According to CITIC Securities' research report, the transition from the third to the fourth quarter could mark a pivotal entry point for the index bull market. However, a transitional period of approximately 3 to 4 months is anticipated beforehand. On the macroeconomic front, domestic demand and price signals remain subdued, prompting expectations for more pragmatic policies aimed at alleviating internal competition and stimulating domestic demand. The uncertainty in overseas markets is pronounced, with the implementation of the US tax cut bill potentially sparking a fresh wave of market turmoil. At the market level, A-share small caps and trending themes have reached elevated levels and may encounter volatility following months of exceptional performance.

In terms of strategic responses, investors can lean on high-growth industrial trends like AI to mitigate macroeconomic disruptions. Notably, there have been favorable developments in AI applications in North America recently, with the Chinese market anticipated to follow suit. Furthermore, a balanced cross-market allocation strategy is also effective. The liquidity of Hong Kong stocks is continuously improving, and fluctuations in overseas markets could present an opportune moment to increase positions.