行业月报10月中小盘优于大盘，建筑、通信表现较佳

Performance Overview - In October 2024, small-cap stocks outperformed large-cap stocks, with the typical index showing a trading activity increase[3] - The proportion of stocks that rose in typical indices was approximately 47%[10] - The turnover rates for major indices increased compared to September, with the STAR 50 index nearly doubling its turnover rate[13] Sector Analysis - In October 2024, 21 sectors saw gains in mid-cap stocks, with the top three performing sectors being construction, communication, and computer[33] - Among small-cap stocks, 23 sectors experienced gains, with the highest increases in construction materials, construction, and computer sectors[33] - The sectors with the highest turnover rates for mid-cap stocks were communication, computer, and construction, with some exceeding 1.5 times the index turnover rate[38] Investment Recommendations - It is advised to focus on sectors with expected continued excess returns, such as construction, communication, machinery, and utilities, as well as automotive and home appliances showing signs of fundamental recovery[58] Risk Factors - Risks include macroeconomic fluctuations, potential declines in industry prosperity, and uncertainties in domestic and international policies[62]