Core Viewpoint - The market is experiencing fluctuations, with the Shanghai Composite Index expected to stabilize around 4000 points in the long term, eventually reaching higher levels like 5000 and 6000 points [10][11][12][13]. Market Performance - The overall market has seen declines, with large, mid, and small-cap stocks all dropping, particularly small-cap stocks [2]. - The value style of stocks has shown resilience during market volatility, while growth style indices have generally decreased [3][7]. - The Hong Kong stock market has also experienced a downturn, especially in technology stocks, which are now considered undervalued [8][9]. Index Analysis - The Shanghai Composite Index has fluctuated around 3900 points, with historical context showing that it has previously reached lower levels during bear markets [19][28][30]. - The long-term trend indicates that the index is driven by earnings growth, which will ultimately support its rise above 4000 points [22][32]. - The broader A-share market, including Shenzhen and ChiNext stocks, has already surpassed 4000 points when considering indices like the CSI All Share Index [33][35]. Investment Strategy - The long-term upward trend of indices provides a solid foundation for investing in index funds, with expectations of both earnings growth and potential valuation increases during bull markets [39][41]. - The article emphasizes the importance of being prepared for market cycles and having a well-planned investment strategy to capitalize on undervalued opportunities [48]. New Features - A new feature in the "Today Star" app allows users to view core data and real-time valuations of mainstream ETFs, helping investors identify undervalued ETFs [44][46].

Core Viewpoint - The article discusses the current market trends, focusing on the performance of various stock styles and the recovery of corporate earnings in A-shares and Hong Kong stocks, indicating potential investment opportunities. Group 1: Market Performance - The market experienced slight declines, with the index closing at 4.2 stars [1] - Both large, medium, and small-cap stocks showed minor declines [2] - Value styles remained relatively resilient during market fluctuations [3] - The Shanghai Dividend and CSI 300 Value indices have returned from undervaluation to normal valuation levels [4] - Other indices like the Hong Kong-Shenzhen Dividend and Free Cash Flow are also approaching normal valuation [5] Group 2: Earnings Recovery - The recent quarterly reports indicate a recovery in corporate earnings after a low-performing year [16][17] - Three tiers of earnings recovery are identified: 1. Technology and pharmaceutical stocks in Hong Kong showed significant year-on-year earnings growth, exceeding 100% for some [18][19] 2. Stable earnings growth was observed in consumer sectors and value styles, with A-share pharmaceuticals also recovering [22][24] 3. Some sectors, like A-share consumer and real estate, remain in a low-performing phase with no signs of recovery yet [26][28][29] - The overall economic low point is expected to occur in 2024, followed by a gradual recovery [30] Group 3: Investment Tools and Features - A new feature in the "Today Stars" app allows users to view core data and real-time valuations of mainstream ETFs [31] - The app supports tracking ETF premium/discount rates and historical valuation data [33] - Users are encouraged to provide feedback on additional data or features they would like to see [32]