IM更具上涨弹性

Group 1 - The A-share market shows signs of recovery, with major indices rebounding after a low opening on April 7, particularly the CSI 1000 index, which may have stronger technical rebound potential if the overall market continues to recover [1][6] - The CSI 1000 index's constituent stocks have historically shown an average excess return of 2.3% during the performance vacuum period from May to July [1][6] - The FTSE A50 index rose over 1.3% during the May Day holiday, while the Hang Seng Tech Index increased by more than 3% on May 2, indicating positive momentum in the tech sector [1][4] Group 2 - Recent domestic data highlights significant growth in cross-regional movement, with over 1.1 billion people traveling during the holiday, marking a 26.79% increase compared to 2019 [3] - Civil aviation transport also saw growth, with 112,000 flights executed nationwide from April 28 to May 5, a 6.4% increase from 2024 and a 12.6% increase from 2019 [3] - The Central Political Bureau meeting emphasized the importance of consumption in driving economic growth and proposed to accelerate the issuance and use of special local government bonds [5] Group 3 - The easing of US-China trade tensions and positive earnings reports from major US tech companies have alleviated market concerns regarding the sustainability of AI demand [4][6] - The "Magnificent Seven" tech companies are projected to have a net profit growth rate of 21.6% and a revenue growth rate of 9.7% by 2025, indicating resilience in AI demand [4] - The Hang Seng Tech Index experienced significant gains driven by these developments, reflecting a positive outlook for the tech sector [4]