A-share opening express | Stock index weak shock consolidation, storage chip concept rises, several high stocks weaken

The three major indexes are oscillating weakly. As of the time of publication, the Shanghai Composite Index fell by 0.17%, the Shenzhen Component Index fell by 0.21%, and the ChiNext Index fell by 0.2%. On the market, the storage chip concept is rising, with Jiangsu HHCK Advanced Materials up more than 10%, Shenzhen Longsys Electronics up more than 7%, and storage giant Micron Technology hitting a new high overnight. Institutions predict that Q4 storage market prices will see a comprehensive increase. Optimized policies continue to be introduced, real estate stocks remain active, with Xiangjiang Stock trading limit up and Beijing Capital Development up more than 4%. The film and cinema concept stocks are generally falling, with Guangzhou Jinyi Media Corporation falling by more than 8% and Omnijoi Media Corporation falling by more than 6%. In terms of focus stocks, Ningbo TIP Rubber Technology once again hit the daily limit after a 13-day consecutive streak. Prior to this, the Shanghai Stock Exchange issued a report announcing that it had taken measures to suspend account trading for related investors of Ningbo TIP Rubber Technology. In addition, several high-priced stocks weakened early in the morning, with Beijing Capital Development plummeting by over 5%, Shanghai Construction Group and Shanghai Metersbonwe Fashion & Accessories hitting the limit down, and Wanxiang Qianchao, Fujian Qingshan Paper Industry, Jishi Media, Longhorn Auto, and others falling significantly. Looking ahead, Orient stated that the recently strong technology core leading stocks have shown signs of convergence in their upward trends, but the technology sector still maintains a relative advantage, particularly with the recent pullback providing investors with entry opportunities. Hot Sectors 1. The storage chip sector is rising The storage chip sector is rising, with Jiangsu HHCK Advanced Materials up more than 10%, and Techshine Electronics, Union Semiconductor, Puya Semiconductor (Shanghai) Co., Ltd., Shenzhen Mason Technologies, Jiujiang Defu Technology, and others following along. Comment: On September 18th, Nvidia announced a $5 billion investment in Intel and stated that they would jointly develop chips for PCs and data centers. Orient's research report indicates that with the continued growth in AI computing power demand, the global DRAM market size will continue to expand, benefiting the storage industry chain. 2. The logistics sector is trending upwards The logistics sector is trending upwards, with STO Express Co., Ltd. hitting the daily limit, and YTO Express Group, HPF Co., Ltd., YUNDA Holding Group, Jiayou International Logistics, and Jiangsu Feiliks International Logistics Inc. following along. Comment: According to CCTV News, during the "14th Five-Year Plan" period, China's social logistics total volume has continued to grow steadily. By 2025, the total volume of social logistics is expected to reach 38 trillion yuan, an increase of about 8 trillion yuan over 5 years. The total revenue of China's logistics industry continues to expand, with an increase of about 4 trillion yuan over 5 years, and is expected to exceed 14 trillion yuan by 2025, ranking first in the world for 10 consecutive years. Institutional Views 1. Guotou Securities: The market indexes in September will continue to maintain their strength Regarding the market indexes, we agree that the "bull market is not over," and the market indexes in September will continue to maintain their strength. Staying above 3800 points has basically met our psychological expectations for this round of liquidity bull market. Currently, the "bull market" phase is experiencing a "bull's tail" stage. We will continue to track it in the future. Although there is a possibility of further upward movement, it is difficult to reasonably estimate the further upside space for the market indexes in the short term. Therefore, we still emphasize: 1. It is not advisable to switch from a slow bull market to a rapid bull market or even a frenzy bull market; 2. Further opening up of the upside space depends on the gradual realization of the "three bulls" (from liquidity bull-basic bull-new and old momentum transformation bull) in the next year. 2. CITIC SEC: The photovoltaic industry's "anti-concave" policy is expected to gradually take effect. It is recommended to focus on opportunities to position at the bottom of the industry According to a CITIC SEC research report, on September 17th, the National Standards Commission released a draft for comments on the revised energy consumption standards for polycrystalline silicon, reducing the comprehensive energy consumption indicators for polycrystalline silicon levels 1/2/3 (corresponding to advanced values, new or expanded, existing production capacity) from 5/6/7.5kgce/kg to 5/5.5/6.4kgce/kg, a decrease of 30% to 40%. CITIC SEC believes that as energy consumption standards become stricter, combined with measures such as sales at no less than cost, capacity acquisition and integration, the photovoltaic industry's "anti-concave" policy is expected to gradually take effect, and the profitability of the industry chain is expected to improve. It is recommended to focus on opportunities to position at the bottom of the photovoltaic industry, and to recommend industry leaders at various stages and top companies driving technological iteration. 3. Orient: The technology sector still holds a relative advantage The recently strong technology core leading stocks have shown signs of converging main upward trends, subsequently transitioning into oscillations, providing space for other thematic stocks, especially low-priced restructuring stocks to perform. Consequently, the stock indexes lack momentum for an upward trend, but the market remains relatively active. For indexes supported by technology stocks, such as the Shenzhen Component Index, ChiNext Index, and the Sci-tech Innovation 50 Index, although they may show upper shadow lines, overall, they still trend upwards, accumulating momentum for new highs in the future. In terms of industry allocation, the technology sector still holds a relative advantage, particularly with the recent pullback providing entry opportunities for investors. Additionally, industries and individual stocks with high prospects for improvement in fundamentals and industry trends, such as TMT, media, and innovative pharmaceuticals, are worth paying attention to. This article is reproduced from Tencent Stock Selection, edited by Chen Xiaoyi.