Xingye Securities pointed out that the market is gradually forming a bull run mentality, with significant inflows of capital, especially from higher-risk funds. Meanwhile, low-risk funds are focusing on structural opportunities, seeking out undervalued segments. Insurance capital continues to increase its allocation to equity assets and expand its investment scope. The performance of actively managed equity funds has improved, and foreign capital has also returned to A-shares, indicating an increase in participation and allocation willingness.

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