On Thursday (February 1), the market rose and fell throughout the day, the Shanghai Composite Index continued to adjust, and the ChiNext Index expanded, with a turnover of 703 billion yuan in the two cities, a decrease of 55.3 billion from the previous trading day. As of **, the Shanghai Composite Index fell 064%, the Shenzhen Component Index rose 034%, and the GEM index rose 1%. In terms of sectors, CPO, BC batteries, ** pharmaceuticals and other sectors were among the top gainers, while ST plates, education, real estate development and other sectors were among the top decliners. 
The concept of CPO exploded on Thursday The AI sector of the growth style strengthened, led by the CPO direction, **, the 80 billion optical module giant Zhongji Innolight rose more than 8%, Tianfu Communication rose more than 14%, Huaxi shares, Cambridge Technology and other daily limits. 
On the news side, according to market research firm Lightcounting, shipments of CPO technology are expected to increase from 800G and 1The number of 6T ports will be gradually increased, and commercial use will begin in 2024-2025. By 2026 to 2027, CPO technology is expected to achieve large-scale mass production, and its market share will maintain rapid growth. According to **, by 2025, shipments of 800G CPO will exceed 1 million units, 800G and 1The total sales of the 6T CPO will exceed US$200 million. And by 2026-2027, 800g and 1The market share of 6T CPO is expected to maintain a year-on-year growth of more than 70% and exceed the US$800 million mark by 2027.
Industrial ** analysis believes that February is the month with the highest TMT winning rate: with the end of January annual report pre-disclosure season is coming to an end, the market will usher in a performance vacuum period of about 2 months, and February is also the stage with the highest TMT winning rate in the past years, when TMT is expected to outperform the market again. Northbound funds: focus on grabbing CPO concept stocks.
According to the data of Oriental Wealth Choice, since January 22, there have been a total of 100 communication and computer funds with a net amount of more than one million yuan, with a total amount of more than 2.4 billion yuan. Specifically, Zhongji Innolight ranked first, with a northbound net ** of more than 1.1 billion yuan; China Unicom ranked second, with a northbound net of **2700 million yuan. Tianfu Communication, Zhongbei Communication, Hangyu Micro, Sanwei Communication, Wuhan Fangu, Special Information, Chutianlong, Tongyu Communication, Mingpu Optomagnetic and other **northbound net** amount is 1Between 200 million yuan and 30 million yuan. From the perspective of subdivided industries, CPO concept stocks have received the focus of northbound funds, and many stocks such as Zhongji Innolight, Tianfu Communication, and Mingpu Optomagnetic have received the top northbound net purchases.
Institutional outlook.
For the market outlook, institutions have expressed their opinions.
Guosheng ** research report pointed out that, overall, although the weak structure of the two city indices has not changed, and the Shenzhen Index has hit a new low, but the market sentiment of this round of killing has reached a relative extreme, and the probability of continuing to adjust sharply is low, and the technical deviation from the 5-day line is too far, and there is an over-falling demand, therefore, although the market has not shown a significant warming signal, this round of adjustment has been in place both in terms of sentiment and space, and the market outlook may be quietly coming. Since the beginning of the year, the negative feedback process of the market liquidity cycle chain has been effectively blocked, and the market has entered the monthly trading window with the risk of performance forecasts has been implemented. Guotai Junan said that the intensive introduction of policies and the entry of important forces into the market to promote the bottom of the market**, the newly formed optimistic expectations and market temperature will not plummet immediately. Before the Spring Festival, "red envelopes**" are emerging. It is expected that: 1) After the index is sharply **, the pre-holiday will be short and short, and the index divergence will rise**, and the "red envelope**" will enter the plate to spread. 2) The medium-term growth expectation lacks upward momentum and the transaction structure needs to be cleared, and the bottom needs to be consolidated. (Article**: Oriental Wealth Research Center).