Market Overview - A-shares experienced a trading volume reduction of 160.9 billion, with a total transaction of 2.35 trillion [4] - The three major indices showed fluctuations, with the Shanghai Composite Index down by 0.19%, the Shenzhen Component Index down by 0.93%, and the ChiNext Index down by 1.11% [4] Company News - Shenzhen Metro Group has provided a total of 26 billion in loans to Vanke this year, marking the ninth loan issuance [4] - Vanke's largest shareholder, Shenzhen Metro Group, announced a loan of up to 2.064 billion for repaying bond principal and interest, with an interest rate of 2.34% [4] Technology Updates - Microsoft will stop providing security updates and technical support for Windows 10 starting October 14, which may expose users to increased cybersecurity risks [4] Other Industry Highlights - Xiaomi responded to concerns regarding the vehicle door locking issue, stating that the vehicles are equipped with mechanical handles [5] - Seres has passed the listing hearing at the Hong Kong Stock Exchange, having submitted its application in April [5] - The 2025 Nobel Prize in Economic Sciences was awarded to three scholars [5]

Core Viewpoint - The market is currently in a state of adjustment, with a slight bearish sentiment prevailing, but the overall strength of the bears is not significant. The market is expected to oscillate between two gaps, with potential upward movement after the adjustment period [1][2][11]. Market Performance - The market opened lower at 3281, with a low of 3277 and a high of 3294, closing at 3286. The ratio of advancing to declining stocks was 3557 to 1674, indicating more stocks rose than fell [1]. - The market has shown a consistent pattern of minor adjustments, with the recent high of 3313 being established as a short-term peak. The likelihood of a significant downward adjustment has decreased, although it cannot be completely ruled out [1][12]. Technical Analysis - The key trading range for the market is identified between 3285 and 3304, with the upper boundary indicating strength and the lower boundary indicating weakness. The market is currently positioned just above the lower boundary [3][4][12]. - The ChiNext index is trading between 1939 and 2036, currently below the lower boundary, while the 50 index is between 2647 and 2649, also below the lower boundary [5][12]. Short-term Strategy - The current strategy involves oscillating between the two gaps, with a focus on short-term trading (T) strategies. The market is expected to first address the upper gap before considering the lower gap [2][12]. Upcoming Key Dates - Tomorrow marks a critical point for the week and month, with the monthly candlestick expected to close bearish. The weekly candlestick remains uncertain, indicating potential volatility [8][11].