A-shares opening express | A-shares differentiation, high-priced stocks collectively plunging Kunshan Kersen Science & Technology (603626.SH) staged a floor and ceiling market trend.

After the collective decline of the three major US stock indexes last Friday, the stock market experienced another sharp drop on Monday, reminiscent of last month's "Black Monday". In the A-share market, the three major indexes opened lower, with the ChiNext Index performing slightly stronger. As of the time of writing, the Shanghai Composite Index fell by 0.58%, the Shenzhen Component Index fell by 0.36%, and the ChiNext Index rose by 0.05%. On the market, high-priced stocks collectively fell, with Kunshan Kersen Science & Technology experiencing a limit-down scenario. Prior to this, Ways Electron, Sunyes Manufacturing, and Dazhong Transportation (Group) Co., Ltd. hit their downside limits, while Shenzhen Huaqiang Industry fell by more than 5%. The cell immunotherapy concept was active in the early trading, with Hainan Haiyao hitting the limit up, and Chimin Health Management rising by over 8%. The photolithography concept generally rose, with Shenzhen Easttop Supply Chain Management, Shenyang Blue Silver Industry Automation Equipment rising by over 3%. The Netherlands announced that it will expand the scope of control of photolithography machines. In terms of declines, international gold prices fell, and the precious metals sector opened lower, with Shandong Yulong Gold and Sichuan Gold falling by more than 3%. The ride-hailing concept adjusted, with Dazhong Transportation (Group) Co., Ltd. experiencing a limit-down scenario in the morning trading session. In terms of main funds, funds favor environmental governance, medical services, and medical equipment industries, while funds are exiting consumer electronics, railway, and road industries. Institutional Views: Looking ahead, the Central China Securities Li Qiu Suo team believes that the market is showing many bottoming characteristics, but confidence restoration still requires more positive factors to support it. China Securities Co., Ltd.: The recent market position and phenomenon show bottoming zone characteristics. Jian Investment Strategy Chen Guo team stated that the recent market position and phenomenon show bottoming zone characteristics. The Fed's interest rate cuts and domestic policy efforts will improve valuation and profit expectations, and with the base effect, the fourth-quarter fundamental data is expected to show an upward trend year-on-year. Investors should be opportunistic in laying out their positions. Consider focusing on equipment upgrades and the consumption sector's prospects for improvement, core sectors related to strong domestic demand resilience in the mid-year report, and valuation recovery in growth directions with their own industrial logic signaling that the bottom is near. China Securities: The market is showing many bottoming characteristics, but confidence restoration still requires more positive factors to support it. The Central China Securities Li Qiu Suo team also believes that the market is showing many bottoming characteristics, but confidence restoration still requires more positive factors to support it. It further believes that since mid-July, consumer electronics, semiconductors, and other sectors have experienced declines of more than 10%, with not high valuations. Coupled with recent possible catalytic factors in the consumer electronics sector, a phased market rally may occur. Soochow: Valuation and profitability of the securities sector are both at historical bottoms, with significant long-term valuation recovery potential. Soochow's research report stated that the valuation and profitability of the securities sector are both at historical bottoms, with significant long-term potential for valuation recovery. At the same time, the wave of mergers and acquisitions continues, and the industry's competitive landscape is expected to be optimized, with restructured securities firms possibly achieving leapfrog development. Based on this, we recommend: 1) top securities firms with PB valuations significantly below 1, such as Guotai Junan and Huatai; 2) recommend high-performance internet securities platform companies such as Hithink RoyalFlush Information Network, East Money Information, and Beijing Compass Technology Development, and pay attention to Shenzhen Fortune Trend Technology. Hot Sectors: 1. Active concept of cell immunotherapy The concept of cell immunotherapy was active in the market, with Hainan Haiyao hitting the limit up, and stocks like Landfar Bio-medicine, Guanhao Biotech, TAILIN, Vcanbio Cell & Gene Engineering Corp., Ltd. collectively opening higher. Review: On the news front, on September 8th, the Ministry of Commerce, the National Health Commission, and the National Medical Products Administration issued a notice on expanding opening-up pilot work in the medical field, planning to allow the establishment of wholly foreign-owned hospitals in Beijing, Tia 2. Photolithography adhesive concept stocks continue to strengthen Photolithography adhesive concept stocks continued to rise, with HMT (Xiamen) New Technical Materials Co., Ltd. hitting the daily limit up, Poly Plastic Masterbatch rising by over 10%, and stocks like Shenzhen Easttop Supply Chain Management, Shenyang Blue Silver Industry Automation Equipment, Suzhou Huaya Intelligence Technology, Qingdao Guolin Technology Group rising by over 5%. Review: On the news front, Dutch photolithography giant ASML announced on its official website that the Dutch government has unveiled new regulations on the export of immersion DUV lithography machines, which took effect on September 7th. This means that ASML needs to apply to the Dutch government for an export license in order to ship TWINSCAN NXT:1970i and 1980i DUV lithography machines.This article is reprinted from "Tencent Self-selecting Stocks", edited by GMTEight: Chen Wenfang.