Market Overview - The market experienced geopolitical shocks this week, leading to a temporary pessimistic sentiment, which began to recover after Wednesday. However, market volatility remained within a controllable range, with the implied volatility of the CSI 300 options slightly above the average of the past three years on Tuesday and Wednesday [1][4] - The impact of geopolitical events on the A-share market was limited, and the ongoing Two Sessions provided a stabilizing effect while highlighting various focal points for the market [1][4] - Geopolitical shocks are expected to have a sustained impact on A-shares and global risk assets, necessitating a cautious approach. Investment opportunities are more likely to be found in structural aspects of the market [1][4] Investment Strategy - A barbell strategy is recommended, which involves allocating to dividend or free cash flow assets to balance portfolio volatility while also positioning in sectors with improving fundamentals or policy support [1][4] Industry Performance - In terms of industry performance, the top-performing sectors included oil and petrochemicals, coal, and public utilities, with weekly gains of +8.06%, +3.79%, and +3.42% respectively [15]

Market Overview - The market experienced geopolitical shocks this week, leading to a temporary pessimistic sentiment, which began to recover after Wednesday. However, market volatility remained within a controllable range, with the implied volatility of the CSI 300 options slightly above the average of the past three years on Tuesday and Wednesday [1][4]. - The impact of geopolitical events on the A-share market was limited, and the ongoing Two Sessions provided a stabilizing effect while highlighting various focal points for the market [1][4]. - Geopolitical shocks are expected to have a sustained impact on A-shares and global risk assets, necessitating a cautious approach. Investment opportunities are more likely to be found in structural aspects of the market [1][4]. Investment Strategy - A barbell strategy is recommended, which involves allocating assets with dividends or free cash flow to balance portfolio volatility while also investing in sectors with improving fundamentals or policy support [1][4]. Industry Performance - In terms of industry performance, the top-performing sectors included oil and petrochemicals (+8.06%), coal (+3.79%), and public utilities (+3.42%) [15].