflation data for August heated up more than expected, and expectations for the September rate hike were close to full pricing. At the same time, the risk premium for A-shares has also reached a high level. With the FOMC meeting this week, in the short term, the winning rate and odds of A-shares have increased, which can moderately increase trading positions. In the medium term, upstream price increases and investment returns drive interim results that exceed expectations. K-type differentiation also shows signs of convergence, but continued testing is pending, and allotment positions still need to pay attention to potential bottom-inflection points. In summary, the short-term offensive side focuses on optical communications, PCB, CXO, etc.; in the medium term, it focuses on the paper chain, some chemicals, etc.; dividends are still the bottom line.