►End of last year – midApril: Gradually bottoming out after expectations were dashedhe issuance scale and implementation speed of the trillion yuan treasury bond at the end of were lower than expected, resulting in a continued market correction. Subsequently, market sentiment recovered somewhat in February due to the unexpected interest rate and reserve requirement ratio cuts by the central bank and the active policy support of the China Securities Regulatory Commission. market expectations. Credit expansion was slow amid weak investment return expectations. The Hong Kong stock market remained weak overall, with the nonferrous metals sector leading the gains. Highdividend sectors that can bring stable returns, such as petroleum and petrochemicals, communications, and coal, were relatively resilient.
► Late April to midMay: Policy efforts and capital balance drive sweden phone number list the reboundn late April, the real estate "combination punch" and the launch of ultralong bond issuance boosted expectations. Funds, especially trading and allocation funds in some regions, quickly flowed back. Sentiment recovery drove a rapid rebound in Hong Kong stocks. Policysupported sectors such as real estate, building materials, and nonbanking led the gains, while growth sectors such as computers, media, and electronics led the gains.