创业板指26日涨超2% 算力、医药领涨

Market Performance - The A-share market showed mixed results with the Shanghai Composite Index down by 0.15%, while the Shenzhen Component and ChiNext Index rose by 1.02% and 2.14% respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.7972 trillion yuan, a decrease of 29 billion yuan compared to the previous trading day [1] CPO and AI Sector - The CPO sector continued to perform strongly, with Changguang Huaxin hitting a 20% limit up and Zhongji Xuchuang rising over 13% [2] - Alibaba Group reported a revenue of 247.795 billion yuan for Q2 of FY2026, exceeding market expectations, with a year-on-year growth of 15% after excluding sold businesses [2] - Alibaba Cloud's revenue reached 39.824 billion yuan, marking a 34% year-on-year increase, driven by strong AI demand and public cloud revenue growth [2] - The CEO of Alibaba stated that the demand for GPUs is currently at full capacity, indicating a supply-demand imbalance in AI resources for the next three years [2] - CITIC Securities reported that Alibaba's capital expenditure for the quarter was 31.5 billion yuan, with a total of approximately 120 billion yuan spent on AI and cloud infrastructure over the past four quarters [2] Pharmaceutical Sector - The pharmaceutical sector showed strong performance, driven by the flu season, with companies like Yuyuan Health and Huaren Health hitting a 20% limit up [3] - The Chinese CDC reported that flu activity is currently at a rising stage, with the H3N2 subtype accounting for over 95% of cases [3] - Companies like Zhenbaodao have responded to investor inquiries regarding their flu treatment drugs and vaccines, indicating ongoing production and sales [3] - Everbright Securities noted that the global interest rate cut cycle benefits innovative assets, and the aging population is driving increased healthcare spending, expanding global demand for pharmaceuticals [3] Foreign Investment Sentiment - Foreign investment sentiment remains positive towards Chinese assets, with Morgan Asset Management forecasting a 7.7% annualized return for A-shares over the next 10 to 15 years [4] - The report cites three main drivers: long-term economic resilience, stronger shareholder return policies, and potential valuation upside due to improved corporate governance and increased international investment [4] - Morgan Stanley's chief equity strategist expressed cautious optimism, highlighting investor focus on positive signals for the Chinese market while being wary of rising market volatility [5]