A-share market opened with rapid delivery | A-shares experiencing wide fluctuations, with active concept of semiconductor industry cooperation, storage chip stocks gaining strength.

The situation in the Middle East continues to be deadlocked, as investors try to digest the inflationary impact of high oil prices and shift their focus to the upcoming Federal Reserve interest rate decision. However, the slight overnight rise in the three major U.S. stock indexes still makes it difficult for A-share investors to "hold on". Specifically, crude oil prices rose during the Asian daytime session, putting pressure on the market, but then positive news from the U.S. in the evening suppressed oil prices, leading to increases in European and American stock markets! As a result, the main A-share index fell yesterday... Today, A-shares are fluctuating widely, with the ChiNext Index performing stronger. As of the time of writing, the Shanghai Composite Index rose by 0.02%, the Shenzhen Component Index rose by 0.35%, and the ChiNext Index rose by 0.8%. However, it is worth noting that despite the numerous remarks made by Trump, oil prices still rebounded from their lows at the close of the day. This simultaneous rise in U.S. stocks and oil prices is seen by market participants as the most unusual price signal to date. Fawad Razaqzada of Forex.com pointed out: The market is increasingly showing a tendency to ignore the current tense situation, but also has not completely relaxed its vigilance. If the conflict continues to drag on, the risk is that it will once again put greater pressure on the stock market. Looking at the market, the concept of collaborative computing power was active in the early session, with Guangdong Shaoneng Group and Guangdong Electric Power Development reaching the daily limit up; the storage chip concept was active, with Biwin Storage Technology rising more than 5% to hit a new high, and Netac Technology rising more than 8%; the green energy concept was active again, with Huadian Liaoning Energy Development hitting the daily limit for the third day in a row, and Guangdong Electric Power Development and Guangdong Shaoneng Group hitting the limit up. However, oil and gas stocks experienced a sharp pullback, with Geo-Jade Petroleum Corporation briefly hitting the daily limit down, and Shandong Molong Petroleum Machinery approaching the daily limit down. Looking ahead, Debang Securities believes that the A-share market may continue to show characteristics of a structural market, with the rotation between technology growth and traditional cycles becoming the market's main theme. GF Securities believes that, once short-term uncontrollable geopolitical factors are eliminated, the Chinese stock market may experience the best buying opportunity of the year. Popular Sectors 1. Active in the field of collaborative computing power The concept of collaborative computing power was active in the early session, with Guangdong Shaoneng Group and Guangdong Electric Power Development hitting the daily limit up, and Jiangsu Ankura Intelligent Electric, NYOCOR, and GCL Energy Technology following suit. Analysis: In terms of news, Guangdong Shaoneng Group announced that its wholly-owned subsidiary, Guangdong Shaoneng Collaborative Computing Investment Co., Ltd., plans to invest 1 billion yuan in establishing a wholly-owned subsidiary in Lechang City, Shaoguan, to develop clean energy businesses. In addition, the interactive platform of Guangdong Electric Power Development stated that the planning and construction of the Karamay photovoltaic project in Guangdong Energy includes a smart computing center with a computing power scale of 500 PFlops. 2. Strong performance of storage chip stocks The concept of storage chip was active, with Biwin Storage Technology rising more than 5% to hit a new high, and Netac Technology rising more than 8%, as well as Shenzhen Longsys Electronics, Ingenic Semiconductor, Zbit Semiconductor, Inc., Shannon Semiconductor Technology, and GigaDevice Semiconductor Inc. following suit. Analysis: In terms of news, U.S. storage chip stocks rose across the board, with Western Digital rising by more than 9%, Seagate Technology by more than 5%, and Micron Technology by more than 4%, hitting a new high. This week, the Samsung Electronics union in South Korea will vote on the largest strike plan in Samsung's history, which will interrupt chip production in May if approved. Institutional Views GF Securities: Chinese stocks may see a buying opportunity once short-term geopolitical risks are eliminated Changes in logic and subsequent inferences after the U.S.-Iran conflict: In the short term, there is "no expert in geopolitics," and the situation has randomness in its development. In the medium term, the impact may be gradually absorbed, and the technology industry cycle is not easily peaked. With the 2026 U.S. midterm elections focusing on "prices," the current war situation is not something that can be tolerated before the midterm elections. The logic of a global bull market in non-U.S. assets in 2026 is difficult to be disrupted by geopolitical situations. Therefore, after short-term uncontrollable geopolitical factors are eliminated, the Chinese stock market may see the best buying opportunity of the year. Debang Securities: A-share market may continue to show structural characteristics Debang Securities believes that the A-share market may continue to show structural market characteristics, with the rotation between technology growth and traditional cycles becoming the market's main theme. Looking at the macroeconomic environment, China's economy is in a key period of transformation and upgrading, with technological innovation and industrial upgrading becoming the main development direction. In terms of timing, the late March period will see a dense disclosure period of annual reports for listed companies, with performance becoming a key factor influencing stock performance. Companies with better than expected performance and growth prospects may receive market favor, while those with worse than expected performance and deteriorating fundamentals may face adjustment pressure. In addition, policy aspects also need to be closely monitored, such as industrial policy adjustments, fiscal and monetary policy trends, etc. China Securities Co., Ltd.: Rising tide of chemical price hikes, price index up Driven by the post-holiday resumption of work and the rise in oil prices, the diffusion index (the proportion of product categories with weekly price increases) of 154 chemical products reached 64.94%, up 4.55% week-on-week, with price increases spreading. Unlike the previous week's narrowing price difference index, this week's chemical price difference index quickly rose to 13.65% in the past 10 years, up 9.39% on a weekly basis, as the rise in oil prices began to transmit to midstream products. Continued bullishness on rising prices and destocking brought by the rise in oil prices at the bottom of the cycle, a new cycle of destocking may be initiated. This article is reprinted from "Tencent Self-select Stocks", GMTEight editor: Jiang Yuanhua.