The Sci-Tech Innovation 50 Index rose by 1.63%, with over 3,600 stocks in the entire market gaining ground. The animal health sector led the gains.

The three major A-share indices rebound after rising, with the Sci-Tech Innovation 50 Index up over 1.6%.
On the market, animal health, glyphosate, organic silicon concepts, chemical raw materials, chemical fibers, agrochemical products, and chicken concepts lead in gains, while insurance, white appliances, aviation airports, PLC concepts, recombinant proteins, and aerospace perform poorly, leading the market downward.

As of midday close, the Shanghai Composite rose 0.03%, to 3,881.17 points; the Shenzhen Component fell 0.20%, to 13,325.83 points; the ChiNext Index declined 0.46%, to 3,135.18 points; the Sci-Tech Innovation 50 Index increased 1.63%, to 1,276.70 points; the Beijing 50 Index dropped 0.06%, to 1,253.97 points.
A total of 3,619 stocks rose, 1,741 declined, and 70 stocks hit the daily limit.
The total half-day trading volume across both markets was 1,072.1 billion yuan.

Today’s Highlights

On April 6, local time, at a White House press conference, U.S. President Trump stated that whether the conflict with Iran will escalate or approach an end depends on Iran’s response to his set “deadline” at 8:00 p.m. Eastern Time on the 7th.

To further regulate short-term trading behaviors in the securities market, clarify standards, and delineate regulatory boundaries, the China Securities Regulatory Commission previously issued the “Regulations on Short-term Trading Supervision” (hereinafter referred to as the “Regulations”), which will take effect from April 7, 2026.
Industry insiders pointed out that the implementation of the “Regulations” will help stabilize market expectations and facilitate participation by various professional institutional investors.

According to China Securities Journal on April 6, a source from the industry chain revealed that Foxconn has begun trial production of Apple’s foldable iPhone.
Apple’s shipment target guidance for suppliers is to launch the first foldable screen phone in the second half of 2026.
Based on supply chain information, the domestic version of the iPhone Fold is expected to start at around 14k to 15k yuan, with the top-tier version possibly exceeding 20k yuan.
In the past three months, 14 Apple concept stocks received investment ratings from three or more institutions, with seven stocks showing over 30% upside potential compared to their latest closing prices.
Among them, Changying Precision has the highest upside potential at 76%; industrial internet giant Foxconn and Hengdian DME have upside potentials of 61.03% and 56.42%, respectively.

2026 is predicted to be the year of the first flight of reusable rockets, with multiple companies such as LandSpace, Galaxy Space, and Interstellar Glory conducting intensive first flights and recovery verifications from April to December.
Domestic private commercial space companies plan to launch between 22 and 27 times.
During this process, more tolerance for “trial and error” should be encouraged, and the industry’s growth space deserves protection.

On April 6, the team led by Hu Yongsheng from the Institute of Physics, Chinese Academy of Sciences, published a major breakthrough in Nature Energy: they successfully developed a self-protecting, polymerizable non-flammable electrolyte (PNE), achieving the first-ever complete thermal runaway prevention in sodium-ion batteries at the ampere-hour level.
In the past two weeks, 15 sodium battery concept stocks received net financing inflows exceeding 14k yuan, with Zhongwei New Materials and Tiancai Materials gaining leverage positions of 189 million and 187 million yuan, respectively.
Baichuan Shares also attracted 176 million yuan in financing, while Penghui Energy, Xingwangda, and EVE Lithium Energy saw net financing between 112 million and 135 million yuan.

Institutional Views

Huatai Securities: Maintain defensive and low-correlation allocations in the short term, focus on power chain and prosperity in the medium term

Huatai Securities’ research report states that last week’s Middle East tensions continued to cause market fluctuations, compounded by risk aversion ahead of the Qingming holiday, with the A-share sentiment index still in the “panic” zone.
Structurally, benefiting from geopolitical risks and high oil prices, power, new energy, and coal sectors experienced profit-taking due to high congestion, while low-correlation sectors like communications and innovative pharmaceuticals performed well.
Earnings season’s better-than-expected results also provided new trading cues.
The odds of left-side positioning are gradually increasing, but before geopolitical clarity, one should avoid unilateral bets.
It’s recommended to wait for right-side signals; additionally, with non-farm payroll data exceeding expectations, risks such as rising oil prices → inflation → liquidity tightening should be watched.
In terms of allocation, control positions, leave room, and maintain defensive and low-correlation assets such as dividends, AI computing power, and innovative drugs in the short term.
Mid-term, consider low-level entry around the power chain and prosperity themes.

