A-share market opening express | ChiNext Index fell by 0.42%, lithium mining, aerospace military industry, photovoltaic sectors leading the gains.

The three major stock indexes of A-shares collectively opened lower, with the Shanghai Composite Index falling by 0.15% and the Growth Enterprise Index falling by 0.42%. On the market, the lithium mining, aerospace and military, and photovoltaic sectors led the gains, while the liquid cooling servers, light module, and Apple concept sectors were among the top decliners. Institutional Views on the Future Market: Sinolink: After the easing of risks at the end of the market, investors are shifting towards tech assets with certainty premium. Sinolink stated that after the easing of risks at the end of the market, market risk preferences are limitedly rebounding, and investors are shifting towards tech assets with certainty premium. However, the market's future prospects are optimistic, with a possible return to rotational trading similar to the HALO trades seen before; secondly, energy constraints are beginning to return. Sinolink recommends focusing on: 1) New and old energy sources that may benefit under both paths (oil, oil transport, coal, lithium batteries, wind power, energy storage) and the chemical industry; 2) Commodities like copper, aluminum, and gold that have both financial properties and demand recovery amid the retreat of the US dollar's illusion; 3) China's manufacturing sector is becoming a global cornerstone, with opportunities for revaluation in industries represented by machinery equipment; and the continuous rise in export prosperity and improved capital inflow will bring new drivers to the long stagnate domestic demand, seeking structural opportunities under the reversal of inhibiting factors - such as tourism and scenic areas, flavor and fermentation products, beer and other alcoholic beverages, pharmaceutical business, medical aesthetics, and more. Orient: There are some notable changes on the market, focusing on the sectors where funds are flowing back like liquid cooling, commercial aerospace, etc. Orient stated that looking at the overall situation, global equity markets rose last week, with the Growth Enterprise Index showing a stronger rebound among the three major stock indexes. The market's core themes are returning to technology assets with positive earnings prospects and cyclical assets with bottoming-out profit improvements. There may still be fluctuations in the Middle East situation, however, the market's sensitivity to this pessimistic expectation is expected to gradually diminish. From a technical perspective, the Shanghai Composite Index has climbed above 4080 points, in line with our assessment last week, and may attempt to test the 4100-point integer mark this week. China Galaxy: The market is moving away from safe-haven trades and emotional plays towards profit restoration and industry prosperity, with a focus on semiconductors, computing power, communication equipment, etc. China Galaxy stated that the market is gradually returning to structural themes centered on profit restoration and industry prosperity, moving away from safe-haven trades and emotional plays. Looking ahead, there may still be fluctuations in geopolitical negotiations, uncertainty in international oil prices, and residual volatility risks. However, China's economic resilience, rising inflation, and the growing attractiveness of RMB assets collectively build the core support for the mid-term performance of A-shares. The end of April marks the peak period for A-share annual and quarterly reports, providing a key window to validate profit restoration and structural investment opportunities. Investment Opportunities: Focus on: 1) Trends in technology innovation, autonomy and industry prosperity, with a focus on core sectors with high performance outlook, such as power equipment, energy storage, storage, semiconductors, computing power, communication equipment, etc.; 2) Resource sectors benefiting from positive year-on-year changes in PPI and upward price centralization, including non-ferrous metals, basic chemical industry, petroleum and petrochemicals, building materials, steel, etc.; 3) Energy and alternative demand themes in the repeated geopolitical plays, defensive sectors, focusing on coal, coal chemical industry, new energy, finance, utilities, etc. In addition, the valuation of the consumer sector is historically low, with some sub-sectors having expected recovery potential, suggesting focus on agriculture, forestry, animal husbandry, fishery, food and beverage, household appliances, etc. (This article was reprinted from "Tencent Self-selected Stocks", GMTEight Editor: Xu Wenqiang.)