Late April may usher in a crucial turning point, with the market further focusing on earnings certainty.

Before the Qingming holiday, the A-share market showed a volatile and differentiated trend under the intertwining of pre-holiday risk aversion and disturbance of Middle East geopolitical conflicts. Facing the frequent fluctuations of the Middle East geopolitical conflicts, the institutional strategy outlook report this week judges that late April is expected to be a key time window for marginal improvement in domestic and foreign environments. At the same time, as the sensitivity of funds to changes in the Middle East geopolitical conflicts gradually weakens, the A-share market has likely found a short-term bottom. Subsequently, with the intensive disclosure of annual reports and first-quarter reports of listed companies, active funds are expected to gradually shift towards fundamental pricing, exploring opportunities for prosperity and performance certainty in external uncertainties.