The essence of the securities firm's morning meeting | Short-term A-share market strong stocks filling the decline, with the characteristics of the market bottom

Last Friday was the last trading day before the Mid-Autumn Festival. The market fluctuated lower throughout the day, with the Shanghai Composite Index approaching 2700 points to set a new low for the stage, and the ChiNext Index falling by more than 1%. Overall, on that day, individual stocks fell more than they rose, with over 4000 stocks in the entire market declining. The turnover of the Shanghai and Shenzhen stock markets was 524.8 billion, an increase of 9.1 billion from the previous trading day. In terms of sectors, real estate, diversified finance, mergers and acquisitions, and steel led the gains, while solid-state batteries, Huawei Hisilicon, liquor, and cloud gaming led the declines. By the end of last Friday's trading session, the Shanghai Composite Index fell by 0.48%, the Shenzhen Component Index fell by 0.88%, and the ChiNext Index fell by 1.07%. At today's securities morning meeting, China Securities Co.,Ltd. believes that in the short term, A-shares stock market strong stocks are filling the decline, showing signs of a market bottom; CICC indicates a focus on the technology innovation sector, especially sectors with independent industry logic; Guotai Junan emphasizes the release of the reasoning OpenAI o1 model, accelerating the construction of AI computing power. China Securities Co.,Ltd.: In the short term, A-shares stock market strong stocks are filling the decline, showing signs of a market bottom China Securities Co.,Ltd. believes that Chinese policy is entering a critical observation window, with extreme low sentiment in the short-term A-share market, strong stocks filling the decline, showing signs of a market bottom. The future market turnaround still relies on the escalation of domestic demand policies, with a focus on domestic demand alpha varieties in terms of structure. Seize active investment opportunities, as the platform economy has actively reformed and accelerated transformation in the past three years, entering a new starting point. Online growth has been repaired first, focusing on the internet platform economy; the sharp decline in real estate sales is gradually passing, and related support policies can be expected; the policy of replacing old with new to boost domestic demand domestically is beginning to show results, waiting for the policy to further boost domestic demand. CICC: Focus on the technology innovation sector, especially sectors with independent industry logic CICC states that after the dividend sector has rebounded, attention needs to be placed on the fundamental aspects and sustainability of dividends; since mid-July, there have been more than 10% adjustments in consumer electronics, semiconductors, and other sectors, with reasonable valuations. Overlaying potential catalysts in the consumer electronics sector, the sector may see a phased market, while focusing on the technology innovation sector, especially sectors with independent industry logic; the export chain and globally priced resource sectors may experience differentiation after a short-term pullback due to overseas fluctuations. Guotai Junan: Emphasize the reasoning OpenAI o1 model release, accelerating AI computing power construction Guotai Junan points out the potential of OpenAI's new models o1 and o1 mini in handling complex tasks such as science, mathematics, and programming on the inference side, as well as the continuous iteration of the new models will continue to drive the construction of AI computing power. It continues to recommend investment opportunities in AI hardware companies. This article is reprinted from "Cai Lianshe," GMTEight editor: Jiang Yuanhua.