A-share morning express: The ChiNext Index fell by 0.15%. Precious metals, insurance, innovative medicine, and other sectors are at the forefront of the decline.

On July 1st, the three major stock indexes of A-shares opened with mixed gains and losses, with the Shanghai Composite Index falling by 0.09% and the Growth Enterprise Market Index falling by 0.15%. On the market, the logistics and internet e-commerce sectors were active, while the precious metals, insurance, and innovative pharmaceutical sectors were among the top losers. Market outlook from institutions Huabao Securities: The logic of the AI industry has not faded, and it can continue to focus on the science and technology theme Huabao Securities believes that the logic of the AI industry has not faded. Overall, technology stocks are still the main theme, short-term still relatively strong, but funds may gradually switch within the technology sector, and the differentiation in specific directions will become more apparent. In terms of operations, one can continue to focus on the science and technology theme, but should pay attention to the internal differentiation rhythm and focus on specific directions that have previously experienced excessive decline or stagnation. Orient: The strong consensus of the market on the AI industry trend will mainly focus on earnings forecasts; it is expected that the Shanghai Composite Index will have the possibility to challenge the area near 4130 this week Orient stated that looking ahead to July, the strong consensus of the market on the AI industry trend will mainly focus on earnings forecasts. Within the technology sector, there may be differentiation due to different earnings, and stocks with earnings support will continue to perform well. From a technical perspective, the Shenzhen Component Index and the Growth Enterprise Market Index still show a clear trend of fluctuation and rise, while the Shanghai Composite Index is relatively weaker. However, two consecutive days of positive candlesticks have basically reversed the big negative candles from last Friday. It is expected that this week may challenge the upper channel near 4130, which has come down since the high point of 4258. Founder: Technology growth is likely to remain the main theme in the second half of the year, but market volatility will increase Founder believes that currently, both innovation and entrepreneurship indices have reached new highs since the start of the market, but there is severe structural differentiation. The hotspots are concentrated in the AI hardware and semiconductor sectors with high earnings growth, and the stocks in these two directions have already shown significant increases, further intensifying the trend. This round of structural technology bull market is still in progress, with the core logic not fundamentally loosening, but DRIVE is transitioning from "emotion+expectation" to "earnings+orders". Technology growth is likely to remain the main theme in the second half of the year, but market volatility will increase. In terms of allocation, focus on investment opportunities in the battery, computing power, Siasun Robot&Automation, brokerage, and resources sectors. This article is reprinted from "Tencent Stock Selection", edited by Xing Hao.