Wang Zonghao, head of China's stock strategy research at UBS, said at a media conference on Tuesday that it is currently possible to buy technology stocks again. At the same time, considering factors such as capital, he is more optimistic about A-shares compared to Hong Kong stocks. Wang Zonghao said that the factors that previously triggered the pullback in technology stocks include changes in the AI narrative, concentration of positions, and reduction in leverage. All three factors have now changed. However, it is expected that investors will look for more non-AI sectors in the second half of the year, so the overall stock market sector performance will not be as narrow as in the first half of the year. Compared to Hong Kong stock IPOs and placements, A-shares are relatively well-funded, and at the same time, they are more optimistic about hardware stocks. A-shares also account for more shares. Due to the dumbbell configuration, they are also optimistic about bank stocks, and recommend colored sectors that are not so relevant to AI, as well as overseas themes. Consumption is more cautious, and incremental policies may be more focused on investment. Continuing to be optimistic about US technology stocks, the target for the S&P 500 index at the end of the year is 8,100 points.

Wang Zonghao, head of China's stock strategy research at UBS, said at a media conference on Tuesday that it is currently possible to buy technology stocks again. At the same time, considering factors such as capital, he is more optimistic about A-shares compared to Hong Kong stocks. Wang Zonghao said that the factors that previously triggered the pullback in technology stocks include changes in the AI narrative, concentration of positions, and reduction in leverage. All three factors have now changed. However, it is expected that investors will look for more non-AI sectors in the second half of the year, so the overall stock market sector performance will not be as narrow as in the first half of the year. Compared to Hong Kong stock IPOs and placements, A-shares are relatively well-funded, and at the same time, they are more optimistic about hardware stocks. A-shares also account for more shares. Due to the dumbbell configuration, they are also optimistic about bank stocks, and recommend colored sectors that are not so relevant to AI, as well as overseas themes. Consumption is more cautious, and incremental policies may be more focused on investment. Continuing to be optimistic about US technology stocks, the target for the S&P 500 index at the end of the year is 8,100 points.