【机构策略】A股市场震荡上行的趋势暂时未改

Group 1 - The A-share market experienced a high turnover on Thursday, with the major indices showing a short-term increase in volatility, but the overall upward trend remains intact [1] - The "anti-involution" policy and demand-side policies are expected to be significant factors influencing market performance in the medium term, with a positive outlook for the A-share market [1] - The market is expected to maintain a moderate upward trend, supported by external liquidity and risk appetite, particularly due to the anticipated interest rate cuts by the Federal Reserve [1][2] Group 2 - The Shanghai Composite Index broke through the 3700-point mark but ended the day lower, marking the end of an eight-day rally, indicating a potential divergence in the market [2] - Profit-taking pressure is evident due to previous gains, and historical trapped positions are also contributing to the upward pressure on the index [2] - Despite short-term technical adjustments, the core logic supporting the A-share market's positive outlook remains unchanged [2]