宏观策略&市场资金跟踪周报：中国资产领涨全球，A股仍有上涨空间

Group 1 - The report indicates that Chinese assets are leading globally, with A-shares expected to have further upside potential following the National Day holiday, driven by strong demand for catch-up gains [2][11]. - The report highlights that during the six days of the National Day holiday (October 1-6), the Hang Seng Index and the Nasdaq China Golden Dragon Index saw significant increases of 7.59% and 11.35% respectively, suggesting a positive outlook for A-shares post-holiday [11][12]. - The report emphasizes that the A-share market's valuation remains low, and the recent adjustments have built substantial upward momentum, supported by improved domestic policies and market sentiment [11][12]. Group 2 - The report suggests that the domestic consumption sector is showing signs of weak recovery, with significant increases in cross-regional travel during the National Day holiday, indicating a potential boost in consumer spending [12][13]. - The real estate market is also showing positive signs, with promotional activities leading to increased foot traffic and sales during the holiday period, suggesting a potential recovery in housing demand [12][13]. - The manufacturing sector's PMI showed a slight rebound, indicating marginal improvements in production, although it remains in contraction territory, highlighting ongoing challenges in the economy [13]. Group 3 - The report identifies key investment opportunities in cyclical sectors such as real estate, construction materials, and consumer goods, which are expected to benefit from policy stimulus and improving economic conditions [11][14]. - Financial sectors, particularly brokerage firms, are highlighted as potential leaders in the market recovery, benefiting from low valuations and supportive policies aimed at consolidating the industry [14]. - The report also points to technology and innovative sectors, particularly in AI, as areas of growth, driven by increased capital expenditure from global tech giants and domestic competition [14].