Pre-market report on A shares | Tariff reduction? Trump denies it, American chip stocks soar

Investment Calendar International Consumer Electronics Show (CES) opens today Editorial Opinion Editorial Opinion: Yesterday, the three major indices made a slight adjustment, with funds concentrating on the relatively lower medical sector; Zhongtai believes that the pullback is also a good opportunity for layout, focusing on central state-owned enterprises and hard technology. Pre-market News 1. Reports state that Trump's tariff plan will focus on key areas, Trump denies: tariff policy will not shrink Type: Macro Sentiment Impact: Negative The Washington Post quoted sources as saying that Trump's aides are studying a new tariff plan that is more inclined to focus tariffs on a few key areas. Trump quickly denied this, calling it another example of fake news, stating that the tariff policy will not shrink. Following Trump's denial, the US dollar surged, and non-US currencies all fell. 2. CES, a technology summit, brings a series of positive news! US chip stocks rise, Micron Technology rises over 10%, NVIDIA rises over 3% Type: Industry Sentiment Impact: Positive At the Consumer Electronics Show (CES) held in Las Vegas, Qualcomm launched a new AI chip priced as low as $600 for PCs, Intel's first Intel 18A process chip made its debut, and Jensen Huang will also deliver a keynote speech; overnight US chip stocks surged, with Micron Technology up 10.45%, AMD up 9.36%, and NVIDIA up 3.4%. 3. Tencent and Contemporary Amperex Technology respond to being listed on the US Defense Department list: It is a mistake, and we will work together to resolve the misunderstanding Type: Company Sentiment Impact: Neutral In response to being included on the list of Chinese military companies by the US Department of Defense, Tencent stated that they are not a military company or supplier; Contemporary Amperex Technology, also listed, responded that they have not participated in any military-related activities. It is understood that the list has been adjusted multiple times, with many companies being removed from the list a few months after being added. 4. Ministry of Finance: Increase support for equipment upgrades and technological transformations, extend the policy period for equipment upgrade loans with fiscal interest subsidies Type: Macro Sentiment Impact: Positive The Ministry of Finance issued a notice stating that for equipment upgrade loans meeting the conditions signed before March 7, 2024, and equipment purchase or upgrade service procurement contracts, these loans will be included in the scope of fiscal interest subsidy policies; at the same time, the period of implementation of the fiscal interest subsidy policy for equipment upgrade loans will be extended until the central bank's equipment upgrade-related re-lending quota is used up. Institutional Views 1. Zhongtai: The pullback is also a good opportunity for layout, currently it is recommended to position oneself in low positions of central state-owned enterprises and the hard technology industry chain. 2. Shenwan Hongyuan Group: The spring market still has opportunities in a volatile market, focus on AI applications and low-altitude economy and other technology themes in the future. 3. Orient: In the short term, the market will maintain a weak and volatile pattern, it is recommended to focus on dividend stocks and high-prosperity technology innovation tracks for allocation. Positive and Negative Forward-looking 1. Nearly 25 million new A-share accounts were opened in 2024, boosting the annual performance of related securities firms Type: Market discussion Sinolink: With active policy and loose liquidity factors driving market trading activity, the securities sector is expected to recover after a short-term fluctuation, and in the medium to long term, the performance improvement of securities firms is still expected. It is predicted that the fundamental situation of the securities industry will reverse under low base in 2025. 2. Fliggy: Spring Festival travel demand will erupt, outbound travel orders have far exceeded last year Type: Market discussion China Aviation Securities: Based on travel convenience, cost, and tourism experience considerations, the growth rate of outbound travel is expected to continue. This is favorable for outbound travel product providers; following the landing of tourism consumption policies, coupled with income improvement expectations, domestic travel demand is expected to be further released. 3. Prices of long-term refrigerant contracts rise, the industry expects the industry's prosperity to continue Type: Market discussion Guotai Junan: Under quota constraints, the supply-demand structure of third-generation refrigerants will continue to optimize, air conditioning production and sales remain high, and refrigerant prices continue to rise. With strong comprehensive strength, a complete product matrix, comprehensive technical reserves, production companies at the forefront of refrigerant quotas will benefit. Announcement Express Positive Announcements 1. Dongxing: Net profit for 2024 is expected to increase by 76.89%-107.38% year-on-year 2. Guangzhou Development Group Incorporated: The controlling shareholder increases holdings by 0.23%, plans to continue to increase holdings by 1 billion to 2 billion 3. Wens Foodstuff Group: Meat pig sales revenue in 2024 was 61.753 billion yuan, an increase of 33.5% year-on-year Negative Announcements 1. Shandong Lukang Pharmaceutical: There have been no major changes in the product structure and main business 2. Zhejiang Biyi Electric Appliance: The company has a small stake in Shanghai Lipai, a company in the AR optical display field 3. Shaanxi Zhongtian Rocket Technology: Shareholder CHINA BEST Fund reduced its holdings of the company's shares by more than 1% Overseas Markets Editor's note: US stock market indices are mixed; driven by a series of positive factors such as the Consumer Electronics Show, the chip sector has surged significantly, with most Chinese stocks falling, and the Nasdaq Golden Dragon Index closed down by 1.16%. This article is from "Tencent Self-selected Stocks", GMTEight Editor: Liu Xuan.