Galaxy Securities: The trend of A-share market will continue to reflect the connotation of "taking me as the mainstay" and is expected to show greater resilience.

Galaxy Securities research report indicates that in the short term, the announcement of the "Joint Statement on Sino-US Economic and Trade Negotiations in Geneva" has released a positive signal of easing Sino-US economic and trade relations, which helps to reduce market risk aversion. At the same time, the potential pressure of trade frictions on domestic economic growth is alleviated, and corporate profit expectations are expected to be revised upwards. However, this round of agreement is a phased outcome of Sino-US negotiations, and the future direction of tariff policies is subject to fluctuations and uncertainties. In the long term, the trend of the A-share market will continue to reflect the connotation of "taking control ourselves" and is expected to show greater resilience. In terms of allocation, it is recommended to focus on three major directions: firstly, with increased uncertainty in the external environment, dividend sectors with relatively strong earnings certainty and stable dividend returns have defensive attributes. Secondly, the logic of the "technology narrative" in the A-share market is clear, and it is recommended to focus on catalytic opportunities for future industry trends. Thirdly, pay attention to opportunities in the consumer sector, with policy support for service consumption, expansion of the "two new" policy coverage and quality improvement, driving market recovery.