策略周报20250803：指数震荡，坚定科技-20250803

Group 1 - Global markets are experiencing a downturn, but the reasons for adjustments differ between domestic and international markets. The primary causes for the overseas market decline include lower-than-expected US non-farm payrolls, hawkish signals from the Federal Reserve, and the implementation of global tariffs ranging from 10% to 41% [2][14] - The domestic market's adjustment is attributed to the correction of expectations following important meetings, fluctuations in US-China relations, and technical adjustments. The market reached a peak of 3636 points and is facing resistance at previous highs [2][14][15] Group 2 - The Chinese market is expected to show resilience, with the current adjustment providing a layout opportunity. The factors causing the market adjustment are considered short-term, and there is no significant motivation for a large-scale decline [3][15] - There is a strong recommendation to focus on the technology sector, particularly artificial intelligence, as the main investment theme during this adjustment period [4][16] Group 3 - The market has shifted its focus to the technology sector, with the top-performing industries being pharmaceuticals, communications, and media, while coal, non-ferrous metals, and real estate have seen declines. The relative advantage of the technology sector is expected to strengthen further [5][17] - The outlook for artificial intelligence remains positive, with significant changes anticipated in the next 1-2 months. The approval of the "Artificial Intelligence+" action plan by the State Council is expected to drive the commercialization and application of AI [6][18] Group 4 - Within the artificial intelligence sector, there is a favorable outlook for domestic computing power, AI applications, and robotics. Domestic computing power is seen as a cornerstone for future development, supported by government policies and major technology projects [7][19] - AI applications are expected to gain momentum as new models are released, and the integration of AI into various aspects of life is anticipated to accelerate. Robotics, as a key application area of AI, is also expected to follow the upward trend of the AI sector [7][19]