Group 1 - The domestic economy showed strong resilience in Q2, and the "anti-involution" policies are continuously being promoted, leading to a steady rebound in A-shares in July [1] - In August, uncertainties from overseas tariffs may arise, while expectations for a Federal Reserve rate cut are increasing, and domestic policies are likely to continue supporting the stabilization of the capital market [1] - The A-share mid-year reports are entering a concentrated disclosure period, which may enhance the importance of performance trading [1] Group 2 - Fund manager Han Lin from Great Wall Fund remains relatively optimistic, focusing on structural opportunities despite potential adjustments in previously high-performing thematic stocks during the earnings disclosure period [1] - Concerns over the escalation of the US-China tariff conflict may persist, but risk appetite is expected to rebound after the new round of tariff events materializes in mid to late August [1] - In the TMT sector, Han Lin noted that overseas internet giants' earnings reports and capital expenditures have met or slightly exceeded expectations, alleviating previous market concerns about the sustainability of AI logic [1] Group 3 - The penetration rate of ASIC chips is accelerating, boosting the value of related segments such as optical modules and PCBs [1] - The performance potential of overseas computing power chains has improved, with increasing interest gradually spreading to domestic computing power and applications [1]
长城基金韩林:TMT热度向国产算力、应用扩散
Xin Lang Ji Jin·2025-08-13 06:47