Core Viewpoint - The market is experiencing a structural recovery driven by technology stocks, with significant divergence in sector performance, particularly between hard technology and defensive sectors [4][5]. Market Performance - The Shanghai Composite Index closed at 3843.60, showing a strong rebound in the afternoon, primarily led by technology stocks [10]. - A total of 2867 stocks rose, indicating a broad market recovery, while defensive sectors like agriculture, pharmaceuticals, and energy faced declines [4]. Trading Volume - The trading volume in both markets has decreased but remains at a high level, reflecting ongoing investor interest in growth sectors despite some profit-taking in high-positioned technology stocks [5]. Fund Flow - Institutional investors are reallocating funds towards technology leaders, particularly in semiconductors and communication equipment, while withdrawing from defensive sectors [7]. - Retail investors are following suit, with funds flowing into micro-cap stocks and defensive sectors [7]. Investor Sentiment - The sentiment among retail investors shows a mixed approach, with 31.32% increasing their positions, 21.27% reducing, and 47.41% maintaining their current positions [12]. - The overall market sentiment indicates a preference for growth-oriented investments, particularly in AI and semiconductor sectors [5][7].