CITIC Securities: It is expected that the market will gradually move out of the high volatility environment caused by the large-scale opening and concentration of funds in February.

CITIC Securities expects that the market in February will gradually emerge from the high volatility environment caused by the large opening and closing of funds. Asset pricing will also return to the two main themes of domestic policy strength, economic recovery, and overseas expectations of a Fed rate cut. In terms of asset allocation, there is still a need to tilt towards risky assets, and equity assets with relatively lower volatility will be a better choice.