Shenwan Hongyuan: A-shares are expected to have a new round of upward trend in the second half of 2026, with various sectors flourishing in the long-term upward structure.

Shenwan Hongyuan released a research report stating that the A-share structural upward trend is approaching a high level area, with full upward potential yet to be opened up. June and July may be a period of rapid adjustment. In the future, the full upward trend will open up more space, with more structures integrating into the overall upward trend of the big cycle, requiring a longer period of time for the market to expand the logical depth of the big cycle. The judgment of a new round of upward trend in the second half of 2026 remains unchanged. In terms of structural selection, June and July may be a period of adjustment for global technology, with AI computing power chain performance realization + stock price rebound digesting valuation, waiting for further expansion of the AI industry trend. In the medium term, the prosperity can be sustained, with opportunities for achieving new highs in performance valuation. In the future, the technology market should also see a variety of opportunities, with the domestic AI industry chain and autonomous controllable technology becoming new sources of prosperity.