CITIC Securities: Strait navigation approaching, awaiting demand replenishment

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Deep Tide TechFlow News, May 24 — CITIC Securities believes that the U.S. and Iran are increasingly close to reaching an agreement, and the market has basically priced this in as the baseline scenario.
The biggest change after the agreement is the simultaneous replenishment of supply and demand and a rapid warming of economic activity.
Currently, some economic indicators are noticeably weak, reflecting delayed demand ahead of the U.S.-Iran agreement and the Strait of Hormuz shipping resumption.
Microeconomic entities are waiting rather than rushing to restock and restart projects.
This is an abnormal disturbance.
Once the agreement is reached and the Strait resumes navigation, supply and demand will return to normal.
From June onward, economic activity will show significant improvement, and changes in macro variables will also alter the environment assumptions for market strategies, leading to a gradual balancing of styles.
Large capital reductions are nearing their end.
After macro stability is achieved, allocation funds will gradually return, driving some undervalued sectors to recover.
In terms of allocation, continue to actively reduce volatility, and reconstruct the AI + energy transformation "barbell" structure.
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