As the year draws to a close, market volatility on a global scale is on the rise. How should institutional investors navigate this environment? Several foreign investment firms are of the opinion that refining portfolio composition is crucial. In the A-share market, certain foreign investors are maintaining their positions in technology-driven growth sectors, notably AI, and are using sector rotations to zero in on areas experiencing broader adoption, such as power equipment. The Hong Kong stock market, which is witnessing an early recovery in fundamentals and a convergence of attractive investment opportunities, is anticipated to keep gaining strength. Additionally, the temporary (instead of "phased", here "temporary" is more appropriate in this context to describe the short-term nature of the price retreat) decline in gold prices presents an excellent chance for medium- to long-term investment positioning.