A-shares Opening Express | Shanghai Composite Index fell 0.15%, semiconductor industry chain continues to be active

On March 28th, the market opened with narrow fluctuations. By 9:42, the Shanghai Composite Index had fallen by 0.15%, the Shenzhen Component Index had fallen by 0.03%, and the ChiNext Index had fallen by 0.06%. In terms of the market, concepts such as lithography machines and semiconductor technology continued to be active. PNC Process Systems and Hunan Kaimeite Gases hit the limit up. The computing power sector rebounded, with Dawei Technology (Guangdong) Group hitting the limit up. Photovoltaic concept stocks surged, with Inner Mongolia OJing Science & Technology hitting the limit up. On the downside, the industrial metals sector fell in the short term, with Tibet Huayu Mining falling by over 6%. The chemical industry sector saw a pullback, with major consumer sectors leading the decline. Looking ahead, EB SECURITIES pointed out that market sentiment continues to stabilize and recover. It is expected to gradually rebound in the future. However, considering the low trading volume, the market may mainly see structural market movements. Hot sectors: 1. Active Semiconductor Sector Lithography machines, semiconductors, and other autonomous controllable technology concepts continued to be active. PNC Process Systems, Hunan Kaimeite Gases hit the limit up, while Kunshan Kinglai Hygienic Materials, THEC, Qingdao Guolin Technology Group, Shanghai Highly, Shenyang Blue Silver Industry Automation Equipment, Shanghai Pret Composites, and Changzhou Tronly New Electronic Materials followed the trend. Comment: Recently, Xin Kai attended the Shanghai International Semiconductor Exhibition, showcasing several upcoming products, including the development of six categories of semiconductor process and measurement equipment. CITIC SEC believes that domestic investment and support for the lithography machine industry chain continue to increase, and the development of domestic high-end lithography machines is expected to be promoted, benefiting the semiconductor equipment industry chain synchronously. 2. Computing power sector rebounds The computing power sector rebounded, with Dawei Technology (Guangdong) Group hitting the limit up, and Guangdong Aofei Data Technology, Range Intelligent Computing Technology Group, Beijing Topnew Info&Tech, Beijing Sinnet Technology, and Shanghai CDXJ Digital Technology following the trend. Comment: Recently, Shanghai proposed that by 2027, the city's smart computing industry scale should strive to exceed 200 billion yuan, and the basic formation of an ecosystem with cloud-edge synergy and complete industrial chain. Galaxy Securities believes that with the overall growth in demand for computing power, the current segments related to computing power still have significant investment value, and it is recommended to select subdivisions with ample room for growth and sufficient momentum. Institutional views: 1. Zhongtai: How will the market style evolve in April? Zhongtai pointed out that for the stock market, the key contradiction in the market after the two sessions is whether the switch between highs and lows has been fully anticipated by the market, and the sustainability of funds. In the short term, as speculation intensifies, the market may fluctuate widely at high levels and then enter a correction after the rotation of industries accelerates. Therefore, the current investment strategy still recommends maintaining a "high-low switch" mindset, avoiding smaller and medium-sized technology stocks driven by high leverage and high valuations, focusing on assets in the security sector such as colored metals, military industry, and nuclear power brought about by the expansion of European manufacturing, as well as defensive assets such as dividend stocks and bonds. 2. Zheshang: Market diffusion meets resistance, do not be aggressive, wait for the right opportunity Zheshang pointed out that looking ahead, as mainstream indices did not continue their breakthrough momentum, the expected rotation of sectors from technology to finance and consumption has not materialized, increasing the probability of market fluctuations. We predict that mainstream indices with lower previous gains are likely to enter a range-bound consolidation phase, while growth indices and technology sectors with higher previous gains may exhibit greater volatility compared to mainstream indices. It is recommended that investors remain cautious and not be aggressive, and increase investment only after the market stabilizes. In terms of industries, it is recommended to continue following the "high switch low" principle, switching to sectors such as major finance, major consumption, and dividends that have relatively lower previous gains during the rebound process of growth indices and technology sectors. 3. EB SECURITIES: Market sentiment continues to stabilize and recover, gradual rebound expected EB SECURITIES pointed out that in the recent period, market sentiment has cooled down, with trading volume remaining low and internal funds being the main players, leading to rotational differentiation of hot spots. Looking ahead, market sentiment continues to stabilize and recover, with a gradual rebound expected in the future. However, considering the low trading volume, the market may mainly see structural market movements.