China Galaxy Securities: Late April will become a key window to verify profit recovery

China Galaxy Securities said that this week’s market conditions are marked by repeated bouts of external conflict expectations, with domestic fundamentals recovery and liquidity restoration intertwined. External geopolitical conflicts have repeatedly disturbed the environment, and international oil prices have continued to oscillate within a high range, which also directly triggered the intraday rise and subsequent pullback in the indices during the week. From the internal side, the domestic economy’s fundamental base is recovering, the trend of inflation is rebounding, and liquidity expectations are improving—together supporting the resilience of A-shares. In late April, it is the intensive period for the release of annual reports and first-quarter reports, which will be a key window for validating the recovery in earnings. (First Financial)