HTSC(601688) 快讯·2025-04-27 23:42Core Viewpoint - The market is experiencing a short-term "window period" as domestic policy expectations and external tariff fluctuations intertwine, leading to a cautious sentiment among investors [1] Group 1: Market Dynamics - A-shares continue to recover with reduced trading volume as the political bureau meeting convenes and the first phase of tariff disturbances nears its end [1] - The emphasis on "bottom-line thinking" during the political bureau meeting supports risk appetite, although uncertainties regarding tariffs remain [1] Group 2: Future Outlook - The market is expected to maintain a volatile pattern before the holiday, with attention on the progress of China-US tariff negotiations, high-frequency data around May Day, and the US April non-farm payrolls [1] - The urgency of tariff policies and domestic responses has decreased in the short term, suggesting a shift in focus towards fundamental insights following earnings disclosures [1] Group 3: Investment Strategy - In the current environment of uncertainty, prioritizing risk-reward ratios is recommended, with a mid-term strategy focusing on a combination of dividends, domestic demand, and self-sufficiency [1] - There is a marginal increase in allocation towards service consumption and high-cost-performance technology sectors [1]