Market Overview - The report indicates that the A-share market may experience a phase of adjustment and volatility in the short term, particularly as the National People's Congress (NPC) convenes to set economic targets and make decisions on special government bond issuance and deficit adjustments [1][4][8] - The technology sector is expected to continue its fluctuations, while sectors such as pharmaceuticals, medical care, and new energy, which have seen significant adjustments in recent years, may present opportunities for investment [1][4][6] Sector Analysis - The report highlights that the new energy sector, including battery and solid-state battery industries, has shown strong performance, suggesting that the sector is poised for a technical rebound due to ongoing demand driven by carbon neutrality goals and the rapid development of the electric vehicle industry [6][7] - The pharmaceutical and medical sectors have also seen collective gains, with the report noting that the pharmaceutical sector has experienced significant declines over the past four years, making it attractive for investment as it is currently trading at a relatively low price-to-earnings ratio of around 31 times [7][8] - The report mentions a surge in stocks related to controlled nuclear fusion, driven by positive news regarding investments in fusion energy companies, although the sustainability of this rally is yet to be determined [7][8] Investment Strategy - Investors are advised to manage their positions carefully and adjust their portfolios flexibly based on sector performance and policy developments, particularly after the NPC concludes [2][4][9] - The report suggests that for technology stocks that have seen significant gains and are overvalued, it may be prudent to consider partial profit-taking, while remaining optimistic about the long-term trajectory of the technology sector [2][9]
英大证券：策略晨报：短期科技股适当观望等待，关注“两会”政策动向，灵活调整投资组合-20250305
British Securities·2025-03-05 01:55