A 股中期向好逻辑未改变对外部扰动无须过度悲观

In the last two trading days, the A-share market experienced significant fluctuations. On Thursday, the Shanghai Composite Index returned to the 3900-point mark for the first time in ten years; on Friday, major indices adjusted at high levels, with previous hot topics such as artificial intelligence and solid-state batteries seeing profit-taking. Subsequently, overseas factors caused further disturbances, with the three major U.S. stock indices collectively declining last Friday local time, and both the S&P 500 Index and the Nasdaq recorded their largest single-day drop since April. Looking back at the market in April this year, the A-shares also underwent significant adjustments due to adverse external factors, but subsequently regained all losses and reached new highs in several years. The latest assessments from brokerage research reports indicate that the mid-term positive logic for A-shares has not changed, and the market's adaptability and learning effects are strong, so investors need not be overly pessimistic. The decline caused by external shocks may present a good opportunity to increase holdings in Chinese assets, and institutions continue to be optimistic about the ongoing development of China's technology industry