Xin Lang Cai Jing·2025-10-26 10:46Core Viewpoint - The report from Everbright Securities emphasizes a focus on the TMT (Technology, Media, and Telecommunications) and advanced manufacturing sectors in the mid-term, while suggesting a shift towards high-dividend and consumer sectors if market volatility occurs [1] Industry Focus - Mid-term attention is directed towards the TMT and advanced manufacturing sectors, with TMT likely to be a main focus during liquidity-driven market conditions [1] - The TMT sector currently has several catalysts, including the onset of a Federal Reserve interest rate cut cycle and the ongoing development of the AI industry, which provide upward momentum [1] Market Conditions - If the market shifts towards being driven by fundamentals, advanced manufacturing should be a key area of focus, as the current market may be in a mid-term phase [1] - In the event of market turbulence, sectors that are lagging, such as high-dividend stocks and consumer sectors, should be monitored, including industries like banking, utilities, food and beverage, and personal care [1]