Following the National Day holiday, the A-share market witnessed fluctuations, largely influenced by external environmental elements and 'profit-taking' behaviors. The technology sector, notably semiconductors, which had previously enjoyed substantial gains, saw a notable pullback. In contrast, defensive sectors such as banking demonstrated robust performance. This divergence has ignited a debate regarding whether a market style shift is underway. Some institutions assert that a capital-level style transition is already in motion, whereas others contend that technology growth remains the central narrative. Nevertheless, institutions generally concur that the long-term upward trajectory of the A-share market remains unaltered.
