【机构策略】市场风险已大幅释放 中国股市进入击球区

Group 1 - The market risk has significantly released, and the Chinese stock market is entering a favorable zone for investment according to Guotai Junan Securities [1] - Recent rapid decline in the Chinese stock market and panic selling are attributed to year-end profit-taking and reduced positions by investors, alongside external factors like the cooling of Fed rate cut expectations and increased volatility in the US stock market [1] - Guotai Junan Securities maintains a positive outlook on the Chinese market despite the prevailing cautious sentiment, indicating that the stock index is in a favorable position for investment [1] Group 2 - Citic Securities suggests that the volatility of global risk assets is primarily a liquidity issue, but fundamentally stems from an over-reliance on a single narrative regarding AI [2] - The release of US non-farm payroll data and the downshift in Fed rate cut expectations have triggered a correction in high asset valuations, amplifying concerns about the sustainability of AI infrastructure in North America [2] - The current market environment presents an opportunity for investors to reallocate to A-shares and Hong Kong stocks, as the early release of risks allows for strategic positioning ahead of 2026 [2]