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According to the financial news on July 24, in the early trading on Wednesday, the three major stock indexes opened lower and fell. As of press time, the Shanghai Composite Index fell 0.55% to 2899.21 points, and the Shenzhen Component Index fell 1.17% to 8505.58 points.gemThe Shenzhen Stock Exchange fell 0.83% to 1,657.59 points, and the Science and Technology Innovation 50 Index fell 0.49% to 717.56 points. The total turnover of the Shanghai and Shenzhen stock markets was 301.938 billion yuan.

On the market, comprehensive II, automotive services, education and other industries have the largest declines; components, communication equipment, other electronic II and other industries have the largest gains. In terms of main funds, funds favor consumer electronics, film and television theaters, power and other industries; funds flee semiconductors, securities, passenger cars and other industries.

Institutional Views

Looking ahead to the future market, Everbright Securities said that there may still be favorable policies released in the future, and the market's downside is expected to be limited, and the Shanghai Composite Index is expected to bottom out and rebound around 2,900 points.

CITIC Securities: The new generation of NVIDIA AI servers is expected to bring more than 7 billion yuan of incremental space to the copper cable market

CITIC Construction Investment said that NVIDIA has launched a new generation of GB200 NVL72 servers, with an overall improved degree of integration. High-speed copper cables are used for communication and interconnection inside the cabinet. Passive DAC, as the main solution for electrical communication, does not include optoelectronic converter modules. It has high cost-effectiveness and operational reliability, making it an excellent solution for short-distance transmission. The current copper cables have achieved 224G Ethernet Serdes high-speed communication technology upgrades, with outstanding short-distance cost-effectiveness. Under reasonable assumptions, it is estimated that the incremental copper cable market space brought by NVIDIA NVL72/36 servers exceeds 7 billion yuan. With the trend of high integration of AI servers, CITIC Construction Investment believes that copper connections may become an important component of AI servers.

Everbright Securities: Shanghai Composite Index is expected to bottom out and rebound around 2,900 points

A research report by Everbright Securities stated that the Shanghai Composite Index is not far from 2,900 points, approaching the interim low set in early July. Against the backdrop of recent positive news, there may still be favorable policies released in the future. The market's downward space is expected to be limited, and the Shanghai Composite Index is expected to bottom out and rebound around 2,900 points.

Huatai Securities: Bank fundamentals bottom out and focus on steady growthDividendsBanks and high-performing regional banks

Huatai Securities pointed out that in Q2 2024, banks, insurance fundsPositionsCompared with Q1PositionThe overall recovery. The fundamentals of banks have been consolidated.Dividends, low volatility assets, seize the allocation opportunities, and focus on stable high-dividend banks and high-performing regional banks. Securities sector holdings fell by 0.19% to 0.27% month-on-month. We are optimistic about the structural opportunities of the sector driven by policies. Focus on industry leaders, high-quality central state-owned enterprise securities companies, and characteristic regional securities companies. Insurance sector holdings increased by 0.22% to 0.37% month-on-month. The sector valuation is at a low level, and the mid-year performance of the sector is worth looking forward to. Focus on high-quality industry leaders.