策略周报：科技成长或有望占优

Group 1 - The report indicates that the technology growth style is expected to outperform in the current market environment, driven by improved market sentiment and upcoming economic data and policy announcements [1][17]. - The technology sector saw significant gains following a speech by President Xi Jinping, which boosted confidence in the industry, particularly in computing, military, electronics, media, and communication sectors [1][24]. - TSMC reported strong third-quarter performance, with demand for AI and smartphone chips supporting growth, indicating a positive outlook for the semiconductor and consumer electronics supply chain [1][27]. Group 2 - The report highlights that the market is entering a data vacuum period, with short-term drivers expected to come from a rebound in risk appetite, particularly in technology-related sectors [1][17]. - The report notes that while there are signs of stabilization in the economy, the structure of credit and social financing data still requires improvement, indicating that the recovery in domestic demand is yet to be fully validated [1][17]. - The report emphasizes the urgency of strengthening the domestic supply chain and ensuring cybersecurity in light of recent security incidents involving Intel, which underscores the need for policy support in the innovation and cybersecurity sectors [1][27].