策略周报：靴子如期落地，估值上行延续

Core Insights - The report indicates that nearly half of the listed companies have reached new highs in stock prices, with 2407 out of 5115 stocks exceeding their previous highs from October 8 and 9, reflecting a 47.1% increase in stock performance [1][10][15] - The report highlights the importance of the "self-controllable" strategy in the context of Trump's election, suggesting that industries such as defense, semiconductor equipment, and high-end machine tools are likely to benefit from this focus [1][18] - The approval of a 6 trillion yuan local government debt limit is expected to support economic stability and growth, particularly benefiting cyclical industries like real estate, construction, and machinery [1][20][25] Market Overview - The report notes a significant market rally driven by domestic growth policies, with small-cap growth stocks outperforming dividend assets [1][10] - The upcoming release of October economic and financial data is anticipated to serve as a validation window for market expectations, with mixed signals regarding domestic demand recovery [1][11] Industry Trends - The report identifies strong inflows into sectors such as food and beverage, defense, and light manufacturing, indicating a positive sentiment towards these industries [1][27] - The "AI+ applications" trend is accelerating, with a focus on sectors like robotics, gaming, education, and finance, which are expected to commercialize rapidly [1][19] Policy Implications - The report emphasizes the significance of fiscal policies aimed at stabilizing the economy, particularly in light of international economic uncertainties, which will likely enhance the valuation of core industries supporting economic growth [1][25] - The report outlines that the approval of new fiscal measures and debt limits reflects a commitment to sustainable economic growth, which is expected to attract long-term investment into the A-share market [1][25]