A-shares opening express | Three major indexes collectively opened low, with the data center sector leading the decline in terms of percentage drop.

A-shares three major stock indices collectively opened low, with the Shanghai Composite Index falling by 0.81% and the ChiNext Index falling by 1.72%. On the market, data centers, software development, and communication equipment sectors were among the top decliners. Market Outlook China Securities Co., Ltd.: If the AI theme overheats and leads to a pullback, there are still opportunities for repositioning and attacking China Securities Co., Ltd. stated that the market theme is still AI+, and if trading overheats and leads to a pullback, there are still opportunities for repositioning and attacking. Last week's surge in the A-share market was mainly driven by Alibaba's capital expenditure plan. The unexpected capital expenditure has strengthened market confidence in the technology sector. Although the market may not have sustained strong catalysis in the short term, the medium-term evolution of the industry is the general trend. Even if there is a temporary technical correction in the technology sector, strong participation from funds may still support the market. Continue to focus on policy expectations and industry trends. Tianfeng: The current TMT sector's relative crowding is not high Tianfeng believes that the high crowding in the TMT sector that the market is currently paying attention to refers to absolute crowding, but in fact, after September 24, the overall sentiment in the A-share market improved, and the relative crowding level (TMT turnover rate compared to overall A-share turnover rate) still has room to grow. Based on economic recovery and market liquidity, investment themes can be narrowed down to three directions: (1) Technology AI+ breakthroughs and open-source leadership, (2) valuation recovery of consumer stocks and gradual recovery of consumer segmentation, (3) the rise of undervalued dividends. Orient: There is a strong demand for adjustment in the technology sector, but there are still no clear signs of a top Orient believes that the recent gains in the technology sector have been significant, with a strong internal demand for adjustment, but there are still no clear signs of a top; the current trend of domestic technology industry development is clear, the technology stock market offensive is not over, and short-term adjustments still present opportunities for repositioning. Continue to focus on the general technology industry. This article is reproduced from "Tencent Self-selected Stocks", edited by GMTEight: Xu Wenqiang.