Wu Qidi, director of the Yuanda Information and Securities Research Institute, said that the main suppressing factor in the current market adjustment comes from the high level of US 10-year Treasury yields. As the “anchor” of global risk asset pricing, US bond yields continue to be high, putting a lot of pressure on global equity assets, especially technology growth sectors with relatively high valuations. “We have not found any fundamental issues. Judging from the three quarterly reports that have been disclosed, the profits of many leading companies in the industry are still growing, and the trend of continuous recovery in the performance of listed companies has not been interrupted.”

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