Core Viewpoint - Cathay Securities indicates that the A-share market may maintain a range-bound fluctuation pattern due to moderate economic recovery and ongoing external disturbances, with a focus on structural opportunities driven by policy expectations in July [1] Group 1: Economic Outlook - The economic recovery is described as moderate, suggesting a gradual improvement in economic conditions [1] - External disturbances are still present, which may impact market stability [1] Group 2: Market Strategy - The recommendation is to adopt a strategy that combines stable assets with low dividend yields as a base, while also investing in growth-oriented assets such as technology and new consumption to capture potential returns [1]