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[Huajin Securities: Strong shocks focus on pro-cyclical and growth] Securities Times Newshouseoffunfreecoins, Huajin Securities Research News pointed outhouseoffunfreecoinsAt present, the downward trend in the growth rate of social finance remains unchanged from the trend of strong shocks in A-shares, which is mainly supported by economic recovery and profit recovery. Continue to focus on pro-cyclical, core assets and TMT in the short termhouseoffunfreecoins.houseoffunfreecoins..

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[Huajin Securities: Strong shocks focus on pro-cyclical and growth] Securities Times News, Huajin Securities Research News pointed out that at present, the downward trend of social finance growth will not change the trend of strong shocks in A-shares, mainly due to economic recovery and earnings recovery Support impact. Continue to focus on pro-cyclical, core assets and TMT in the short term. (1) Short-term pro-cyclical and growth may be the allocation direction. First, according to historical experience, when credit falls, cycle, consumption and some technological growth dominate; currently it points to upstream cycle, consumption, and TMT under the expectation of economic recovery. Second, the relaxation of real estate beyond expectations brings expectations of economic recovery, and related real estate and real estate industry chains, consumption, etc. may dominate. Third, real estate sales and economic recovery are expected to rise. Foreign capital may continue to flow in, and core assets preferred by foreign capital such as food and beverage, electricity, and medicine may benefit. Fourth, market sentiment is rising. When the index rises rapidly, technological growth, securities firms, etc. may be strong. (2) Continue to pay attention in the short term: First, electricity and new technologies benefiting from economic recovery and foreign investment inflows (batteries, photovoltaics, wind power), nonferrous metals, chemicals, food and beverage, tourism, medicine, home appliances, etc.; the second is communications (satellite Internet, low-altitude economy), electronics (semiconductors), media (AI applications), computers (autonomous driving, data elements); the third is real estate, building materials, light industry, home appliances, securities companies, etc. that benefit from real estate relaxation policies and rising risk appetite. Proofread by: Liu Rongzhi