A-shares opening bell express | Three major indexes collectively opened higher, energy and metal sectors leading the gains.

The three major stock indexes of A-shares opened higher collectively, with the Shanghai Composite Index up 0.04% and the ChiNext Index up 0.33%. On the market, energy metals, pork, and photovoltaic equipment sectors performed well. Institutional outlook: Shenwan Hongyuan Group: Short-term financial setting the stage, growth performing Shenwan Hongyuan Group believes that multiple positive factors will overlap in 2026-2027, forming the core range of a bull market. The recent downward pressure in A-shares is weak, while the upward pressure is strong, indicating more focus on long-term positive factors in the market. However, it is also acknowledged that there is still a certain gap between the current market trend and the start of a bull market. In the short term, there may still be speculation-driven index highs, with the market maintaining a high consolidation trend in the third quarter of 2025. Short-term financial setting the stage, growth performing. The overseas AI calculation power industry chain continues to thrive, stablecoin theme, and national defense military industry are directions with high flexibility. Mid-term revaluation of high-stock dividend assets is a trend, and it remains a potential allocation opportunity after the short-term market attention wanes. Guotai Haitong: Stock market still has upside potential before the end of July Guotai Haitong believes that looking ahead, there is still room for stock indexes to rise with key levels being surpassed. It is recommended to focus on growth while downplaying the index. The valuation logic of the Chinese stock market in 2025 lies internally rather than externally, with the fundamental driving force coming from the continuous emergence of Chinese industrial innovation and the systematic reduction of stock market discount rates, driving incremental market entry. The easing of external situations further strengthens the expansion of internal certainty logic. Therefore, it is judged that the stock market still has upside potential before the end of July. In terms of sectors, the rally in financial stocks is not over yet, with the short-term focus on growth sectors such as new technology trends and new consumer trends. Companies with long-term logic made more consensus and investment opportunities with decreasing discount rates, while companies without long-term logic have few opportunities.