Guojin Securities said that the fog in the market has not dissipated, but the compass in its hand is pointing out potential directions. Three directions are recommended: First, on the commodity side, energy is the primary recommendation. The energy chain represented by coal, petroleum, oil transportation, and refining will continue to benefit from the global demand for energy reserves. As the opposite asset of the US dollar, non-ferrous metals are currently only exogenous variables. Wait until the September FOMC meeting. Second, under a defensive mindset, the dividend style benefits from the shift of absolute beneficiaries. Dividend assets with high dividends+low volatility and stable cash flow are still the core return direction of absolute return capital. Third, in anticipation of austerity, the phased recovery of global manufacturing will have to wait for the headwinds to pass, and assets such as export chains will still have allocation value.

Guojin Securities said that the fog in the market has not dissipated, but the compass in its hand is pointing out potential directions. Three directions are recommended: First, on the commodity side, energy is the primary recommendation. The energy chain represented by coal, petroleum, oil transportation, and refining will continue to benefit from the global demand for energy reserves. As the opposite asset of the US dollar, non-ferrous metals are currently only exogenous variables. Wait until the September FOMC meeting. Second, under a defensive mindset, the dividend style benefits from the shift of absolute beneficiaries. Dividend assets with high dividends+low volatility and stable cash flow are still the core return direction of absolute return capital. Third, in anticipation of austerity, the phased recovery of global manufacturing will have to wait for the headwinds to pass, and assets such as export chains will still have allocation value.