A股调整何时休？最新解读来了

Core Viewpoint - The recent adjustment in the A-share market is attributed to multiple factors, but the downward space is considered limited, with a favorable policy window expected in late October, making this a potential good time for positioning [4][9][10]. Market Adjustment Reasons - The market adjustment is driven by several factors, including escalating Sino-U.S. trade tensions, technical adjustment pressures due to significant gains since the beginning of the year, and uncertainties in international geopolitical situations [6][7]. - The rapid rise of previously popular sectors has led to profit-taking, exacerbating market volatility, particularly in the growth technology sector [6][7]. - The market has entered a phase of disorderly fluctuations, with increased volatility due to various influences, including high market sentiment and geopolitical tensions [7][10]. Future Market Outlook - The downward space for the market is viewed as limited, with expectations of a favorable policy window in late October, which could provide a good opportunity for positioning [9][10]. - The upcoming 20th National Congress is anticipated to clarify economic development strategies, potentially boosting market sentiment and creating investment opportunities [9][10]. - The Federal Reserve is expected to lower interest rates by 25 basis points, which may improve liquidity conditions for A-shares and attract foreign investment [10]. Long-term Market Sentiment - Fund companies maintain a positive long-term outlook for the A-share market, emphasizing that the foundation for a bull market remains solid [12]. - The market is expected to focus more on internal drivers, with attention on policy benefits from the 14th Five-Year Plan and the certainty of third-quarter earnings [12]. - Investment strategies may include a balanced approach, focusing on sectors benefiting from domestic policies and those with improving fundamentals at relatively low valuations [12].