Internationally
1. HSBC: Expects a structural recovery in A-share earnings, with the largest upward revisions to earnings forecasts for materials, energy, and information technology.
2. HSBC: Prefers investment-grade bonds for coupon income; gold remains an effective safe-haven and risk diversification tool.
Domestically
1. CITIC Securities: Expects a slowdown in the pace of bond market gains, with the 10-year Treasury yield consolidating around 1.70% in the short term.
2. CITIC Securities: Major analog IC manufacturers have initiated a new round of price increases, potentially benefiting domestic analog manufacturers.
3. CITIC Securities: Domestic gas turbine manufacturers are showing an upward price trend, potentially further improving profitability.
4. CITIC Securities: Significant progress is expected in both domestic and international AI computing power and embodied intelligence industries.
5. CITIC Securities: Suggests incorporating exchange rates into earnings analysis, focusing on the earnings expectation gap of companies with high overseas expansion and high exchange rate sensitivity.
6. Huatai Securities: Risk assets may continue to outperform in the second half of the year. 7. Huatai Securities: With El Niño approaching, focus on the sugar, natural rubber, and palm oil industry chains.
8. Guojin Securities: Optimistic about the development prospects of the solid oxide fuel cell (SOFC) industry chain.
