指数蓄力期，把握结构性行情机会

Market Overview - The A-share market showed a mixed performance last week, with the Shanghai 50 and ChiNext Index rising by 1.22% and 1.38% respectively, indicating stable performance in blue-chip and growth stocks, while the Sci-Tech 50 fell by 1.10% and the CSI 500 and CSI 1000 experienced slight pullbacks, reflecting weaker performance in small-cap stocks [1] - In terms of industry sectors, beauty care, automotive, and transportation sectors led the gains, each rising over 2%, while sectors like computing, defense, and media showed relatively weaker performance [3] Key Industry News - The brain-computer interface (BCI) sector is gaining attention, with the establishment of China's first clinical and translational BCI ward at Beijing Tiantan Hospital on May 17. This initiative aims to advance research, clinical trials, and technology transfer in BCI, potentially enhancing market recognition and commercialization of non-invasive BCI products by 2025 [4] Market Outlook - The market is currently in a phase of adjustment, with trading volume remaining around 1 trillion, and major indices have broken below the 5-day moving average. The focus will be on whether the market can regain momentum and volume to surpass this level [5] - Recent regulatory changes in merger and acquisition policies by the China Securities Regulatory Commission aim to enhance the restructuring market, which may lead to increased activity in this area [5] - Economic indicators released on May 17 show positive trends in consumption, investment, and industrial production, with excavator sales up 17.6% year-on-year in April, indicating a robust recovery in the construction sector [6][7] - The Tianjin government has launched an action plan to promote AI innovation from 2025 to 2027, targeting breakthroughs in key technologies and significant revenue growth in the AI sector [7] Strategic Focus - The market is expected to see structural opportunities, particularly in hard technology mergers and acquisitions, consumer sectors supported by domestic demand strategies, and improvements in the non-ferrous metals sector [8]