Institution predicts that A-shares will stabilize in the first half of the second half of the year and then rise.

Since the beginning of this month, securities firms have successively held mid-term strategy meetings, and various outlooks for the mid-year have been released. How do institutions assess the "second half" of A-shares in 2025? From the beginning of the year until now, the A-share market first set off an AI investment boom under the guidance of DeepSeek. In the second quarter, the market was affected by trade tensions, but quickly stabilized after the "national team" intervened to stabilize the market. In these two stages, technology, new consumption, and innovative medicine have performed well. Regarding the trend of A-shares in the second half of the year, securities firms with names starting with "Zhong" like China International Capital Corporation and Citic Securities believe that the market will show a trend of "first oscillation, then upward" and "first stabilization, then rise." The steady recovery of internal economic vitality is still key, and the opening of market space depends on a package of policies, especially whether fiscal policy can continue to exert efforts to support the trend of recovery. Regarding the direction of allocation in the second half of the year, new consumption and technology are still favored. In terms of style, some analysts believe that the market will rotate from small and medium-sized stock themes to the trend of core assets. Some securities firms also warn that the uncertainty in the market in the second half of the year will mainly come from external challenges, and attention should still be paid to macroeconomic policy responses.