Gelonghui May 27| CITIC Construction Investment Research Report on May 27 pointed outcryptogalacticanft, the recent Federal Reserve rate cut expectations continue to shift backwardcryptogalacticanft, Exchange rate pressure rose, and China issued special treasury bonds, but the previous market expectations of reducing reserve rates and interest rates did not materialize, and net investment did not occur. The implementation of new rules on reducing A-share holdings, and the recent restart of IPO reviews, broad-based ETFs showed outflows and the margin of micro-liquidity shrank. The export boom is still there, and the recovery of domestic demand remains to be seen. Strategically, we can still be optimistic about A-shares, and tactically, we should focus on defense in the short term and wait patiently. The configuration is still based on dividends and bottom positions, while focusing on industries with independent fundamental logic.
