The CITIC Construction Investment Research Report points out that this week's market is a typical technical correction of an overdraft, and the basis for a trend reversal is not yet strong. The market's endogenous recovery momentum is still weak, and it is highly dependent on policy support funds, and fluctuations in peripheral US technology stocks are still disrupted. It is expected that the bottom of the index may still be repeated. The continuation of the subsequent rebound requires focusing on observing the level of quantitative amplification, the level of capital support for market stabilization, and the implementation of industrial policy catalysts. In terms of allocation, the layout can be flexible around domestic substitution, photovoltaic energy, etc., and high-dividend assets can be used as bottom positions to fluctuate smoothly; sectors with large overseas exposure still need to be wary of external liquidity and uncertainties on the demand side.

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