Strategy of Dong Wu: A new round of trade with the East rising and the West declining may soon be imminent.

East China Securities believes that the key driver of China's market resurgence is the weakening US dollar. Under the impact of Trump's policies, debt crisis, and potential risks in fundamentals, the weak dollar will continue to be the benchmark assumption. It is expected that after the US dollar index falls below the previous low of 97.9 in late June, A-shares will begin a new round of "rising in the east and falling in the west" trading. The liquidity overflow driven by the weak dollar will benefit non-US markets, Chinese assets, and favor technology growth styles.