短期波动孕育布局良机外资看好A股业绩与创新双主线

Core Viewpoint - Foreign capital is optimistic about the dual drivers of "performance realization" and "technological innovation" in the A-share market, viewing the current market adjustments as opportunities for long-term investment [1][2]. Group 1: Market Dynamics - A-share market has experienced volatility, but foreign institutions believe this short-term adjustment helps release inherent risks accumulated during previous rallies, maintaining high allocation value [2]. - The market is expected to shift towards a structurally upward trend driven by profit growth, supported by policy measures, a moderately loose policy environment, and a revaluation of market estimates [2][4]. - External factors have triggered a market correction, which may lead to increased attention on equity markets post-adjustment [2]. Group 2: Foreign Investment Trends - In September, foreign net inflows into the Chinese stock market rebounded to $4.6 billion (approximately 33.3 billion RMB), marking the highest monthly record since November 2024 [5]. - The interest of overseas investors in China's technology sector is growing due to continuous breakthroughs, with significant inflows expected to continue [5][6]. - Foreign capital is increasingly favoring long-term growth potential in technology manufacturing assets, particularly in sectors like semiconductors, driven by global AI demand [6]. Group 3: Investment Opportunities - As A-share companies begin to disclose Q3 reports, foreign investment trends are becoming clearer, with notable foreign shareholders emerging in various companies [7]. - Key sectors for investment include non-ferrous metals, non-bank financials, technology, and dividend assets, with a focus on precious metals and rare earths due to the global interest rate decline [7]. - The technology sector, despite previous gains, still presents upside potential compared to overseas leaders, with specific attention on sectors like AI, cloud services, and energy storage [8].