天天基金网·2025-05-28 11:20Core Viewpoint - The A-share market is currently experiencing volatility, with over 3,400 stocks declining, while sectors like logistics, mining, and liquor are leading the gains [1][2]. Group 1: Market Overview - The trading volume in the two markets has returned to over 1 trillion yuan, with sectors such as jewelry, logistics, mining, and food and beverage showing resilience [2]. - Analysts suggest that the market is likely to maintain a volatile pattern in the short term, but domestic policy support may provide some stability [2]. - The "national team" has stepped in to purchase ETFs, indicating confidence in the long-term value of state-owned enterprises [3]. Group 2: Foreign Investment and Market Sentiment - Foreign capital continues to flow into the A-share market, with approximately $20 billion in passive funds entering from February to April [4]. - Morgan Stanley believes that the A-share and Hong Kong markets are poised for a bull market, with the third to fourth quarter being a critical entry point [4]. - Analysts recommend focusing on three long-term trends: the enhancement of China's independent technological capabilities, Europe's defense autonomy, and the acceleration of domestic demand policies in China [6]. Group 3: Historical Patterns and Sector Performance - Historical analysis shows that after rapid adjustments, the market typically forms a double bottom before rebounding to resistance levels [8][9]. - During the eight historical adjustments reviewed, the market consistently formed double bottoms before rebounding, with the ability to break previous resistance levels depending on policy and fundamental conditions [9][11]. - The low-volatility style has outperformed during adjustment phases, with defensive sectors like banking and consumer staples experiencing smaller declines [13]. Group 4: Investment Strategies - The report suggests that investors should consider a balanced allocation among low-volatility dividends, domestic consumption, and small-cap growth styles, adjusting positions based on market conditions [18]. - The analysis of past adjustments indicates that quality and low-volatility styles tend to have smaller drawdowns and greater rebound potential [16][17].