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cailianshe reported on september 3 that the market opened lower and fell throughout the day yesterday. the shanghai composite index hit a new low in the adjustment, and the chinext index fell nearly 3%. overall, more stocks fell than rose, and more than 4,400 stocks fell in the entire market. the turnover of the shanghai and shenzhen stock markets was 705.7 billion, a decrease of 170.9 billion from the previous trading day. in terms of sectors, insurance, st sector, coal, banking and other sectors had the largest gains, while cssc, semiconductor, liquor, game and other sectors had the largest declines. as of yesterday's close, the shanghai composite index fell 1.1%, the shenzhen component index fell 2.11%, and the chinext index fell 2.75%.

at today's brokerage morning meeting, cicc believes that the current market has many bottom-biased characteristics and the downside risk is limited; citic construction investment said it is optimistic about tesla and the leading humanoid robot industry chain; huatai securities suggested that the real estate market will continue the off-season and pay attention to the "golden september and silver october".

cicc: the current market has many bottom-oriented characteristics, and the downside risk is limited

cicc pointed out that the market fluctuated downward in august, with transaction volume and turnover rate falling, and investor trading sentiment fell to a relatively low level in recent years. structurally, with the market adjustment, the rotation speed of growth themes was fast and the sustainability was not strong. the chinext index continued to adjust, and some high-dividend sectors with supported performance maintained relative returns. the stock prices of banks, highways and other companies hit record highs and then adjusted. looking ahead to the future market, the current market has many bottom-biased characteristics, and the downside risk is limited. the restoration of investor confidence requires the accumulation of more positive factors. the focus of subsequent attention will be on the strength of countercyclical adjustments of domestic monetary and fiscal policies.

citic securities: optimistic about tesla and the leading humanoid robot industry chain

cicc said that it is optimistic about the benefits of domestic integrated joints, leading reducers, and leading motor companies from the mass production of robots, and recommends paying attention to the technological breakthroughs and sample delivery progress of lead screw companies. as one of the links with the strongest demand for cost reduction, six-dimensional force and tactile sensors are optimistic about the advantages of domestic companies achieving technological breakthroughs + obvious price advantages + higher service flexibility. in november 2023, tesla announced changes in its technical solutions, accompanied by the expectation of walking tests. the domestic humanoid robot innovation center was established, triggering a convergence of market conditions in subdivided links such as lead screws. after two years of development, the humanoid robot industry is currently in the mass production stage from 1 to n. cicc believes that the progress of tesla robot mass production, the iteration of large ai models, and the industrialization and implementation of humanoid robots at home and abroad are still the core influencing factors.

huatai securities: real estate continues to be in the off-season, pay attention to the "golden september and silver october"

huatai securities pointed out that seasonal influences such as high temperatures will gradually weaken in the future. it is expected that real estate companies may take advantage of the traditional peak season to launch more preferential discounts to stimulate sales. in addition, the current mortgage interest rates have dropped to the lowest level in history. it is expected to have a certain stimulating effect on the recovery of demand. next, we can pay attention to the performance of new home sales in the "golden september and silver october".