Stable and active signals from the capital market indicate that the risk preference of A-shares continues to increase.

Last week, the main A-share indexes continued to rebound, with trading activity picking up slightly. However, the rebound trend showed some differentiation, with the ChiNext Index and the Shenzhen Component Index rising by 1.74% and 1.38% respectively, outperforming the Shanghai Composite Index. Looking ahead to the market trends in May, institutional analysis suggests that with positive policy signals, macroeconomic recovery, and adequate liquidity, A-share market risk appetite is expected to continue to increase. Sectors with continuous catalytic factors in terms of policy and industry are likely to be the focus of trading.