Group 1 - The report indicates a strong rebound in Hong Kong Stock Connect innovative drug theme funds, with significant performance noted in the recent period [2][24][29] - The A-share market experienced narrow fluctuations and a significant decrease in volatility following tariff policy impacts, with the China Securities 2000 and CSI 300 indices showing gains of 0.42% and 0.37% respectively [11][12] - The report highlights that the QDII funds and other types of funds performed best, with increases of 2.46% and 1.13% respectively, driven by a rebound in oversold assets such as oil and gas and the Hong Kong market [16][24] Group 2 - The investment outlook suggests a defensive strategy focusing on fundamentally solid and reasonably valued targets, recommending a "core + theme" allocation for equity assets [31][29] - For bond assets, the report notes that the domestic effective demand issue remains unresolved, and a new round of monetary easing is anticipated, suggesting buying long-term interest rate bonds during market adjustments [31][29] - The report recommends allocating 2% to 5% of the portfolio to gold assets, as even with lower expected returns, this allocation can significantly enhance the risk-adjusted returns of the investment portfolio [31][29]