Against the backdrop of the continuous depreciation of the Chinese Yuan rate and market concerns about China's economic recovery, overseas Chinese-funded stock markets failed to continue the previous two weeks of gains driven by favorable policies. Of course, the effects of policies and market bottoms usually take some time to manifest, and the usual sequence is policy bottom, sentiment bottom, market bottom, capital flow bottom, and then profit bottom. We believe that we are currently at the "policy bottom," so the market has downside protection, but the speed and strength of subsequent rebounds still largely depend on future policy developments, especially those more powerful policies mentioned above.However, recent inflows of southbound funds have remained very strong, with inflows last