Galaxy Securities: The technology boom is still the main theme for medium to long-term market allocation.

Galaxy Securities research report states that in the short term, A-shares are likely to continue their trend of volatile accumulation, with the market mainly driven by structural trends. Investors should pay attention to the marginal impact of the Federal Reserve's interest rate meeting on market expectations, as well as the structural guidance of mid-year performance forecasts. From a strategic perspective, the temporary adjustment of the growth sector is a healthy correction process, and short-term market fluctuations do not change the long-term prosperity trend of the industry. The technology sector remains the main theme for medium to long-term investment. Based on this round of adjustment, it is recommended to focus on undervalued and fundamentally supported hard technology sub-sectors, with low-position high-quality blue-chip stocks as the foundation, in line with the rotation rhythm. Investment opportunities: focus on the "technology rotation + defensive allocation" layout strategy. Pay attention to: 1. The technology boom and industry trends remain unchanged, with the current technology market being driven by industry trends and performance support logic. Sub-sectors with performance support may continue to benefit. Short-term rotation characteristics may appear, focusing on sub-sectors such as semiconductors, other electronics, commercial aerospace, communication equipment, computing power, storage, humanoid robots, and energy storage. 2. Directions benefiting from product price increases and performance recovery logic, with a focus on basic chemicals, non-ferrous metals, building materials, and steel sectors. 3. Emphasize the value of defensive core portfolios, including coal, coal chemicals, finance, utilities, and new energy.