A-share market opening express | A-share three major indexes collectively retract, Kechuang 50 strengthens against the market! The chip industry chain fluctuates and rebounds.

The prospects of US-Iran talks are murky, causing confidence in Wall Street bulls to shake. Despite a sharp drop in oil prices, major US stock indexes closed basically flat on Wednesday. On May 28, the three major A-share indexes collectively opened lower, with the STAR 50 Index showing strength against the market. As of 9:40 am, the Shanghai Composite Index fell 0.14%, the Shenzhen Component Index fell 0.69%, and the ChiNext Index fell 0.99%. On the market, the chip industry chain saw a rebound, with wafer foundry and silicon wafer sectors leading the gains, with Hua Hong Semiconductor rising more than 10%, hitting a historical high; the computing power leasing concept was active at the beginning, with Dawei Technology(Guangdong) Group hitting the limit up; the power sector was active again, with Guangdong Electric Power Development seeing two consecutive limit up days, and Huadian Energy reaching the limit up; the real estate sector showed a different trend, with Shenzhen Tagen Group hitting the limit up directly, and Tianjin Jintou State-owned Urban Development rising over 6%; precious metals, semiconductors, liquor, and photovoltaic equipment sectors were among the top decliners. Looking ahead, China Securities Co., Ltd. believes that in the short term, the market is likely to exhibit the characteristics of "mild index fluctuations and accelerated style rotation", with the focus of the market potentially shifting from the previous growth direction of AI computing power to the low-end consumption, power, and domestic semiconductor substitution directions. Hot sectors: 1. The power sector is active again. The power sector was active again, with Guangdong Electric Power Development seeing two consecutive limit up days, and Huadian Energy hitting the limit up, followed by DaTang HuaYin Electric Power, Huadian Liaoning Energy Development, and Gepic Energy Development. Institutional views: China Securities Co., Ltd.: In the short term, the market is likely to exhibit the characteristics of "mild index fluctuations and accelerated style rotation". Looking ahead, it is necessary to pay close attention to the substantial driving force of the storage industry chain after the approval of Changxin Technology's IPO, and whether hot money will form new sustainable hotspots in the direction of consumption and power after fleeing from the high-tech sector. In summary, in the short term, the market is likely to exhibit the characteristics of "mild index fluctuations and accelerated style rotation", with the focus of the market potentially shifting from the previous growth direction of AI computing power to the low-end consumption, power, and domestic semiconductor substitution directions. East Money Information Securities: Technology remains a relatively certain mainstream track for the whole year. Chen Guo, Chief Strategist of East Money Information Securities, stated in a research report that after experiencing the significant gains in the previous "normal trading + quarterly earnings season", the market's structural divergence is increasing, with some funds seeking structural rebalancing and rotation. Chen Guo judged that in the medium term, the triple-high growth logic of AI industry capital expenditure, order landing, and performance realization remains unchanged, combined with the intensified differentiation of the macroeconomy strengthening the profit advantage of the technology sector, technology remains a relatively certain mainstream track for the whole year. It is recommended to avoid high-level topics that have been overbought in the previous period, prioritize the layout of sectors with high certainty of industrial prosperity, solid order performance, and relatively lagging high-end segments. Guosheng: The first flight verification of Starship V3 validates core capabilities, and SpaceX's listing is expected to usher in a new era of commercial spaceflight. The acceleration of SpaceX's listing process, combined with the continuous iteration of the Starship series, is reshaping the global commercial space competition landscape and valuation system, and its flagship overflow effect is expected to resonate with the A-share industry chain. On the investment end, it is recommended to focus on high barriers to entry in the upstream of the industry chain, early realization of performance links, and to focus on screening for high-quality enterprises deeply bound to national satellite projects, possessing irreplaceable technological barriers, high capacity reserves that match well with orders in hand, and those directly benefiting from the accelerated deployment of the star chain. This article is reprinted from "Tencent Stock Selection"; GMTEight Editor: Li Fo.