股市周评：慢牛走势不变，科技低位补涨或迎主升行情

Market Performance - The A-share market maintained a strong performance last week, with major indices rising, particularly the CSI 500 which led with a 3.28% increase, while the CSI 1000 rose over 2.36% [1] - The construction materials, steel, non-ferrous metals, engineering machinery, and coal sectors showed significant gains, each exceeding 6%, while banking and diversified finance sectors experienced declines, indicating a clear rotation of market hotspots [3] - Northbound capital saw a substantial net sell-off totaling 69.817 billion RMB for the week, with notable sell-offs on July 23 and July 25 amounting to 41.445 billion RMB and 40.696 billion RMB respectively, reflecting a cautious attitude from foreign investors as the index approached 3600 points [3] Key Industry News - The photovoltaic sector has shown remarkable performance, with silicon wafer prices rising significantly from July 21 to 24. The average transaction price for N-type G10L monocrystalline wafers increased by 4.76% to 1.1 RMB per piece, while N-type G12R wafers surged by 870% to 1.25 RMB per piece, and N-type G12 wafers rose by 6.67% to 1.44 RMB per piece [4] - Longjiang Securities noted that the photovoltaic industry, facing severe supply-demand imbalances and profit pressures, is expected to benefit from recent policy enhancements aimed at regulating low-price competition and promoting the orderly exit of outdated production capacities [4] Future Market Outlook - Longjiang Securities' senior investment advisor Liu Lang observed that the market maintained a bullish sentiment, with the Shanghai Composite Index fluctuating around 3600 points and the Shenzhen Component Index and ChiNext Index reaching new highs for the year [5] - The market style is shifting, with significant capital inflow into lower-priced technology stocks, particularly in the semiconductor and AI sectors, which collectively attracted over 10 billion RMB, driving the STAR 50 Index to surpass its May high [6] - Key macroeconomic data indicated a decline in profits for industrial enterprises, with total profits for the first half of the year at 34,365 billion RMB, down 1.8% year-on-year, and a 4.3% decline in June [6] - The China Securities Regulatory Commission emphasized the need to consolidate the market's recovery and promote long-term capital inflow, alongside reforms in public funds and mergers and acquisitions [6] Agricultural and Insurance Developments - The Ministry of Agriculture and Rural Affairs, along with ten other departments, issued a plan to promote agricultural product consumption, focusing on optimizing supply, innovating circulation, and activating market demand [7] - The insurance industry announced a reduction in the guaranteed interest rates for traditional life insurance products, with rates adjusted from 2.5% to 2.0% for ordinary life insurance and from 2% to 1.75% for participating insurance [7] AI Innovations - Tesla showcased its latest advancements in AI at the World Artificial Intelligence Conference, including smart electric vehicles and humanoid robots, highlighting the deployment of its Robotaxi service based on a visual architecture [8] - Alibaba introduced its self-developed AI glasses, "Quark AI Glasses," which integrate various functionalities and support multiple applications within the Alibaba ecosystem [8] Investment Strategy - From a medium to long-term perspective, technology sectors such as robotics, semiconductors, and AI applications are recommended for investment due to improved cost-effectiveness after a three-month correction [8] - The "anti-involution" sectors, including photovoltaic, lithium battery, automotive, steel, construction materials, coal, and pork, are also highlighted as potential investment opportunities [8] - The non-ferrous metals sector is showing signs of a "dilemma reversal," with noticeable profit improvements in cyclical industries [8]