机构展望 | A股运行中枢有望上新台阶 挖掘半年报超预期线索

Core Viewpoint - The A-share market is showing positive signals with the Shanghai Composite Index remaining above 3500 points, driven by multiple factors including "anti-involution" policies, stable capital market policies, and improvements in corporate earnings [1][2] Group 1: Market Trends - The A-share market is expected to continue its upward trend, with the main index potentially reaching new highs [2] - The stability of capital market policies has created a "buffer" against macroeconomic disturbances, enhancing investor confidence [2][3] - The "anti-involution" policies are connecting short-term economic highlights with medium-term supply-demand improvements, alleviating concerns about demand decline in Q3 [2][4] Group 2: Sector Performance - The technology sector is experiencing high growth, with recent performance in the AI computing industry exceeding expectations, contributing to a shift from value to growth stocks [2][6] - Companies with significant overseas revenue, particularly in sectors like computer equipment and general machinery, are showing notable earnings upgrades, indicating the strength of the "going abroad" trend [4][5] Group 3: Investment Strategies - Institutions suggest focusing on companies with strong earnings certainty during the semi-annual report period, particularly those benefiting from the "going abroad" trend [4][5] - A balanced asset allocation strategy is recommended, combining high-dividend assets and bonds with growth-oriented technology sectors to achieve risk and return balance [5][6]