量化择时周报：宏观事件兑现窗口，配置均衡应对波动-20250914

Group 1 - The report indicates that the current WIND All A index is in an upward trend, with the trend line positioned around 6106 points and a positive earning effect of approximately 1.9% [2][10] - The report suggests maintaining a balanced allocation in response to increased market volatility, especially as the market enters a significant event window [2][10] - The report highlights that the market's short-term moving average (20-day) is above the long-term moving average (120-day), with the distance between them increasing from 12.15% to 13.19%, indicating a continued upward trend [2][9] Group 2 - The industry allocation model recommends focusing on sectors that are expected to benefit from policy-driven growth, such as chemicals and innovative new energy, while also continuing to support the Hong Kong innovative pharmaceutical sector [2][10] - The report emphasizes the importance of the market's earning effect in sustaining mid-term incremental capital inflows, as long as the earning effect remains positive [2][10] - The report identifies technology sectors, particularly those related to computing power and batteries, as areas of interest based on the TWO BETA model [2][10]