汇丰晋信基金：市场关注点进一步集中至业绩确定性更高的算力基础设施

Core Viewpoint - The technology growth sector is experiencing active performance driven by policy expectations and industry trends, with a shift from broad market gains to a focus on companies with higher earnings certainty in computing infrastructure and software applications [1] Group 1: Market Performance - The market is transitioning from a broad rally to a more differentiated performance as earnings begin to materialize [1] - Attention is increasingly directed towards computing infrastructure and software applications that demonstrate commercial viability [1] Group 2: Policy and Industry Support - The Federal Reserve's interest rate cut cycle is gradually taking shape, providing a supportive backdrop for the market [1] - The "14th Five-Year Plan" emphasizes the importance of technological innovation and the establishment of a modern industrial system, positioning these areas at the core of future growth [1] - Industry prosperity and policy catalysts are identified as key supports for the continuation of market trends [1]