Core Views - The main trend in the market remains a slow bull market, with the need to resolve pressure around the 3400-point level, suggesting a strategy of buying low and selling high [2][8][9] A-Share Market Analysis - On Wednesday, despite the decline in US markets, A-shares demonstrated resilience, with the Shanghai Composite Index reaching a new high for the year, although it could not maintain the upward momentum and closed slightly lower, indicating a divergence between bulls and bears [4][8] - The market is currently facing pressure around the 3400-point level, which is a previous area of concentrated trading, and this needs to be addressed [2][8] - The upcoming earnings season, particularly from mid-March to April, will be critical for assessing corporate profitability, which could lead to performance differentiation among stocks [2][8] - The market has already priced in expectations for AI and tech stocks, but there is uncertainty regarding whether some stocks can meet these high valuations [2][8] Sector Performance - The computing power sector saw a collective surge, driven by news of an AI and cloud computing industry conference in Hangzhou, indicating a potential acceleration in the digital economy [6] - The cultural media sector experienced significant gains, particularly in gaming and media, with a noted 42.75% increase in the first half of 2023, validating previous investment recommendations [7] - Despite a strong performance, the cultural media sector faced setbacks due to regulatory changes affecting gaming stocks, highlighting the volatility in this space [7] Market Sentiment - Overall, the market sentiment remains moderate, with a general trend of more stocks rising than falling, but the profitability effect is average, as indicated by a total trading volume of 16,838 billion [5]
英大证券：策略晨报：震荡慢牛仍是主基调，3400点附近压力需化解，高抛低吸或是占优策略-20250313
British Securities·2025-03-13 06:20