A-shares market express | A-shares differentiation, ChiNext Index briefly surging by nearly 1%. Liquid-cooled servers and computing power concept stocks opening with significant gains.

On March 4th, the three major stock indexes opened with mixed results, with the ChiNext index showing stronger performance, surging nearly 1% at one point. As of the time of writing, the Shanghai Composite Index fell by 0.05%, the Shenzhen Component Index rose by 0.37%, and the ChiNext Index rose by 0.9%. On the market, liquid cooling servers and computing power concept stocks opened sharply higher, with Shenzhen Envicool Technology and Sichuan Crun hitting the limit up. Consumer electronics concepts remained active, with Sichuan Furong Technology hitting the limit up for three consecutive days and MeiG Smart Technology hitting the limit up. CPO concept stocks continued to rise, with TDG Holding hitting the limit up. Precious metals concepts saw a steady rise, with Chenzhou City Jingui Silver Industry hitting the limit up. In terms of declines, the automobile sector opened lower, with Haima Automobile dropping by over 2%. The brokerage sector generally declined, with Founder dropping by over 4%. Looking ahead, the Li Qiusuo team of Zhongjin Strategy believes that the short-term repair market is likely to continue, while the medium-term trend depends on the policy environment, especially the coordinated efforts of fiscal and monetary policies. Hot sectors: 1. Liquid cooling servers and computing power concept stocks strengthened Liquid cooling servers and computing power concept stocks opened sharply higher, with Shenzhen Envicool Technology and Sichuan Crun hitting the limit up in bidding, and Jiangsu Gian Technology and Jones Tech Plc opening up by over 10%. Commentary: Zhongtai's research report pointed out that looking ahead, as the digital economy continues to develop rapidly and data volumes increase significantly, there is a higher demand for computing power infrastructure. Liquid cooling, as an emerging cooling method, has significantly improved heat dissipation efficiency compared to traditional air cooling, and is expected to be utilized by more server manufacturers and application scenarios in the future. 2. Precious metals concepts rising Precious metals concepts saw a steady rise, with Chenzhou City Jingui Silver Industry hitting the limit up, and Beijing Xiaocheng Technology Stock, Sichuan Rongda Gold, Chifeng Jilong Gold Mining, Shandong Gold Mining, Yintai Gold Co.,Ltd., etc., all pushing higher. Commentary: In terms of news, spot gold broke through $2060/ounce. Tianfeng's research report believes that looking ahead to the gold market in 2024, whether it is for financial properties or hedging properties, both support a rise in gold prices. Combined with the current relatively reasonable valuation levels, it is optimistic about gold prices hitting new historical highs. Institutional views: Looking ahead, the Li Qiusuo team of Zhongjin Strategy believes that the short-term repair market is likely to continue, while the medium-term trend depends on the policy environment, especially the coordinated efforts of fiscal and monetary policies. CICC: The short-term repair market still has a chance to continue The Li Qiusuo team of Zhongjin Strategy stated that the indexes have rebounded continuously in the early stage and are still near key integer levels. There may still be disturbances caused by trading level factors, but currently, the A-share market valuation is still at a historically low level, notably lower compared to global markets. They believe that the short-term repair market still has a chance to continue, while the medium-term trend depends on the policy environment, especially the coordinated efforts of fiscal and monetary policies. Haitong: The pace of the short-term market increase may slow down, or even a possibility of temporary consolidation Wu Xinkun team of Haitong Strategy pointed out that the timing and pace of this round of rebound market can refer to historical bottoming first rebound and spring impulse market: reviewing the first rebound market after the bottoming in the past, the market often lasted for about 3 months with an increase of around 25%-30% in the index; from a seasonal perspective, the current period is a spring impulse period with empty data and frequent policies. In history, A-share spring market lasted an average of over 2 months, with an average increase of more than 20% in the Shanghai Composite Index and the CSI 300. Compared to historical trends, the rate of increase in this round of the market is significantly faster, and the market has accumulated some profit-taking pressure. Moving forward, attention should also be paid to the possibility that the pace of the short-term market increase may slow down, or even a possibility of temporary consolidation. Huaxi: With the continuous verification of financial reports, the future market is bound to see increased volatility and differentiation The Li Lifeng team of Huaxi Strategy also pointed out that the National People's Congress will convene next week, and after policy expectations are released, the verification of economic data and corporate financial reports will become more important. It is necessary to pay attention to the improvement in data such as February prices and inflation. Due to the continuous negative growth of the PPI, current A-share corporate profit expectations lack some basic fundamental elasticity. Since the beginning of this year, the proportion of downward revisions in earnings forecasts for listed companies by A-share institutions has also increased. After the general rise in February, as financial reports are continuously verified, the future market is bound to see increased volatility and differentiation. This article is reprinted from "Tencent Self-selecting Stocks", edited by Wang Jie for GMTEight.