513130

STECH

03032

<p>This week, the market structure has seen a switch between gains and losses as well as high and low valuations, with technology stocks shifting towards traditional domestic demand sectors. The U.S. economy is facing challenges, with a cooling in the service industry and a decline in personal consumption expenditures. The Atlanta Federal Reserve predicts that the U.S. economy will contract by 1.5% in Q1 2025. Chinese technology stocks have also shown divergence, affected by headwinds from overseas economies and inflation</p>

- The market has shifted from AI-driven technology stocks to traditional domestic demand sectors, driven by extreme differentiation in trading volumes and volatility among A-share sectors.  
- Recent U.S. economic data, including a drop in the services PMI and rising unemployment claims, challenges the narrative of AI as a growth engine, indicating potential economic contraction.  
- In China, the recovery of manufacturing PMI and the low A-H premium suggest a favorable environment for cyclical assets, with recommendations for investments in consumer goods, midstream manufacturing, and undervalued sectors like banks and insurance.

Wallstreetcn

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH Index

HSTECH ETF

XL2CSOPHSTECH

YieldMax NVDA Option Income Strategy ETF

NVIDIA

GraniteShares 2x Long NVDA Daily ETF

CSOP HS TECH

XI2CSOPHSTECH

The "March Transition" has begun