A-share market express courier | Three major indices opened high and then fell, technology sector continued to be strong. Can the A-share market's record-breaking journey continue?

Inflation data continues to rise, but it can't stop the AI buying spree. Overnight, the S&P and Nasdaq hit new historical highs, with Chinese concept stocks following suit, while the seven tech giants are celebrating. On May 14th, the three major A-share indexes opened high and then fell, with the ChiNext Index rising by more than 1% at one point. As of 9:42 am, the Shanghai Composite fell by 0.23%, the Shenzhen Component fell by 0.21%, and the ChiNext Index fell by 0.3%. In terms of the market, concepts related to computing power leasing showed repeated strength, with RunJian Co., Ltd., Hunan Huasheng, and Guangdong Qunxing Toys Joint-stock hitting limit up; CPO-related stocks continued to rise, with Suzhou K-Hiragawa Electronic Technology hitting limit up for the third consecutive day, and Shenzhen Gongjin Electronics and Robotechnik Intelligent Technology rising by over 10%; the innovative pharmaceutical concept was active, with Zhejiang Anglikang Pharmaceutical hitting limit up for two consecutive days; the green electricity concept continued to be strong, with DATANG POWER rising for seven straight days, and Guangdong Shaoneng Group and Beijing Jingneng Power hitting limit up; the industrial gas concept remained strong, with Peric Special Gases rising for three days, and Guangdong Huate Gas Co., Ltd rising by over 10%; the ceramic substrate concept repeatedly showed strength, with Monalisa Group hitting five consecutive limit ups. Looking ahead, a research report from China Securities Co., Ltd. stated that in the second half of 2026, the A-share market will witness a structural bull market, driven by structural prosperity and clustered funds focusing on structural booming markets. The report recommended investors to follow an investment strategy focused on "prosperity," focusing on the two main themes of "computing power" and "recovery." Popular Sectors: 1. CPO concept stocks continued to rise, with companies such as Suzhou K-Hiragawa Electronic Technology and Shenzhen Gongjin Electronics hitting limit up. Review: Guosheng's research report pointed out that according to LightCounting, the market size of Ethernet optical modules (100G and above) and CPO is expected to grow by 65% in 2026, surpassing $50 billion by 2031. Optical modules are undergoing rapid iterations from 400G to 800G/1.6T, which pose higher demands on upstream components such as optical isolators and WDM filters with each speed upgrade, opening up a broad market space for communication optical components. 2. The green electricity concept continued to be strong, with companies such as DATANG POWER hitting seven consecutive limit ups. Review: According to a joint action plan by the National Development and Reform Commission and three other ministries, the interaction between artificial intelligence and energy is promoted, emphasizing the direction of integrating computing power and electricity. By 2027, the interaction capability between new energy and computing power is expected to significantly improve, and by 2030, AI computing power clean energy supply will reach a world-leading level. Institutional Views: CITIC Securities: A-share market's technology and energy industries are expected to maintain high levels of prosperity. CITIC Securities research report states that in China, the first quarter GDP growth rate exceeded expectations, achieving a good start for the economy, with exports and PPI being the biggest structural features. It is predicted that there is currently no need for additional overall policy adjustments, as structural policies will focus on supporting technological innovation and "anti-inversion." On the international front, the US economy continues to cool down, with the European energy shock changing growth expectations, and Japan's imported inflation bringing economic uncertainties. It is expected that after Wash's assumption of the chairmanship of the Federal Reserve in May, there will be a rate cut in the second half of the year, while the Bank of Japan may raise rates by 25bps in June. In terms of asset allocation, the prosperity of the A-share market's technology and energy industries is expected to remain high, while government bond rates may fluctuate at low levels, with caution recommended for overseas bonds. This article was reprinted from Tencent's self-selected stocks, edited by GMTEight: Chen Xiaoyi.