智通财经网·2025-09-27 01:20Group 1 - The core viewpoint of the report indicates that the A-share market is expected to continue its upward trend after the National Day holiday, with a focus on the TMT sector for investment opportunities [1][3] - In September, the A-share market showed a mixed performance with most indices rising, particularly the ChiNext Index, while the Shanghai 50 Index experienced the largest decline [2] - The Hong Kong stock market also experienced a volatile upward trend in September, influenced by external interest rate cuts and improved domestic risk appetite, with the Hang Seng Technology Index rising by 12.4% [2] Group 2 - The report suggests that historical trends indicate a positive market performance following the National Day holiday, with reasonable valuations supporting the expected upward movement [3] - The TMT sector is highlighted as having significant catalysts for growth, including ongoing industry trends and the commencement of the Federal Reserve's interest rate cut cycle [3][4] - The report recommends a "barbell" investment strategy focusing on technology growth and high dividend yield stocks, particularly in sectors like telecommunications, utilities, and banking [4]