Galaxy Securities said that the short-term index level is still fluctuating repeatedly due to overseas fluctuations and chip structure disturbances, and the game and rebalance between sectors continues. However, external shocks are more reflected in phased disturbances, and domestic policy signals and industrial main line logic have not wavered. Looking at the second half of the third quarter, the market will focus on structural rotation restoration. It is recommended to seize structural opportunities around the main policy line and the direction of economic verification. Next week, focus on the following events: overseas macro-centralized pricing; the second US GDP valuation for the second quarter; the July Core PCE and Jackson Hole Chairman's speeches will be implemented one after another; technology company performance verification. Nvidia's earnings report is an important weather vane for observing the expected continuation of global AI capital expenditure; the disclosure of A-share interim reports is coming to an end, or it may become an important window for the intensive release of alpha stocks. The profit data for industrial companies to be released next week provides a total scale for profit recovery; the industry level is focusing on the 2026 Wenchang International Aerospace Forum, etc.

Galaxy Securities said that the short-term index level is still fluctuating repeatedly due to overseas fluctuations and chip structure disturbances, and the game and rebalance between sectors continues. However, external shocks are more reflected in phased disturbances, and domestic policy signals and industrial main line logic have not wavered. Looking at the second half of the third quarter, the market will focus on structural rotation restoration. It is recommended to seize structural opportunities around the main policy line and the direction of economic verification. Next week, focus on the following events: overseas macro-centralized pricing; the second US GDP valuation for the second quarter; the July Core PCE and Jackson Hole Chairman's speeches will be implemented one after another; technology company performance verification. Nvidia's earnings report is an important weather vane for observing the expected continuation of global AI capital expenditure; the disclosure of A-share interim reports is coming to an end, or it may become an important window for the intensive release of alpha stocks. The profit data for industrial companies to be released next week provides a total scale for profit recovery; the industry level is focusing on the 2026 Wenchang International Aerospace Forum, etc.