策略周报：指数震荡，坚定科技-20250803

Market Overview - Global markets experienced a broad decline, with different reasons for adjustments in overseas and domestic markets[4] - In July, the U.S. non-farm employment increased by only 73,000, contributing to market concerns[4] - The Federal Reserve maintained interest rates without cuts, signaling a hawkish stance, which affected market sentiment[4] Domestic Market Insights - The adjustment in the Chinese market is seen as temporary, with no significant downward pressure expected[5] - The market reached a peak of 3636 points recently, facing resistance at previous highs[4] Investment Strategy - Strong recommendation to focus on the technology sector, particularly artificial intelligence, during the adjustment period[6] - The technology sector is expected to outperform, with the top three performing industries being pharmaceuticals, communications, and media[7] Artificial Intelligence Focus - Anticipated significant changes in the AI industry over the next 1-2 months, driven by new models and government support[8] - The recent approval of the "Artificial Intelligence+" initiative is expected to boost AI commercialization and application[8] Sector-Specific Opportunities - Positive outlook on domestic computing power, AI applications, and robotics within the AI sector[9] - Domestic computing power is viewed as a cornerstone for future development, with government support likely to continue[9] Risk Considerations - Potential for market performance to fall short of optimistic expectations due to various economic and geopolitical risks[29] - Technology sector faces risks related to technological iterations and commercialization progress not meeting expectations[11]