The market is expected to continue to reach new highs, focusing on the most resilient growth technology direction. The Growth Enterprise Board Artificial Intelligence ETF HuaBao closed with a 5.47% increase.

On August 18, the ChiNext artificial intelligence ETF Huabao closed up 5.47%, with a trading volume of 5.41 billion yuan. All component stocks rose, with Zhongji Xuchuang up 9.22%, Runze Technology up 8.45%, Rsoft Power up 5.41%, New Yisheng, and Allwinner Technology up more than 4%. Huaxun Securities stated that looking forward, the marginal weakening of economic data in July and the warming of expectations supported by internal policies. In addition, the further increase in expectations of a Fed rate cut in September, the risk appetite is expected to drive the market to continue to reach new highs. In terms of allocation, investors are still advised to focus on offensive directions, including growth technologies with the highest elasticity and performance support: first, growth technologies including AI, robotics, and defense industry. Second, cyclical or performance support such as rare earth permanent magnets, precious metals, construction machinery, motorcycles, agricultural and chemical products, etc. Zheshang Securities stated that considering the nature of this round of bull market as a "systemic 'slow' bull", "benefiting from both good and bad times" is the "underlying theme" of the market, so the combination of "big finance + technology" is expected to continue to outperform the benchmark.