Huaxi Securities: Three Major Price Increase Themes Support A-Share Market

Huaxi Securities analysis points out that the A-share market in 2026 will shift from technology to the pricing chain, mainly driven by the price increases in industries such as petroleum and petrochemicals, coal, chemicals, and non-ferrous metals. Geopolitical situations will continue to affect the pricing chain, with a higher certainty of price increases in the energy chain and non-ferrous metals, while agricultural products also require attention. In terms of endogenous inflation, traditional industries such as chemicals and steel may experience price corrections. In the technology sector, attention should be paid to the upstream segments of the AI computing power industry chain