CITIC Securities: In the background of a slow bull market, will the securities sector be absent from the market?

The CITIC Securities research report pointed out that although the securities sector recently rose and fell, the short-term adjustment does not mean the end of the market. From the perspective of valuation, the sector is currently in the bottom range with strong fundamental support. Through quantitative calculation, in the slow bull pattern, there are two upward paths for the securities sector: one is to gradually realize valuation increase and make up for the rise based on the stability of trading volume; the other is to breakthrough the valuation upper limit and open up the rise space with the help of the catalyzing effect of unexpected financial policies. Both scenarios indicate that the securities market will not be absent, and the opportunity to enter the market at the lows is gradually approaching.