Group 1 - The market is experiencing fluctuations around the 4000-point mark, indicating significant divergence between bulls and bears as investors take profits towards year-end [1][2] - This bull market is characterized by a "dumbbell" structure, with low valuation, high dividend sectors like banks driving the index up, while tech innovation sectors such as AI and semiconductors show strong performance [2][3] - The current bull market is supported by policy initiatives and capital inflows, with A-shares and H-shares being seen as undervalued compared to US stocks, attracting global investment [3] Group 2 - The ongoing bull market is expected to stimulate consumer spending, with a potential shift from a structural bull market to a comprehensive bull market by 2026, enhancing consumer confidence and economic growth [4] - The evolution of the bull market is anticipated to follow a sequence where tech stocks lead, followed by mid-cap stocks, and finally traditional sectors, with a focus on balanced portfolio allocation [5] - In the tech sector, the demand for computing power is expected to rise, with significant partnerships highlighting the strategic importance of computing infrastructure, suggesting investment opportunities in related technologies [6][7]
杨德龙：大盘走势持续震荡调整 不会改变中长期向上走势
Xin Lang Ji Jin·2025-11-20 10:19