中信证券：5月关注新技术和产业题材轮动、海外科技映射链修复及服务业扩内需政策落地

Core Insights - The report from CITIC Securities indicates that progress in US-China trade negotiations may be limited until all unilateral tariffs on China are completely lifted [1] - Domestic policies are characterized as stabilizing and responsive, with April representing the first wave of experimental and preventive measures [1] - The market sentiment is not considered low overall, with the technology sector being more sensitive to risk appetite recovery compared to pharmaceuticals and consumer sectors [1] Group 1 - In May, the focus will be on the rotation of new technologies and industrial themes, the repair of overseas technology mapping chains, and the implementation of domestic demand expansion policies in the service industry [1] - The current market environment favors themes that are less sensitive to performance, as the clearing of chips has been relatively thorough [1]