A-share opening express | Three major indexes collectively open higher, precious metal sector leads the gains.

The three major stock indexes in A-shares collectively opened higher, with the Shanghai Composite Index rising by 0.09% and the Growth Enterprise Index rising by 0.02%. On the market, sectors such as precious metals, rare earth permanent magnets, and securities are leading in terms of gains. Institutional Outlook Caxin Securities: Expecting a trend of "anti-excessive competition" Prior to August, there were no significant macro risks, and the market was in a new window for long positions, supplemented by improved investor sentiment and incremental capital inflows. The index still has upward momentum, although it faces strong resistance levels. It is expected to continue to operate mainly in a strong and oscillating manner, with an increase in investment tolerance. While there is no clear turning point in macroeconomics and policy, the implementation of the "anti-excessive competition" policy may alleviate the dilemma of "increased income but not increased profits." The index may still enter a new phase of double-clicking Davis and break out of the range of oscillating adjustments. Investment Advice: (1) In the direction of "anti-excessive competition" related sectors, such as photovoltaics, lithium batteries, automobiles, steel, building materials, coal, and pork; (2) Stable coin-related sectors, such as financial technology and brokerage. (3) In the non-ferrous direction, such as rare earths and precious metals (especially silver); (4) Targets with better-than-expected mid-year forecasts, such as overseas computing power, wind power, shipping, innovative drugs, new consumer goods, and military industry. Huaan: Bullish on the trend of banking and insurance, there is still a lot of room for the phase valuation repair of real estate. Overseas tariff risks may intensify, but A-shares are gradually becoming desensitized. Second-quarter economic data will be released soon, expected to be weaker than the first quarter but possibly better than market expectations. Expectations for major meeting policies are expected to be delayed, leading to increased market volatility. In terms of allocation, the sharp decline in banks on Friday was not due to stable market funds, the intrinsic logic of high dividend bank operations is stable and will be further strengthened. We continue to be bullish on the trend of banking and insurance, and there is still a lot of room for the phase valuation repair of real estate. Sectors with economic support such as rare earth permanent magnets, precious metals, engineering machinery, motorcycles, and agricultural and chemical products can still be considered. This article is reproduced from "Tencent Stock Selection," GMTEight Editor: Xu Wenqiang.