China's three major A-share indices opened higher collectively. The Shanghai Composite Index rose by 0.15%, while the ChiNext Index also gained 0.15%. In terms of sector performance, the metals sector showed strong activity, with stocks like Hunan Silver and Baiyin Nonferrous Group Co.,Ltd. rising over 2%. Conversely, AI application and cinema chain sectors were among the top decliners.
Regarding the market outlook, one securities firm maintains its judgment that the market will challenge the 4200-point level, suggesting that the computing power industry chain and power infrastructure remain areas worthy of attention. They indicated that, in the short term, A-shares have already released some risks after adjusting in line with overseas assets before the holiday. Intensive catalysts from domestic macro and industrial levels are expected to emerge successively, providing upward guidance for related sectors.
Another securities firm anticipates that market trading activity will continue to recover, and the previous range-bound pattern is expected to be gradually broken. They noted that funds withdrawn for the holiday are likely to gradually return to the market. Short-term market sentiment may continue to improve, enhancing the profitability effect. The medium-term market trend is expected to gradually break the pre-holiday consolidation pattern, ushering in a new round of spring rally. Market hotspots might follow a logic of short-term "catch-up and profit-taking" before positioning for medium-term main themes. From a medium-term perspective, technology main themes such as humanoid robots, commercial aerospace, and autonomous driving, which are entering a phase of mass production explosion this year, may garner greater market consensus. Particularly after the popularity of humanoid robots during the Spring Festival Gala, their actual sales have increased significantly, and they are expected to usher in new opportunities as valuations gradually solidify.
A further securities firm expressed that A-shares have entered a range with allocation value, recommending a focus on sectors such as high-dividend stocks and power equipment. They cited historical data showing that A-shares often experience a high-probability rising window after the Spring Festival, combined with policy expectations ahead of the "Two Sessions," significantly increasing the likelihood of index gains. Current intensive domestic and international technological catalysts, along with approaching macro policy benefits like the "Two Sessions" and the "15th Five-Year Plan," collectively support A-shares entering a range with configuration value. In terms of sector selection, it is advised to focus on high-dividend, TMT, and power equipment sectors.
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