Guojin Securities warns markets have focused on macro tensions and may have
overlooked AI supply‑chain shifts; while investors debate AI’s path, non‑AI real
assets and export sectors could become the primary market driver. The firm says
the commodity rebound is established and the energy+metals complex is shifting
from the downtrend since March into a broad upswing. Preferred resource ranking:
non-ferrous metals (gold, copper, aluminum) first, then energy (coal, oil and
petrochemicals). Watch construction machinery, power‑grid equipment and
refining/petrochemical stocks as demand from southern markets aligns with
Chinese manufacturing. High‑dividend, low‑volatility, stable cash‑flow dividend
names are likely targets for absolute‑return investors’ reallocation.
