Equity market continues to decline, all equity FOFs are in the negative, dividend assets once again become a safe haven.

Last week, the A-share market fell under the influence of multiple factors, with the Shanghai Composite Index dropping 3.38%. Public offering FOF funds had a low success rate, with all stock FOF funds showing negative returns while retirement target FOF funds performed well. The market may be facing a period of consolidation for a while, but there is potential for incremental funding. The number and size of newly established public offering funds is increasing, and several hard technology themed funds have been approved. Institutions believe that the market will shift from rising valuations to rising performance, with the Hong Kong stock market possibly experiencing a short-term overcorrection, but the overall trend remains positive. It is recommended to focus on the broad growth sector.