China Securities Journal: Increased pace of incremental capital entering the market; A-shares have relatively good investment appeal.

Wind data shows that as of October 23, stock ETF funds have seen a cumulative net inflow of over 280 billion yuan since the start of October, and listed companies have cumulatively repurchased more than 17 billion yuan. As the market continues to fluctuate, A-share valuations have reached relatively low levels. Analysts believe that the overall valuation of the A-share market has fallen below the historical average, and both horizontal and vertical comparisons show good investment appeal. There is no need to be overly pessimistic about A-shares at present; in the short term, the market may be dominated by volatility-driven bottoming and structural opportunities.