External Disturbances Do Not Undermine A-Share Resilience; Institutions Advise Focusing on Earnings Certainty

Following the National Day holiday, the A-share market experienced a certain degree of adjustment. However, on October 9, the A-shares staged a 'V-shaped' reversal, with the Shanghai Composite Index reclaiming the 3,800-point threshold and several broad-based ETFs seeing significantly increased trading volume. This week, multiple securities firms analyzed in their strategy outlook reports that after consecutive adjustments, pessimistic sentiment in the market has been sufficiently digested. Coupled with continued domestic policy support, short-term disturbances will not alter the intrinsic resilience of A-shares. Subsequently, as the window for disclosing third-quarter reports opens, structural repair opportunities remain for A-shares in October, with earnings delivery becoming the core anchor for market pricing.