Group 1 - The Federal Reserve may potentially cut interest rates by up to 150 basis points (1.5 percentage points) in 2026, marking a significant shift towards monetary easing [1] - A substantial increase in dollar liquidity is expected to flow globally, benefiting emerging markets, particularly resilient Chinese assets, which could lead to significant valuation recovery and capital inflow into A-shares and Hong Kong stocks [3] - The optimistic outlook for improved global liquidity in 2026-2027 is seen as a favorable external environment for A-shares [3] Group 2 - Investment strategies should focus on sectors that directly benefit from liquidity changes, such as high-end manufacturing and technology innovation, which are more sensitive to global interest rate fluctuations [4] - The core driver for A-shares remains the strength of domestic economic recovery and industrial upgrading, with external easing acting as an amplifier rather than a primary engine [4] - Investors are advised to maintain composure and strategically position themselves during market fluctuations, focusing on core themes like "artificial intelligence + manufacturing" and self-sufficiency for long-term investments [4]