"A-share opening express | Shanghai Composite Index up 0.05%, precious metals, retail, duty-free shops and other sectors leading the gains"

The three major A-share stock indexes opened with mixed gains and losses, with the Shanghai Composite Index up 0.05% and the ChiNext Index down 0.04%. On the market, precious metals, retail, and duty-free shops sectors are leading in terms of gains. Market Outlook: CMSC: Foreign funds are bullish on and investing in Chinese assets, AI market is evolving towards application end CMSC believes that the rapid rise of DeepSeek is leading to a reappraisal of Chinese assets, with foreign institutions beginning to be bullish on and invest in Chinese assets. Looking at the performance of Chinese assets in Hong Kong and US stock markets, this round of foreign investment seems to be more optimistic than us. Specifically in the current AI market, the market may shift focus from general increase to sectors with real value added, transitioning from "scenario trading" to "business model trading". Looking ahead, February to March of this year is still a classic time window for being bullish on A-shares. In terms of stock selection, focusing on thematic directions particularly in AI applications will be the next stage of the market's key focus. Sectors related to consumer electronics, media internet, software, and areas related to large-scale applications like humanoid Siasun Robot & Automation deployment deserve special attention. GF SEC: Spring agitation continues to recommend "TMT main line" and "low position growth sideline" GF SEC believes that in the short term, there may be a high and low switch within technology stocks or TMT, but the technology main line is still clear. In terms of low position growth, besides the post-Spring Festival response in low altitude economy, semiconductor equipment, photovoltaics, attention can also be paid to military industry, cultural overseas expansions, satellites, medical equipment, etc., low position growth with potential catalysts. In the medium term, attention should be paid to the shift in technology growth style from theme-driven to fundamental expectations-driven, with a possibility of entering a trend advantage. In this case, "TMT transaction volume accounting for over 40%" may no longer be a suppressive factor. From the perspective of global AI industry investment, DeepSeek may change the macro narrative of AI in the past two years, and there is hope for a higher proportion of A-share TMT market value in the medium to long term. It is recommended to focus on exploring opportunities in the ByteDance industry chain. This article is reproduced from "Tencent Stock Pick", GMTEight Editor: Chen Wenfang.