A-share midday review | GEM index rises more than 1% in half a day, technology sector strong, high-dividend sectors such as banks decline

On April 30th, the morning session of the A-share market showed differentiation, with the ChiNext Index leading the gains. Over 3800 stocks were in the green, with a half-day trading volume of 714 billion, higher than the previous trading day's 683 billion. By midday closing, the Shanghai Composite Index was down 0.08%, the Shenzhen Component Index was up 0.73%, and the ChiNext Index was up 1.01%. Caixin Securities stated that after the "May Day" holiday, following disturbances from overseas tariffs, domestic policy adjustments, and the release of annual and quarterly reports by listed companies, the market is expected to break out of its volatile pattern and enter a structural uptrend. In terms of market performance, there was rapid rotation of hotspots, with strength in the technology sector. Computing power, AI applications, AI glasses, and other sectors led the gains. Companies like Hongbo Co., Ltd. saw a 4-day streak of price increases. Siasun Robot & Automation concept stocks were strong, with Zhejiang Jinggong Integration Technology hitting the daily limit. Chip stocks rebounded, with Rockchip Electronics hitting the daily limit. The solar panel sector continued to rise, with Shanghai Aiko Solar Energy and Hongyuan Green Energy hitting the daily limit. Consumer stocks rose again, with multiple sectors like beauty, pets, and retail showing repeated activity. On the downside, high-dividend stocks fell, with banks leading the losses, as Hua Xia Bank dropped over 8%. Looking ahead, Galaxy Securities stated that a style switch might occur after the holiday, potentially bringing the market back to speculation on thematic stocks. In the midst of changes in fund structure, investors should be cautious of the risks posed by speculative stocks propelled by influxes of capital. Popular sectors 1. Consumer sector strength 2. Computing power sector rise 3. AI glasses concept price increases Analyst Views 1. Caixin Securities: Focus on expanding domestic demand and AI industry trends post-holiday 2. Galaxy Securities: Post-holiday market style switch possible, may re-enter speculative phase on thematic stocksMore dominant, whether this trend will continue is worth paying attention to. At the same time, considering the pace of performance disclosure and the upcoming holidays, the style switch may also occur after the holiday. The market may once again enter a speculative state with a focus on specific themes. On the other hand, in the process of changes in capital structure, one must be cautious of the risks posed by stocks that are purely pushed up by funds.EB SECURITIES: Market is likely to be dominated by shrinking volume and observation, and will "seek" new opportunities EB SECURITIES stated that with the approaching holiday, some funds have taken profits, causing adjustments in previously strong sectors such as banks and utilities. However, under the seesaw effect, speculative small-cap stocks have generally rebounded. Looking ahead, there is only one trading day left before the May Day holiday. Considering the uncertainty of the holiday, the market is likely to be dominated by shrinking volume and observation. After the adjustments in blue-chip sectors such as banks and utilities, the market will "seek" new opportunities. This article is reprinted from "Tencent Stock Selection". Editor: Wang Qiujia.