CITIC Securities Qiu Xiang: A-share incremental market established, capital consensus will focus on two main directions.

Since mid-June, the A-share market has experienced a continuous uptrend, with the three major indexes hitting new highs for the year. Qiu Xiang, Chief Analyst of A-share Strategy at CITIC Securities, said in an interview with reporters that the significant improvement in capital inflows and the sustained efforts of macro policies have jointly helped A-shares transition to an incremental market. Investment strategies should shift from trading-oriented to holding-oriented, with the fundamentals of overseas sectors and the certainty of industries such as AI and innovative drugs becoming the core direction of consensus among investors. Sectors like the Hang Seng Technology with appropriate valuation positions are expected to present good opportunities for allocation.