News summary

CITIC Securities Research News predicts that the market will shift from expected recovery to steady growth, and recommends allocating high-performance growth stocks, low-wave dividend stocks and active themes to reduce rotating games.

Newsletter text

CITIC Securities 'latest research report analysis pointed out that as the market enters a stock state, global funds are rebalanced.pragmaticthorThe impulse has cooled down, and the market driven by expected repairs has come to an end. The research report believes that under the background of gradually verifying reality, the market will maintain a steady upward trend. In terms of allocation strategies, investors are advised to focus on high-performance growth stocks, low-volatility dividend stocks, and active theme investments, while reducing games on market rotation. The research report emphasized that the current market liquidity environment no longer supports a market that relies solely on expected repairs, but should shift to a market driven by improvements in policies, fundamentals and risk appetite. Specifically, the verification of four key factors will have an important impact on market trends: the steering effect of real estate policies and their subsequent policy responses, the implementation effect of industrial policies aimed at optimizing the supply side, the reform policy of the upcoming Third Plenary Session of the Central Committee of the Communist Party of China, and the impact of the complex geopolitical environment on market risk appetite.