Growth stocks remain bullish, institutions suggest positioning in undervalued growth sectors.

On August 5th, the Shanghai Composite Index fluctuated upwards and surpassed the 3600-point mark, leading to a warming market sentiment. Institutions generally believe that the previous adjustment is more of a temporary consolidation after continuous growth, rather than a trend reversal. Policies continue to support technological innovation, and various funds are accelerating their entry into the capital market, with new dynamics such as AI, robotics, and innovative drugs continuously accumulating. The mid-term logic of the technology growth theme is still favored. In this context, several institutions suggest utilizing the fluctuation window to layout undervalued growth areas, focusing on the defense industry, AI applications, wind power, and other broad technology sectors, to seize the opportunity for "high cut low" allocation.