Market Overview - The A-share market experienced significant declines from November 17 to November 21, 2025, with the top three broad indices showing losses: Shanghai 50 (-1.87%), Shenzhen Dividend (-2.09%), and Dividend Index (-2.57%) [9] - The worst-performing indices included North China 50 (-9.77%), Wind Micro-Pan Daily Equal Weight Index (-8.22%), and CSI 2000 (-7.37%) [9] Style Indices - Among style indices, the top three performers were Large Cap Value (-0.78%), Financial (CITIC) (-1.80%), and National Value (-2.48%) [12] - The bottom three were Small Cap Growth (-6.21%), Growth (CITIC) (-6.12%), and Small Cap Value (-5.99%) [12] Sector Performance - The leading sector index was Banking (0.42%), followed by Media (-1.41%) and Household Appliances (-1.47%) [15] - The sectors with the largest declines included Electric Power Equipment (-9.92%), Comprehensive (-9.26%), and Basic Chemicals (-8.15%) [15] Market Sentiment and Predictions - The macro timing model for November 2025 scored -5, indicating a high probability of adjustment for the Wind All A Index historically [19] - Despite the negative sentiment, there is an expectation for a market rebound after reaching an emotional low, particularly if the US market stabilizes [19] Fund Allocation Recommendations - The report suggests a balanced ETF allocation strategy, anticipating a wide-ranging market fluctuation while waiting for further stabilization in overseas markets [72] - Risks include potential model failures based on historical data, macroeconomic underperformance, and unexpected macro events [4]