Xin Lang Cai Jing·2025-10-19 10:49Core Viewpoint - The report from China Galaxy Securities indicates that short-term market sentiment is cautious due to uncertainties from external trade frictions and previous significant gains in certain sectors, leading to reduced trading volumes and a shift in investment styles. The probability of market fluctuations is high [1] Group 1: Market Conditions - The upcoming 20th Central Committee's Fourth Plenary Session will focus on the "14th Five-Year Plan," which is expected to provide more investment clues for investors as the third-quarter reports are released [1] - The current short-term adjustments present opportunities for investors to position themselves strategically [1] Group 2: Investment Opportunities - Sectors with strong policy focus and earnings certainty should be prioritized for investment [1] - The logic of residents moving their deposits remains unchanged, which is likely to provide long-term incremental capital for the A-share market [1] - The acceleration of medium to long-term capital allocation into the equity market is supported by the Federal Reserve's interest rate cuts, enhancing global liquidity [1] Group 3: Economic Outlook - The strategic layout of the "14th Five-Year Plan" is expected to drive technological industries towards significant breakthroughs [1] - Anti-involution policies are anticipated to improve corporate profitability, thereby strengthening the resilience of the economic fundamentals [1]