A-shares opening express | Three major stock indexes open high and then fall, high-priced stocks continue to decline, the concept of private hospitals remains active.

On September 10th, the three major A-share indexes opened higher and then fell, with the Shanghai Composite Index slightly stronger. As of the time of release, the Shanghai Composite Index rose by 0.13%, the Shenzhen Component Index fell by 0.18%, and the Growth Enterprise Market fell by 0.29%. On the market, the concept of private hospitals continued to be active, with Hainan Haiyao and Whole Shine Medical Technology both hitting the limit up; Shanghai's state-owned enterprise reform concept stocks opened higher, with Shanghai Join Buy hitting the limit up, Shanghai Phoenix Enterprise rising by more than 5%, and He Qing, Secretary of the Party Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission, published an article in Liberation Daily entitled "Focusing on Deepening the Reform of State-owned Assets and Enterprises". In terms of declines, high-priced stocks continued to fall, with multiple stocks like Kunshan Kersen Science & Technology, Dazhong Transportation (Group) Co., Ltd., Xiamen King Long Motor Group, Ways Electron, Shenzhen Best of Best Holdings, Sunyes Manufacturing, etc., hitting the limit down. In terms of main funds, funds favored industries such as Internet e-commerce and photovoltaic equipment, while funds exited industries such as consumer electronics and securities. Institutional viewpoints China Securities Co., Ltd.: It is expected that the index will continue to fluctuate and seek bottoming out in the short term. In the recent weak A-share market, the index's center of gravity has continued to decline, dispelling market expectations for a stabilization and recovery of the index after the heavy volume rebound at the end of August. It is expected that the index will continue to fluctuate and seek bottoming out in the short term, patiently waiting for the recovery of market sentiment. In terms of allocation, the key focuses are: 1. domestic and foreign demand resonance (equipment renewal, consumer goods trade-in + going international); 2. innovative drugs; 3. securities firms, insurance companies. CITIC SEC: It is expected that the price of gold will remain high in the second half of the year. A report by CITIC SEC stated that looking ahead to the second half of 2024, it is expected that the price of gold will remain high, as consumers gradually accept the high price of gold and release suppressed buying demand, and franchisees supplement inventory, which is expected to drive the sales volume of gold jewelry. From a branding perspective, investments in gold, brand strength through design, and brands at the early stage of store expansion are likely to perform well. It also focuses on the incremental benefits brought by online business and overseas business. Guotai Junan: Tesla's FSD is expected to enter China, accelerating the development of the smart driving industry. A report by Guotai Junan stated that Tesla's FSD entering China is expected to replicate the "catfish effect" of electric vehicles, promote the industrialization of domestic smart driving industry, and drive local smart driving whole vehicle manufacturers and supply chains. The rapid increase in the domestic high-end smart driving in 2023-2024 is displayed in Geshi Automotive Research Institute's data, showing that by 2023, the cumulative deployment of NOA function in China had reached 945,000 vehicles, of which the deployment volume of high-speed NOA and urban NOA was 707,000 vehicles and 238,000 vehicles, respectively. The entry of FSD into China is expected to accelerate the deployment of high-end smart driving, promoting the industrialization of automated driving. Hot sectors 1. The concept of private hospitals continues to be active. The concept of private hospitals continues to be active, with Hainan Haiyao and Whole Shine Medical Technology both hitting the limit up, and other stocks such as New Journey Health Technology Group, Jiangsu Aoyang Health Industry, Vanfund Urban Investment & Development, Guangzheng Eye Hospital Group following suit. Analysis: In terms of news, the Ministry of Commerce, the National Health Commission, and the National Medical Products Administration issued a notice on September 8th regarding the pilot work of expanding opening up in the medical field, proposing to allow the establishment of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and the entire island of Hainan. Industry insiders believe that with ongoing policy opening up, there may be more foreign and Hong Kong, Macao, and Taiwan doctors opening medical institutions in China, bringing vitality to the local medical market. 2. The concept of state-owned enterprise reform remains active. The concept of state-owned enterprise reform remains active, with Shanghai Join Buy, Changchun Yidong Clutch, and Baoding Tianwei Baobian Electric continuing to rise, and HIT Welding Industry, Shanghai Material Trading, etc., following suit. Analysis: In terms of news, the Shanghai State-owned Assets Supervision and Administration Commission proposed greater, deeper, and more comprehensive overall allocation of state-owned capital, promoting strategic restructuring across groups and levels. A research report by China Galaxy Securities pointed out that the Third Plenary Session of the Twentieth Central Committee proposed seven major directions for the future reform of state-owned assets and enterprises, deepening the reform of state-owned assets and enterprises, strengthening and improving state-owned capital and enterprises, enhancing core functions, and improving core competitiveness. This article is reprinted from "Tencent Select Stocks", edited by Xu Wenqiang.