长城基金谭小兵：仍看好创新药行情

Group 1 - The domestic economy showed strong resilience in Q2, and the "anti-involution" policies continue to be implemented, leading to a steady rebound in A-shares in July [1] - In August, uncertainties from overseas tariffs and rising expectations for a Federal Reserve rate cut may impact the market, while domestic policies are expected to support the stabilization of the capital market [1] - The A-share mid-year reports will enter a concentrated disclosure period, increasing the importance of performance trading [1] Group 2 - Changcheng Fund's manager, Tan Xiaobing, noted multiple factors influencing the market in August, including unclear US-China trade tensions and the upcoming performance window, suggesting a potential short-term market fluctuation [1] - Tan Xiaobing expressed a relatively optimistic view on sectors such as non-bank financials, military industry, and new consumption that has been consolidating for a while [1] - The innovative drug sector is also viewed positively, although due to significant gains in July and a lack of catalysts in August, this sector may experience short-term fluctuations, with potential catalysts expected after September's major meetings and medical insurance negotiations [1]