兴业证券：A股前期调整已释放一定风险，持股过节兼具胜率与赔率

Group 1 - The core viewpoint is that the recent global asset adjustment is more about digesting emotions through narratives rather than any substantial changes in fundamentals or policy paths [1] - The previous adjustments have released certain risks, and the most impactful moments of narrative changes on market sentiment may be gradually passing [1] - Increased event catalysts and factors like the "Spring Festival effect" are expected to create a favorable environment for market recovery, suggesting a strategy of holding stocks through the holiday has both high probability and payoff [1] Group 2 - The recommendation is to gradually move away from a defensive mindset and focus on positioning for the Spring Festival market [1]