#A-shares

If a slow bull market and a long bull market really can be achieved for the first time in history, then it’s worth speculating about the next phase of the trend: because the “old leaders” stocks have relatively good performance, lower P/E ratios, and higher dividend yields, so if the current A-share market breaks the existing inertia and no longer turns into such a short bull phase—and instead the bull market continues—then capital preferences may shift toward the “old leaders” stocks. Yesterday, broad-based ETFs entered the market with tens of billions of yuan, including the CSI 300. Then, the Sci-Tech Innovation 50 may undergo a correction for about a month or even longer, pulling back by several dozen points, while the “old leaders” stocks gradually take the lead. This kind of buffer helps hedge the overall market, so it won’t look too ugly. Then, the “old leaders” stocks keep rising, and once the Sci-Tech Innovation 50 has finished its correction, another wave will come. In this way, the bull market can be sustained for a long time.