Core Viewpoint - The report from Huatai Securities highlights a global rally in equity assets during the National Day holiday, with significant movements in various markets and suggests a positive outlook based on recent economic indicators and developments in AI technology [1] Domestic Developments - The September PMI showed a marginal recovery, indicating improved economic activity - Travel data during the holiday reached a historical high, with notable performance in outbound tourism - High-frequency data in sectors such as dining, cinema, and real estate also showed signs of recovery [1][1][1] Overseas Developments - Increased risk aversion due to the U.S. government shutdown and the Japanese elections, leading to a rise in gold prices - Expectations for interest rate cuts by the Federal Reserve and fiscal expansion in Japan have strengthened the narrative of global liquidity easing [1][1][1] Industry Developments - OpenAI launched Sora2 and announced collaborations with multiple companies, accelerating AI investment and application deployment - The post-holiday period is expected to see a positive impact on risk appetite due to calendar effects and new information from the holiday [1][1][1]