早盘直击｜今日行情关注

Core Viewpoint - The spring market has entered a phase of fluctuation after a strong upward trend, with the Shanghai Composite Index ending its 17-day rally, indicating a healthy adjustment for further market development [1] Market Outlook - The market is expected to shift from theme-driven to fundamentals-driven, with technology growth remaining the main focus. The leading sectors since the spring market began have been event-driven, such as commercial aerospace and brain-computer interfaces, but their short-term stability is low due to a lack of performance support [1] - As the market enters a fluctuation phase, trading volume is likely to decrease, and attention may return to sectors driven by performance and fundamentals. However, the main driving factor for the spring market remains the increase in market risk appetite, with technology growth sectors expected to lead [1] Hot Sectors - In January, technology and raw materials showed strong performance, with high dividend stocks also being a focus for potential gains in the upcoming quarterly reports [2] - Key areas to watch include: 1. AI hardware, with a significant increase in token usage for major AI models, indicating a peak in AI applications by 2026 [2] 2. The trend of robot localization and integration into daily life, with opportunities arising in sensors, controllers, and dexterous hands as the market anticipates updates to Tesla's humanoid robot [2] 3. The ongoing trend of semiconductor localization, focusing on semiconductor equipment, wafer manufacturing, materials, and IC design [2] 4. New energy materials benefiting from rapid growth in domestic and overseas storage demand, with signs of supply shortages and price increases expected to continue through 2026 [2] 5. Innovative drugs are entering a recovery phase after four years of adjustment, with positive net profit growth for four consecutive quarters since Q3 2024, and an expected upward trend in 2026 [2] Market Review - The market experienced its first adjustment of the spring rally, characterized by moderate fluctuations and a decline in trading volume from 3.6 trillion to 2.9 trillion. The number of declining stocks exceeded 3,100, with over 100 stocks falling more than 10% [3] - Leading sectors included electronics, chemicals, non-ferrous metals, construction materials, and power equipment, while sectors such as military, media, computing, retail, and textiles saw declines [3]