Market Overview
On Tuesday, A-shares rose and then fell back, with the Shenzhen Component Index dropping over 1% and the ChiNext Index falling over 2%. In terms of sectors, insurance, steel, chemical fiber, real estate, securities, banking, automotive, and hotel catering industries saw the largest gains; while communication equipment, components, agriculture, batteries, optical optoelectronics, and power grid equipment experienced the largest declines. In terms of themes, newly listed stocks, low-carbon metallurgy, equal rights in rental and sales, brokerage concepts, monoclonal antibody concepts, and recombinant proteins led the gains, while CPO concepts, optical communication modules, helium concepts, composite conductors, cultivated diamonds, photolithography machines, high-bandwidth memory, PCBs, F5G concepts, and photolithography machines saw the largest declines.
Hot Sectors
Chemical fibers were active, with Zhongfu Shenying hitting a new high during the day, and Sanfangxiang achieving four consecutive boards. Jiangnan High Fiber, Shenma Shares, Huafeng Chemical, Hengtian Hailong, and Xinxiang Chemical Fiber followed suit.
Chemical stocks surged in the afternoon, with Zhongyida hitting the daily limit, and Zhongyan Chemical, Jiangtian Chemical, Jinrui Mining, Xinjin Road, and Longbai Group also rising.
News
Three Departments: Scientifically Construct Renewable Energy Hydrogen Production Projects
The Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission issued a notice on the comprehensive application pilot work of hydrogen energy. It mentioned promoting carbon reduction in major hydrogen-consuming industries such as refining and coal chemical industries as the main line, scientifically constructing renewable energy hydrogen production projects, and gradually replacing existing fossil energy hydrogen production from coal and natural gas. It encourages the layout of hydrogen storage and transportation infrastructure and the application of vehicles in public transport, urban logistics, urban sanitation, and soil transportation, exploring the application of official vehicles and ride-hailing vehicles.
Brokerage Spring Strategy Meetings Highlight Confidence in Technology and Other Sectors
Strategy meetings are an important window for brokerages to convey their latest views to the market and interact with investors. Recently, brokerages have held a series of spring strategy meetings to explore market opportunities and assess new investment logic. Overall, several brokerage analysts believe that the domestic economy is expected to maintain a steady growth trend, and the core operational logic of the capital market remains positive in the medium to long term. In terms of investment themes, brokerages generally favor opportunities in technology and resources sectors.
Ministry of Industry and Information Technology: Building an Upgraded Version of &#34;5G + Industrial Internet&#34;
On March 16, the Ministry of Industry and Information Technology held a cadre meeting. The meeting emphasized the need to implement this year's key work tasks with a spirit of diligence, promoting a good start to the 14th Five-Year Plan. It aims to deepen the integration of information technology and industrialization, moderately advance the layout of new information infrastructure such as 5G and intelligent computing, and create an upgraded version of &#34;5G + Industrial Internet.&#34; It will carry out actions for the digital transformation of manufacturing, deeply implement the &#34;Artificial Intelligence + Manufacturing&#34; initiative, and cultivate a batch of characteristic intelligent entities. It will accelerate the development of satellite internet.
Jufeng's Viewpoint
On Tuesday, the three major A-share indices opened slightly higher, with the Shanghai Composite Index opening up 0.04%, the Shenzhen Component Index up 0.44%, and the ChiNext Index up 0.85%. Consumer electronics, photovoltaic equipment, construction machinery, energy metals, gaming, motors, and automotive sectors opened slightly higher. Oil and gas extraction, wind power, agriculture and forestry, agrochemical products, coal, and liquor sectors opened lower
The performance of hot sectors has shown divergence, with the chemical fiber sector repeatedly active. The core reason is the continuous rise in crude oil costs, which has driven up the prices of polyester raw materials such as PX, PTA, and ethylene glycol, gradually transmitting to downstream polyester filament and polyester staple fiber. Meanwhile, the hydrogen energy sector, which experienced unusual activity during yesterday's closing auction, opened high and then fell back after the positive news was realized today.
Alongside the rebound and active sectors, there has been a rebound in steel, real estate, insurance, automotive, securities, and banking sectors. At the same time, innovative drugs and CRO sectors have shown active performance driven by the Hong Kong stock market.
In the afternoon, stimulated by another surge in international oil prices, the agricultural chemicals, chemical fiber, and chemical sectors continued to be active, while the oil and gas extraction sector rebounded from a decline. However, sectors such as agriculture, grid equipment, medical services, electricity, semiconductors, and military industry experienced pullbacks, leading to fluctuations in stock indices and a general decline in the market, with the Shanghai Composite Index retracing to 4,050 points and over 4,500 stocks declining.
From the current trend, the market has shown clear divergence, with international oil prices and technology stocks exhibiting a distinct seesaw effect. It is important to note that external black swan events have not yet subsided, and the A-share market will continue to fluctuate. Investors are advised to focus on low-buy opportunities after corrections in previously popular industry leaders.
From a long-term perspective, Jufeng Investment Advisory believes that under policy stimulus, the A-share market is expected to synchronize with the economy and show an upward turning point. In terms of specific investment directions, it is recommended to pay attention to incremental opportunities in sectors with high prosperity such as semiconductors, consumer electronics, artificial intelligence, robotics, and commercial aerospace. For investors with lower risk tolerance, it is advisable to consider broad-based funds such as the CSI A500 ETF and the CSI 300 ETF on dips.
Author: Ding Zhenyu Professional Certificate: A0680613040001

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On Tuesday, the A-share market experienced a pullback after a surge, with the Shenzhen Index falling over 1% and the ChiNext dropping more than 2%. Industries such as insurance and steel performed well, while sectors like communication equipment and components underperformed. Chemical stocks became active in the afternoon, with some individual stocks hitting the daily limit. Three departments issued a notice encouraging renewable energy hydrogen production projects to promote hydrogen energy applications. The brokerage spring strategy meeting showed confidence in the technology and resource sectors, believing that the domestic economy will maintain steady growth. The Ministry of Industry and Information Technology emphasized the promotion of deep integration of information technology and industrialization

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Jufeng Review: The market shrinks in volume and declines broadly, with chemical stocks showing unusual activity in the afternoon