十大券商一周策略：海内外多重事件落地，“慢牛行情”趋势不变，高股息配置价值初步显现

Group 1 - The market is expected to show a "first suppression and then rise" pattern in August, with a consolidation phase in early to mid-August and a potential recovery towards the end of the month [1][2] - Economic recovery is weak but supported by continuous policy stability and liquidity easing, with incremental funds flowing into the market [1][2] - Focus on "dumbbell strategy" for investment, balancing between high-quality growth stocks and sectors like AI, military trade, semiconductors, and innovative pharmaceuticals [1][2][3] Group 2 - The market is likely to experience increased volatility in August, with a preference for mainstream styles and small-cap stocks due to liquidity-driven market characteristics [3] - Key sectors to watch include non-bank financials, pharmaceuticals, power equipment, machinery, defense, and computers, with a focus on high-growth areas like AI applications and hardware [3][5] - The upcoming earnings season is crucial, with expectations for improved performance in high-demand sectors [4][5] Group 3 - Liquidity is expected to remain ample in August, with continued net inflows from financing, private equity, and industry ETFs, despite potential tightening pressures from government bond supply [4] - The market's risk appetite is improving, with significant net inflows into A-shares, indicating a positive trend for the second half of the year [4][5] - The focus on sectors with high profitability and competitive advantages, such as TMT and essential consumer goods, is recommended for investment [5][6] Group 4 - The World Artificial Intelligence Conference showcased significant advancements in AI commercialization, with over 800 companies participating and a record exhibition area [6] - The conference highlighted the growing importance of AI technologies and their applications across various industries, indicating a strong investment trend in this sector [6] Group 5 - The political landscape and economic policies are expected to support a stable recovery, with a focus on enhancing the attractiveness of the capital market and fostering long-term growth [24][25] - The upcoming Fourth Plenary Session is anticipated to set the stage for the "15th Five-Year Plan," which will focus on new productive forces and technological innovation [26][27]