Shang Hai Zheng Quan Bao·2025-09-29 01:36Group 1 - The market is expected to maintain a positive trend despite short-term fluctuations, with October A-shares likely entering a critical window period for risk appetite recovery [1][2][4] - Historical data suggests that the market typically performs well after the National Day holiday, with current valuations remaining reasonable and not overly stretched [1][3] - The technology sector is highlighted as a key area for investment, with opportunities for "high-low cut" strategies within this sector [6][7] Group 2 - The liquidity in the market is anticipated to remain favorable, supported by factors such as the upward trend in margin financing and potential seasonal inflows from foreign capital [1][4][5] - The focus on cyclical industries is expected to yield better performance in the fourth quarter, with over 65% probability of these sectors outperforming the CSI 300 index [3] - Areas with improving earnings or sustained high growth are projected to generate excess returns, particularly in mid-to-high-end manufacturing and the AI industry chain [7]