每日看盘｜流动性预期改善，A股或将重返“慢牛”轨道

Group 1 - The A-share market experienced a strong rebound on Tuesday, with the Shanghai Composite Index showing signs of recovery after initial resistance, driven by active sectors such as space photovoltaic and commercial aerospace [1] - The narrative around "balance sheet reduction" has weakened, as the confirmation of the new Federal Reserve chair nominee has led to a reassessment of global market liquidity, impacting asset prices and causing fluctuations in the dollar index [2][3] - Major Asian stock indices, including the KOSPI and Nikkei 225, saw significant gains of 6.84% and 3.92% respectively, positively influencing the A-share and Hong Kong markets [3] Group 2 - The "balance sheet reduction" narrative is viewed as a trading noise that may alter short-term A-share movements but is unlikely to change the long-term trend of liquidity easing [4] - Despite some noise from discussions regarding VAT in the financial and internet sectors, the overall trend in A-shares remains strong, supported by robust domestic liquidity and a strong appreciation of the RMB [4] - The emergence of new industry catalysts, such as the commercial aerospace and space photovoltaic sectors, provides momentum for trading activities, indicating a potential return to a "slow bull" market trajectory [5]