英大证券：金点策略晨报—每日报告-20240902

Market Overview - The A-share market has shown signs of recovery after a period of decline, with expectations for continued upward momentum as market sentiment improves and fundamental conditions strengthen [1][19] - On the last trading day, major indices experienced a broad-based rally, with the ChiNext Index rising by 3% and the Shenzhen Component Index increasing by over 2% [2][19] - The overall market sentiment is active, with a significant number of stocks rising, indicating a positive earning effect [2][19] Sector Performance - The real estate sector rebounded strongly, driven by rumors of lowered housing loan rates and relaxed policies in cities like Nanjing, which have positively impacted sales data [3][5] - The semiconductor sector saw substantial gains, with a reported 17.1% increase in the import of semiconductor manufacturing equipment, amounting to 163.86 billion yuan, reflecting a 51.5% year-on-year growth [3][5] - The AI theme stocks surged, supported by continuous positive news and developments in AI technology, indicating a potential shift towards more fundamental-driven investments in the future [4][5] - The new energy sector also experienced a strong rebound, with various sub-sectors like battery technology and wind energy equipment showing significant price increases [4][5] - Consumer electronics stocks have been performing well, with major product launches expected, such as Huawei's foldable phone and the upcoming iPhone 16 [4][5] Investment Strategies - Investors are advised to focus on short-term opportunities and consider a strategy of buying low and selling high, particularly in sectors showing signs of recovery [3][5] - For long-term investments, attention should be given to companies with strong land reserves and those that are returning to stable growth in the real estate sector [3][5] - In the semiconductor sector, it is recommended to focus on companies benefiting from domestic substitution trends and those with growth potential [3][5] - The report suggests that investors should remain cautious with micro-cap stocks lacking fundamental support, as they may face significant downside risks [5][6]