CICC: This round of market trends is expected to become an "enhanced version of 2013", with continued room for growth supported by optimism.

The Zhongjin Wealth public account stated in an article, "Bull markets always born in despair, grow in half-belief and half-doubt," the value of this sentence is still rising. This week, margin financing has exceeded two trillion, the Shanghai Composite Index has had eight consecutive gains, breaking through the new high of 2021, and the market enthusiasm has been fully ignited. The article enumerates three main financial forces that may currently affect the market: 1) Individual investors: The "asset shortage" meets the growth of deposits, combined with the money-making effect of the stock market, leading to an increased willingness for residents to enter the market. 2) Institutional investors: The A-share holdings of institutions such as public funds are at historically low levels, with room for improvement. 3) Foreign capital: The valuations of A-shares and Hong Kong stocks still have strong attractiveness, and are expected to benefit from the accelerated fragmentation and diversification of the global monetary system. Referring to historical precedents, the small-cap stock style bull market in 2013 is closer to the current situation than the comprehensive bull market in 2015. However, the difference lies in the greater policy support and more loose liquidity environment today. Therefore, this round of market trend is expected to be an "enhanced version of 2013," with room for continuation driven by optimistic sentiment. If we are already at the starting point of a bull market, how should we seize historical opportunities? Zhongjin offers three suggestions: 1) Select core tracks, embrace certainty: At the current stage, it is recommended to focus on high-growth and solid performance areas, such as AI/computing power, innovative pharmaceuticals, defense industry, non-ferrous metals and other sectors, securities firms and insurance companies with high performance elasticity direct beneficiaries of residents' funds entering the market, and low-volatility dividend sectors. 2) Actively respond to fluctuations, "holding on" is key. 3) Adhere to rationality and befriend time.