外部风险有限，行情未完

Group 1 - The report indicates that the negative impact of the U.S. election results, fiscal stimulus policies, and October economic data on A-shares in November 2024 is limited [1][7][15] - Historical experience shows that the core factors influencing A-share performance in November are policies, external events, and liquidity [15][18] - The report suggests that A-shares may maintain a strong oscillating trend in November due to positive policy expectations and limited negative external impacts [15][18] Group 2 - Economic expectations may improve in November, with domestic consumption recovering and exports potentially rebounding due to low base effects [21] - The report highlights that fiscal policies are expected to stimulate investment growth, with significant issuance of special bonds and improvements in real estate investment trends [21] - Corporate profitability is anticipated to recover in November, supported by low base effects and policy initiatives [21]