As per the latest report by Huatai Securities, the A-share market witnessed a new peak in trading volume last week, amidst sustained vigor in transactional funds. Robust stock market liquidity emerged as the primary catalyst behind this market performance. Notably, financial data highlighted a divergence between real credit and M1 on a year-over-year basis, with traditional industries displaying a muted overall β performance. However, deposit data unveiled indications of residents' funds flowing into the market. Should the stock market sustain its profitability, demand deposits could potentially become a significant source of incremental funds in the future. Currently, residents' entry into the market is primarily fueled by leveraging existing funds, with leverage funds experiencing unprecedented activity levels. Although the number of new accounts opened, new public offerings, and private equity filings have increased, their growth rates remain constrained. Concurrently, ETFs have seen an overall net outflow over the past month, with notable differentiation among industries. Additionally, foreign capital and insurance funds, identified as potential incremental funding sources, have also witnessed a surge in activity recently. Given the market's robust trend, investors are advised to maintain a significant position. In terms of allocation strategy, AI Chain, Innovative Drugs, Military Industry, and Large Finance continue to be the primary focus, necessitating internal adjustments to strike an appropriate balance between high and low configurations.