External markets surged!

Last night, US stocks rose across the board, opening high and continuing to climb. The Nasdaq surged 2.13%, the S&P 500 rose 1.48%, and the Dow Jones Industrial Average closed up 1.32%. The "Magnificent Seven" index skyrocketed by 3.6%, marking its best single-day performance since March 31.

Individual stocks offered plenty of highlights: Google surged over 4%, surpassing Apple in market cap to take the second spot globally; Amazon rose more than 4%, setting a new all-time high; NVIDIA gained nearly 3%, pushing its market cap back above $5 trillion; Microsoft jumped close to 5%, accumulating a 25% gain in just three days; SanDisk rose over 6%.

The recent tech boom in US stocks was triggered by market expectations that US data centers will not be shut down, directly boosting the entire tech hardware and software sector. Capital has heavily concentrated on AI applications. Google's market cap surpassing Apple's is news that will likely directly stimulate the AI application sector in A-shares today.

A-share tech stocks are highly likely to rebound today, riding the positive momentum from overseas markets, with capital focusing primarily on AI applications. Although tech hardware is also rebounding in sync, its sustainability is expected to be weak, and the rally will likely not last more than three days.

Here is an observation signal for everyone: Keep a close eye on the Korean stock market. If there are two circuit breaker triggers within three days. Last Friday, Korean stocks hit a circuit breaker, followed by a pullback yesterday. If another circuit breaker is triggered today, it would signal a bottom for tech hardware, making subsequent pullbacks buying opportunities. If this signal doesn't appear, friends preparing to bottom-fish in hardware are advised to continue waiting patiently.

Looking back at yesterday's A-shares, the divergence was extreme. Major indices fell collectively: the ChiNext Index dropped 1.24%, and the STAR Market plummeted over 5%, yet nearly 4,000 stocks across both markets closed in the green. This is a classic case of large-cap weights dumping while small-caps bloomed everywhere.

Recall the recent period when chips, optical modules, and memory were the main themes in tech hardware. Everyone was shouting about the vast future of tech, and catching the right track meant easy profits. Now, the plot has completely reversed, with tech leaders facing continuous pressure. Previously, holding optical modules made you a winner; now, holding them is painful. Market style shifts often happen in an instant.

Many friends holding tech hardware are still stubbornly holding on, believing that if the tech rally ends, the bull market will too. The reality is that as the giant falls, all things grow. As the tech sector cools down, opportunities in other sectors are slowly emerging. Don't obsess over a single track in stock trading; no single sector is indispensable. With over 5,000 stocks in A-shares, even without the tech theme, the market still offers money-making opportunities.

There is no permanent main theme in the stock market; capital always flows everywhere. Today tech leads, tomorrow nuclear power strengthens, and the day after, perhaps white liquor takes off. Smart money never "falls in love" with a track; they only look at cost-performance ratios, running wherever opportunities are plentiful and odds are high.

Let's look at the thematic aspects below:

I. Computing Power Network & Power Grid

The high-level meeting once again highlighted the "Six Networks," with short-term focus on the computing power network and power grid as the two main themes.

1. Computing Power Network
The computing power network has been placed on equal footing with the power grid and water network. The NDRC revealed that direct investment in the computing power network during the 15th Five-Year Plan period is expected to reach 4 trillion yuan.
Reminder: The computing power network is not simply IDCs. The core lies in building new intelligent computing bases, cross-regional computing interconnectivity, unified scheduling, and computing power trading. The track is divided into two parts: hardware equipment and computing power operation platforms.
Hardware saw significant adjustments earlier, so avoid it for now. Capital is highly likely to rotate towards computing power operations and platform ends subsequently.

2. Power Grid (Focus on Nuclear Power)
The NDRC and National Energy Administration released the 15th Five-Year Plan for New Power Systems, aiming to initially build a new power system by 2030, with non-fossil energy generation accounting for over half.
Recent positive developments continue to land: Domestically, 4 new nuclear power projects and 8 units were approved, with total investments exceeding 170 billion yuan; policies continue to promote the scaled construction of nuclear power, focusing on next-generation nuclear technology, reducing costs for small modular reactors, with a target of 110 million kilowatts of installed nuclear capacity by 2030.
Overseas catalysts are also constant: Bill Gates visited South Korea on August 14 to discuss cooperation on small modular reactors; major AI companies like Google and Microsoft signed long-term power purchase agreements for nuclear power, creating nuclear-powered computing parks.
Institutions estimate that under full policy support, small modular reactor installations could triple by mid-century, with thousands of units coming online.
With multiple positives stacking up, the nuclear power sector is expected to recover. The core highlight is small nuclear reactors, but continued observation of the rally's sustainability is needed.

II. Innovative Drugs

The innovative drug sector has been continuously correcting, currently falling to the lower edge of the box range, just sitting above previous gap-down levels. Short-term downside space is limited, and technical support exists.
Fundamental catalysts are approaching: After today's close, core companies in the sector disclosed their interim reports, with impressive results. H1 revenue was 28.898 billion yuan, up 38.9% YoY; net profit attributable to shareholders was 11.08 billion yuan, up 33.7% YoY, with adjusted net profit surging 83.2%, alongside the announcement of an interim dividend.
With technical support 叠加 fundamental catalysts, innovative drugs present short-term repair opportunities and can be monitored appropriately.