但斌、王庆最新发声：从“924”到现在肯定是个牛市

Market Overview - The A-share market has shown significant improvement at the beginning of 2026, with the Shanghai Composite Index reaching 4120.43 points and total trading volume exceeding 30 trillion yuan [3][4] - Analysts believe that the market is in a bull phase since the "924" rally, with a focus on enhancing the quality of listed companies and their competitive advantages [3][10] Investment Sentiment - There has been a shift in market sentiment, with a recovery in risk appetite since the "924" rally, leading to a potential revaluation of undervalued value stocks [6][9] - The market is currently characterized by structural opportunities, particularly in technology sectors driven by advancements in AI [8][12] International Investor Perspective - International investors are increasingly engaged with Chinese assets, with a notable shift in sentiment following profitable investments, such as the successful IPO of CATL [12][14] - Morgan Stanley has upgraded its rating on Chinese stocks from neutral to overweight, indicating a belief in a slow bull market supported by various factors, including technological advancements and improved corporate profitability [12][14][15] Challenges and Considerations - Concerns exist regarding the concentration of profits among a small number of companies, which could pose long-term risks to market stability [10] - The need for companies to enhance their quality and business models is emphasized as essential for sustainable growth and resilience against market challenges [10]