A-share opening express | Multiple factors intertwined disturbed A-share three major indexes to adjust again, chemical stocks active against the trend.

The Middle East situation, the situation in the Hormuz strait, and military movements are intertwining factors that are continuously disrupting the market. On March 16, the three major A-share indexes opened with mixed gains and losses, and then collectively adjusted again. As of the time of writing, the Shanghai Composite Index fell by 0.46%, the Shenzhen Component Index fell by 0.85%, and the ChiNext Index fell by 0.7%. On the market, the chemical industry and chemical fertilizer sectors repeatedly strengthened, with Kingenta Ecological Engineering Group seeing two consecutive gains; the deep-sea economy concept collectively opened higher, with Shandong Oriental Ocean Sci-tech hitting the limit up; cross-border payment concepts were active, with CNPC Capital hitting the limit up; the electronic gas concept was actively traded, with Suzhou Jinhong Gas Co., Ltd. rising by over 14%. The US-Iran conflict has entered a standoff stage, causing drastic fluctuations in oil prices. Looking ahead, China Securities Co., Ltd. stated that with global risk preference disruptions and domestic market funding constraints, the A-share market may still maintain a volatile pattern in the short term. In terms of opportunities, Zhongtai stated that energy security class assets may continue to benefit in the short term, while technology classes may need to focus on avoiding the negative impact on overseas mapping sectors. Popular sectors 1. The chemical industry and chemical fertilizer sectors repeatedly strengthened The chemical industry and chemical fertilizer sectors repeatedly strengthened, with Kingenta Ecological Engineering Group seeing two consecutive gains, followed by increases in Guizhou Chitianhua, Sichuan Lutianhua, Jiangsu HuaChang Chemical, Anhui Liuguo Chemical, and Shanxi Lanhua Sci-Tech Venture. Comment: As the Middle East conflict continues to escalate, the blockade in the Hormuz strait is turning a geopolitical crisis into a systemic supply shock for the global chemical industry. According to a report by Morgan Stanley released on March 13, since the outbreak of the Iran conflict, the force majeure declarations of major chemical products globally have shown a trend of cross-regional and cross-category chain effects. 2. The deep-sea economy concept collectively opened higher The deep-sea economy concept collectively opened higher, with Shandong Oriental Ocean Sci-tech hitting the limit up, followed by Beijing Zhongkehaixun Digital S&T Co., Ltd., Shanghai SK Petroleum & Chemical Equipment Corporation, Hynar Water Group, Juli Sling Co., Ltd., Beijing Highlander Digital Technology, KLT, Asian Star Anchor Chain opening higher. Comment: In the issue of "Qiushi" magazine published on March 16, an important article titled "Promoting the High-quality Development of the Marine Economy" will be published. The planning of the "14th Five-Year Plan" for the development of the marine economy, increase policy support in industry, technology, fiscal and taxation, financial, and other aspects, encourage and guide social capital to actively participate in the development of the marine economy. Strengthen the comprehensive planning of major bays. Institutional viewpoints China Securities Co., Ltd.: Profound impact of the Middle East situation, China welcomes strategic opportunities The US-Iran conflict has entered a standoff stage, causing drastic fluctuations in oil prices. China's diversified crude oil imports, energy structure transformation, and strategic petroleum reserves are expected to play a buffering role. However, with global risk preference disruptions and domestic market funding constraints, A-shares may still maintain a volatile pattern in the short term. If the US-Iran conflict becomes prolonged, it may have three major impacts: 1) an increase in oil prices, global inflation, and disruption to the pace of interest rate cuts by the Federal Reserve; 2) accelerated loosening of the oil-dollar system, China is expected to become a global safe haven for capital, and RMB assets may benefit; 3) may give rise to strategic opportunities for China, with the dual-pillar energy base of "coal + new energy", not only safeguarding its own energy security but also potentially becoming a leader in global energy transformation. Key industry focuses include coal, coal chemical industry, electric power equipment, utilities, petroleum and petrochemical, and the AI industry chain. Thematically, lithium batteries, nuclear power, energy storage, wind power, etc., are being monitored. Zhongtai: How to allocate assets if geopolitical conflicts become prolonged? The US-Iran conflict has lasted longer than market expectations. In the A-share market, this week is still dominated by "risk aversion." As the geopolitical conflict continues and crude oil futures prices rebound, this week's trading trend remains focused on energy and defense sectors. Heavy asset sectors such as coal, utilities, and electric power equipment, as well as the overall performance of the petroleum energy replacement sector, are good. Looking ahead, the US-Iran conflict may exhibit a trend of "prolonged." Energy security class assets may benefit in the short term or continue to benefit, while technology classes may need to focus on avoiding the negative impact from overseas mirrored sectors. Investment suggestions: Theme 1: Energy security and "conflict-benefiting" assets. Theme 2: Technology export chains driven by energy transformation and military expansion. Theme 3: Differentiation in the inner structure of technology - prioritizing domestic logic-driven directions. Industrial: Changes in geopolitical pricing, and how A-shares respond? As the battle evolves, the core contradiction of market pricing is undergoing two major changes: the trading core is shifting from "intensity escalation" to "repeated negotiations," and the influence of high oil prices on the economy and policy orientation is beginning to be priced in. After confirming these two major changes, as the market gradually blunts the marginal negative response and the advantages of domestic policy certainty become more prominent, A-shares are expected to trend more towards "taking the lead." This article is reprinted from "Tencent Stock Picks", GMTEight editor: Jiang Yuanhua.