Guangda Securities: The market may enter a wide range of fluctuations in the short term.

Jin10 data on October 12 reported that Everbright Securities released a research report stating that in the short term, the market may enter a wide fluctuation phase. On one hand, after the previous rise, the market valuation is at a relatively high level compared to recent years, and some funds are relatively cautious. Coupled with the significant uncertainties in Sino-U.S. relations, the market risk appetite may decline. On the other hand, with the 20th National Congress of the Communist Party approaching, market policy expectations are expected to heat up, along with the Fed still having room for interest rate cuts within the year, which may provide support to the market. Therefore, under the intertwining of multiple factors, in the short term, the market may enter a wide fluctuation phase. In terms of industry allocation, in the short term, focus on high dividend and consumer zones, and in the medium term, pay attention to TMT and advanced manufacturing zones.