牛市的成因是什么?牛市还能否延续?
Yuekai Securities·2025-09-24 13:11

Group 1: Causes of the Bull Market - The current A-share bull market is driven by profound global capital reallocation and breakthroughs in Chinese technology innovation, termed as the "technology revaluation bull" [2] - Changes in macroeconomic policy since the September 26 meeting last year and significant advancements in artificial intelligence have boosted investor risk appetite and market expectations [4] - Continuous improvement in capital market systems and the influx of quality companies have enhanced market attractiveness [6] Group 2: Market Outlook - The bull market is expected to continue, with short-term corrections providing buying opportunities [3] - The foundation for the bull market remains solid, supported by China's transition from "catching up" to "leading" in various tech sectors [8] - Domestic long-term capital continues to flow into the market, with overseas capital seeking to allocate assets in China amid global changes [9]