CITIC Construction Investment: Optimistic about domestic computing power and data element industry trends

CITIC Construction Investment’s research report indicates that by 2025, China’s AI acceleration card market will ship approximately 4 million units, with domestic AI acceleration cards accounting for over 40%.
Domestic models are breaking through; according to OpenRouter data, from March 30 to April 5, the top five API call volumes were all domestic models.
In Q1 2026, the price of Zhigu API surged by 83%, still showing strong demand.
Alibaba released three major models consecutively, likely further boosting domestic computing power demand.
A nationwide data property registration system has been officially implemented, signaling a fast development phase for the data element industry.

CITIC Securities: Continue to emphasize that profits of leading oil transportation companies in 2026 are expected to reach new highs

CITIC Securities’ research states that the outbreak of US-Iran conflict greatly enhances major consumer countries’ “energy security” demands.
The asset attributes of oil tanker fleets are shifting from “low-return, highly cyclical” to “necessity strategic assets.”
The Strait of Hormuz’s transit capacity remains a key variable; short-term supply chain adjustments have extended shipping distances, with US strategic reserves increasing pushing up TD22 (Gulf of Mexico to China) freight rates.
Once the strait’s transit capacity partially recovers, inventory replenishment demand could also catalyze a cyclical upturn.
Recently, the rise in Aframax freight rates is mainly due to increased regional trade arbitrage demand, with bottlenecks in the supply chain being the biggest impact point—currently, the bottleneck is ships.
Under the scenario of strait blockage, a new short-term supply chain balance is emerging, with April freight rates from the Gulf of Mexico and Red Sea to the Far East expected in the 150,000–200k yuan range.
Reiterating that profits of leading oil transportation companies in 2026 are likely to hit new highs.

CICC: Recommend focusing on main themes with high prosperity and strong earnings visibility

CICC’s research indicates that, in A-share allocation, earnings certainty may be a key indicator amid current uncertainties.
While the market remains uncertain in the short term, after fluctuations, sensitivity may decrease, and a period of adjustment could mark a relatively low point for A-shares.
In the medium term, macroeconomic conditions have not fundamentally changed, and the logic supporting “steady progress” in A-shares remains valid.
Risk release and downward adjustments could create good allocation opportunities.
In uncertain environments, earnings certainty may become a key factor guiding capital flows, so focus on themes with high prosperity and earnings visibility:

1. Prosperous growth: industries benefiting from AI implementation, such as optical communications; new energy-related sectors like batteries and energy storage.
2. Cyclical resource stocks: considering capacity cycles, focus on sub-sectors supported by supply-demand dynamics, such as power grids and chemicals.
3. High-dividend stocks: during phases of lower risk appetite, may outperform temporarily, but overall, they are likely to show phased and structural performance; pay attention to cash flow matching.

Galaxy Securities: Changes in crude oil prices will remain a key variable influencing recent market structure

Galaxy Securities’ A-share market outlook notes that externally, the US-Iran military conflict continues to escalate, with no clear prospects for ceasefire negotiations.
Trump set a deadline for April 6, with Iran’s counterattack intensifying and expanding.
Until external conflict uncertainty diminishes and trends clarify, global equity markets are expected to remain highly volatile, with the A-shares likely to show oscillating rotation.
Changes in crude oil prices will continue to be a key variable affecting recent market structure.
Rising oil prices boost global inflation expectations, delay rate cuts, and tighten global liquidity, reinforcing the trading logic of energy substitution sectors and defensive sectors, while suppressing the performance of tech growth and offensive sectors.
Conversely, if conflict easing expectations lead to oil price fluctuations downward and easing expectations rise, growth stocks may recover.
Internally, policy support, capital inflows, and asset revaluation in China remain unchanged, and external conflicts have not shaken the long-term “slow bull” foundation of A-shares.
Additionally, April marks the peak period for corporate earnings disclosures, shifting market focus toward fundamentals.
Sectors with high earnings certainty and sustained prosperity are expected to become core investment targets.

Zhongtai Securities: Favorable investment opportunities in companies with large model capabilities and application scenarios

Zhongtai Securities points out that the global and Chinese large model markets are growing rapidly, with significant economic pulling effects.
Domestic AI is expected to build high cost-performance token pricing barriers through energy and computing power advantages, continuously enhancing competitiveness.
Combined with rising demand for AI Agents and multimodal AI applications, there are promising investment opportunities in companies with large model capabilities and application scenarios.