Core Viewpoint - The report from Galaxy Securities indicates a cautious sentiment among investors ahead of the holiday, leading to a slight decline in market trading activity, while the broad index shows a fluctuating pattern. However, short-term volatility does not alter the overall positive market trend [1] Market Trends - The structural market trend remains prominent, with the technology sector benefiting from ongoing domestic and international industrial trends. Despite adjustments in the market due to sentiment influences, there is potential for upward recovery after short-term pressure is released [1] Future Outlook - Looking ahead, the upcoming 20th Central Committee's Fourth Plenary Session in October, focusing on the "14th Five-Year Plan," is expected to create a critical window for the A-share market, potentially enhancing market risk appetite [1] Liquidity Conditions - Liquidity is anticipated to continue on a positive trend, with margin trading balances in an upward channel. The ongoing shift of household deposits is still in its early stages, and the Federal Reserve's interest rate cuts are providing support for global liquidity [1] Structural Market Influences - Attention is required on the impact of Sino-U.S. negotiations, which may disrupt the short-term structural market trends [1]
银河证券：节前短期波动加大 不改市场向好趋势
Zheng Quan Shi Bao Wang·2025-09-29 00:41