A-share market review | Shanghai Composite Index rises for seven consecutive days! Several Shanghai and Shenzhen 300 ETFs all show strong trading volume, with the consumer sector remaining active.

Today, the market hit bottom and rebounded, with the three major indices rising at the end of the day. Multiple Shanghai and Shenzhen 300 ETFs collectively saw a surge in trading volume, with the Shanghai Composite Index turning positive and achieving a seven-day consecutive increase; the Shenzhen Component Index and the ChiNext Index performed weaker. Market turnover continued to maintain low levels in the near term, with over 4,300 stocks falling in both markets. On the market, the banking sector rose against the trend, with stocks like Agricultural Bank Of China and China Construction Bank Corporation hitting historical highs during the day; consumer goods, such as food stocks, hit bottom and rose, with stocks like Tianjin Guifaxiang 18th Street Mahua Food and Anji Foodstuff hitting the daily limit in the afternoon; tourism stocks rose, with Jinling Hotel Corporation hitting the daily limit; logistics and port-related stocks briefly surged, with multiple stocks like CTS International Logistics Corporation and Nanjing Port hitting the daily limit; new stocks were active, with Dongguan Changlian New Materials Technology rising by 20%. On the downside, the AI industry chain declined, with Foxconn Industrial Internet dropping by nearly 5%, and the agriculture, automotive, and consumer electronics industries leading the decline. Looking ahead, EB Securities believes that as market turnover continues to shrink in recent days, without new major stimulus, the market may continue to shrink. Structural market trends and style rotations may continue. In terms of individual stocks, 1,010 stocks rose in the two markets, with 4,314 falling, and 87 remaining unchanged. There were 54 stocks hitting the daily limit and 16 stocks hitting the limit down. At the close, the Shanghai Composite Index rose by 0.26% to 3,276.00 points, with a turnover of 489.2 billion yuan; the Shenzhen Component Index fell by 0.85% to 9,774.73 points, with a turnover of 620.6 billion yuan. The ChiNext Index fell by 1.21% to 1,907.11 points. Capital Flow Today, the main capital focused on seizing opportunities in sectors such as shipping ports, aviation equipment, and hotel catering. The top stocks with major net inflows included Greatoo Intelligent Equipment Inc., Jiangsu Lianyungang Port, and Cambricon Technologies. Headline Review 1. The local development and reform commission issued a notice on the survey of computing power, involving projects that have been built, under construction, and planned. According to multiple industry sources confirmed by Caixin journalist, a notice on implementing "window guidance" for computing power infrastructure has been issued recently, and this week many places will issue notices on starting the survey of computing power. The notice issued by the local development and reform commission on the survey of computing power involves projects that have been built, under construction, and planned computing power centers. The survey data will serve as an important basis for coordinated national computing power resource planning. 2. National Bureau of Statistics: GDP in the first quarter increased by 5.4% year-on-year The National Bureau of Statistics released data on April 16, showing that the GDP in the first quarter was 31.8758 trillion yuan, with a year-on-year growth of 5.4% when calculated at constant prices. Compared to the previous year's fourth quarter, it grew by 1.2%. In terms of industries, the value added of the primary industry was 1.1713 trillion yuan, an increase of 3.5% year-on-year; the value added of the secondary industry was 11.1903 trillion yuan, an increase of 5.9%; the value added of the tertiary industry was 19.5142 trillion yuan, an increase of 5.3%. 3. The Ministry of Commerce and 9 other departments jointly issued the "Action Plan for Improving and Benefiting Service Consumption by 2025". Recently, the Ministry of Commerce and 9 other departments jointly issued the "Action Plan for Improving and Benefiting Service Consumption by 2025". The "Action Plan" focuses on strengthening policy support, carrying out promotional activities, building platform carriers, expanding opening up, strengthening standards, and optimizing the consumption environment in six aspects. It proposes 48 specific tasks and measures, covering major industry sectors such as catering, accommodation, health, culture and entertainment, tourism, sports events, as well as new formats and scenarios such as tourism trains, aerial tours, skydiving, ultra-high-definition television, and micro-dramas. The "Action Plan" emphasizes coordinated domestic and international circulation, adhering to the dual approach of supply and demand, supporting the expansion of quality service supply through opening up and relaxation. At the same time, it focuses on problem-oriented issues, focusing on issues of public concern such as the elderly and children, and formulating targeted policies and measures to support family services, elderly care, childcare, health consumption, etc., to better meet the growing demand for quality life of the people. Market Outlook 1. Shenwan Hongyuan Group: Tactically bottoming out, strategically optimistic Shenwan Hongyuan Group believes that looking ahead, short-term oversold rebounds will still need to bottom out later on. Policy hedging is necessary next, and the main consensus that can rally the market still needs to wait, the timing for market turning offense has not yet arrived. With long-term funds absorbing bearish chips and accelerating the clearing of bearish expectations, the negative cycle problem of A-shares has been basically eliminated, and the subsequent bottoming process also seems to be at a low point. In terms of allocation, during the bottoming phase, counter-attack assets, hedging assets, and defensive assets are still preferred. In the medium term, the resumption of an upward trend in A-shares is likely to be conditional on the re-aggregation of consensus around trends in the technology industry. In the medium term, they continue to recommend domestic AI computing power and applications, smart devices, and low-altitude economy. 2. EB SECURITIES: Structural market trends and style rotations may continue EB SECURITIES believes that after the market rebounded continuously for five trading days, some bottom-fishing profit-taking exits on Tuesday led to a noticeable adjustment in strong sectors recently, dragging down the entire market. Looking ahead, as market turnover continues to shrink in recent days, without new major stimulus, the market may continue to shrink, and structural market trends and style rotations may persist. 3. Orient: The short-term bottom of A-shares has been formed Orient believes that overall, the short-term bottom of A-shares has been formed. In a scenario of reduced volume and volatility, trading opportunities focusing on internal circulation concepts and technology themes are key. In the medium term.Come and see, with policy support and industrial upgrading driving, fields such as AI and semiconductors have development potential. Medium to long-term investors can continue to focus on the technology sector.This article is reproduced from "Tencent Self-selected Stocks", edited by GMTEight: Liu Jiayin.