A股开盘速递 | 创业板指跌1.74% 存储芯片、CPO等板块跌幅居前

Core Viewpoint - The A-share market is experiencing volatility, with major indices opening lower, indicating a cautious sentiment among investors [1] Group 1: Market Overview - The three major A-share indices opened lower, with the Shanghai Composite Index down 0.56% and the ChiNext Index down 1.74% [1] - Sectors such as storage chips, CPO, phosphorus chemicals, and non-ferrous metals are leading the declines [1] Group 2: Institutional Insights - CITIC Securities suggests increasing positions in chemicals, non-ferrous metals, and electric new energy as a better choice, emphasizing the importance of stable corporate overseas environments and AI developments [2] - The report indicates that over 60% of institutional holdings are concentrated in sectors influenced by AI narratives, and it recommends focusing on companies with rising ROE from low points [2] Group 3: Sector Recommendations - China Merchants Securities identifies non-ferrous metals, steel, and building materials as cyclical sectors to consider for investment, driven by expectations of a cyclical upturn in 2026 [3] - The report highlights that price increases in commodities are concentrated in coal, non-ferrous metals, certain chemicals, and the renewable energy sector [3] Group 4: Recovery Opportunities - Industrial Securities emphasizes the importance of cyclical sectors like steel, chemicals, and building materials, while also exploring low-position technology growth opportunities [4] - The report notes that the tightening of overseas liquidity is unlikely to lead to systemic risks, and A-shares may remain resilient under stable economic and policy expectations [4] Group 5: Future Trends - CITIC Construction Investment predicts that resource products may become a new main investment direction in A-shares following the technology sector, with a focus on key resources and military industry [5] - The report highlights sectors such as new energy, non-ferrous metals, basic chemicals, and military equipment as key areas of interest for future investment [5]