China Galaxy Securities: Tech Manufacturing Theme Shifts to Semiconductors, AI and Aerospace in June

China Galaxy Securities said in a research note that the internal theme within tech manufacturing rotated from “AI + new energy” in May to three clearer directions in June: semiconductors, AI and aerospace, with thematic rotation slowing versus May and market leadership becoming more focused. The brokerage said its macro, style and sector signals point to a market backdrop of “macro pressure with a clear structural main theme,” adding that while the overall environment constrains risk appetite, capital has continued to flow into areas where it sees consensus, including manufacturing upgrades, energy security and AI industry trends, according to Jiemian News. It said sci-tech innovation, semiconductors, aerospace and manufacturing tracks have become the areas with the strongest relative return potential, and that the market style continues to favor growth.