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Phoenix Finance reported that on August 23, the market rebounded in the morning, and the three major indexes all rose slightly. As of midday close, the Shanghai Composite Index rose 0.28%, the Shenzhen Component Index rose 0.37%, and the ChiNext Index rose 0.06%. The half-day turnover of the Shanghai and Shenzhen stock markets was 337.4 billion, an increase of 600 million from the previous trading day.

On the market, Huawei concept stocks exploded across the board, with HiSilicon and Hongmeng leading the gains. More than 10 stocks including Ubox, Century Dingli, Shenzhen Huaqiang, and Tuowei Information hit the daily limit. Large financial stocks fluctuated higher, with Zheshang Securities rising more than 5% and Ping An of China rising more than 4%. Cross-border payment concept stocks were active again, with Dongfangtong rising more than 10% and Beijing North hitting the daily limit. On the downside, solid-state battery concept stocks collectively adjusted, with many stocks such as Mengguli falling more than 5%.

In general, more stocks fell than rose, with more than 2,800 stocks falling in the entire market. In terms of sectors, Huawei HiSilicon, Huawei Hongmeng, Xingshan concept, insurance and other sectors had the largest gains, while solid-state batteries, precious metals, monkeypox, dairy and other sectors had the largest declines.

Institutional Views:

China Merchants Securities believes that the market has recently fluctuated and fallen under the influence of large fluctuations in the external market and the lack of significant improvement in domestic demand, and the trading volume is at a low level. Looking ahead, on the one hand, the semi-annual report performance is about to be disclosed, and sectors with higher performance growth are expected to receive more favor, such as some TMT industries, export chains, resource products and some consumer service fields; on the other hand, the recent high-frequency data performance is relatively general, but there are still some areas of economic improvement that deserve attention, including mid-to-high-end manufacturing industries such as transportation equipment, automation equipment, and engineering machinery, TMT fields such as consumer electronics, semiconductors, and games, as well as essential consumption and chemical pharmaceuticals.

Combining multiple dimensions such as the meso-economic situation, profitability, chip distribution, valuation, trading, cycle stage and track value, this issue recommends focusing on sub-sectors such as electronics (consumer electronics, semiconductors), mechanical equipment (rail transit equipment, marine equipment, construction machinery), food and beverages (liquor, food processing, condiments, etc.), medicine (chemical pharmaceuticals), and precious metals.