International
1. Jefferies warns: US AI investment will reach record levels, but a slowdown could impact the economy.
2. Capital Economics warns: Signs of a US stock market cycle nearing its end are increasing; a continued correction is possible over the next year, with US Treasury yields expected to decline in tandem.
3. The IMF expects the Bank of Japan to raise interest rates once more to the neutral level, emphasizing the need for continued policy flexibility.
4. Commerzbank: Increased resilience in the UK economy warrants further rate hikes, but fiscal risks could still weigh on the pound.
Domestic
1. CICC: The domestic fundamentals and medium-term logic remain unchanged; there is no need to be pessimistic about the market's medium-term trend.
2. CITIC Securities: We recommend focusing on investment opportunities in companies within the HDD, DRAM, and NAND sectors.
3. CITIC Securities: The asset allocation value of traditional Chinese medicine is becoming increasingly apparent; focus on two investment themes.
4. CITIC Securities: AI EDA is becoming the next important direction for the application of AI agents; the value of EDA is expected to be reassessed.
5. Guosheng Securities: Rising overseas gas prices are beneficial to domestic upstream gas producers and midstream trading companies.
