Shenwan Hongyuan: Bull market atmosphere not easy to disappear, slowing down would be better.

Shenwan Hongyuan's research report stated that the judgment that the bull market atmosphere is not easy to disappear is being verified. In the short term, the market is digesting the contradiction between price and value, but during the adjustment phase, the market still maintains a certain level of heat. The new structural market, while still very flexible, awaits new catalysts and new main index entries. As the market rhythm slows down, it is important to fully understand the depth of the bull market. With time already on the side of the bull market, it is expected that the channel for residents to increase their allocation of equity will become smoother, leading to further improvements in success rate and odds. Fundamentals are only limited to short-term bright spots, but the direction of medium-term prosperity will continue to increase; Price-to-value ratio is only low in the short term, but in the medium to long term, it is far from being extreme; The supply and demand of funds are only temporarily flowing in too quickly, but the possibility of moving funds in the medium to long term may still be in the bottom area. It is indeed better for this round of bull market to slow down.