光控资本：短期提升风险偏好 积极做多A股

Group 1 - The market has transitioned back to a performance-driven structure, indicating that the style switch has fundamentally ended rather than just begun [1] - Active funds have rapidly concluded their position adjustments over the past two weeks, reflecting a shift in market sentiment [1] - The understanding of trade disputes has shifted from a superficial replication of past experiences to a more serious consideration [1] Group 2 - The low volatility profit-related sectors have recovered their previous three months of negative excess in less than three weeks [1] - Recent developments in US-China negotiations and the completion of Q3 earnings reports suggest a search for sectors with sustained profit growth in the coming year [1] - Two emerging trends are identified: the safety of industrial chains benefiting Chinese manufacturing companies and the expansion of AI from cloud to edge, indicating a significant shift in data access and personalized AI applications [1] Group 3 - Market sentiment has cooled since October, with a slowdown in incremental capital inflows, but overall stability remains intact [3] - The market is expected to digest uncertainties related to US-China negotiations, with a focus on blue-chip stocks with high dividends in the short term [3] - Following the negotiations at the end of October, if no further negative factors arise, the market is likely to break out of its current consolidation phase, increasing the probability of upward movement in indices [3]