The research report released by CITIC Securities highlights that, since October, the success rate of timing strategies has remained stagnant despite an uptick in market volatility. This phenomenon can be primarily attributed to shifts in the composition of incremental funds. Specifically, the steady influx of absolute-return funds, known for their risk-averse nature, has diminished the efficacy of traditional, high-risk timing strategies.

Presently, the stability of the corporate overseas expansion environment and the progress of AI technology emerge as pivotal factors shaping market dynamics. These elements are intricately linked to Sino-US relations and the advancement of AI infrastructure. Notably, the influence of AI extends beyond the TMT (Technology, Media, and Telecommunications) sector. Price fluctuations in industries such as non-ferrous metals, chemicals, and new energy are now directly or indirectly swayed by AI trends. Remarkably, these sectors collectively constitute over 60% of institutional holdings, underscoring the profound impact of AI on the broader investment landscape.