本轮行情的核心驱动力是什么？陈果深度解读A股韧性慢牛新逻辑

Group 1 - The current market rally is driven by a reassessment of confidence in the Chinese economy, which has shown resilience despite external pressures such as tariffs [1][2] - Significant events in various sectors, including AI, pharmaceuticals, and military, have bolstered market confidence in Chinese assets [1] - The market is experiencing a "slow bull" trend, differing from previous years, with a more gradual increase in stock prices and less reliance on high-risk funding [3] Group 2 - The overall profit growth has not fully materialized, indicating that the current market sentiment is more about restoring confidence rather than immediate financial performance [3] - Institutional investors are gradually reallocating funds from the bond market to the stock market, reflecting a rational assessment of valuations [3] - The market has not seen a significant influx of retail investors, with new account openings and fund subscriptions remaining stable [3]