Reviewing global asset performance during the National Day holiday: US Treasury yields remained elevated, gold assets fluctuated, crude oil prices surged then retreated, while US stocks, especially the AI tech mainline, continued to strengthen, with the Nasdaq and Nvidia hitting record highs. In Hong Kong stocks, driven by commercialization progress at the industrial level, AI large models became the market focus. As A-shares prepare for their first trading day after the long holiday, brokerage strategy outlook reports generally believe that there were no major headline shocks from overseas markets during the holiday, the market has restorative momentum, and A-shares are expected to see "rising volume and price" after the holiday, with a "Red October" rally anticipated.

Changjiang Securities stated that during the holiday, the 10-year US Treasury yield broke through 5.3% yet still did not suppress tech stocks, indicating that global capital at this stage is still willing to pay higher valuations for assets with certain prosperity. Overall, major overseas markets are entering a phase where "macro pressure remains, but capital is re-selecting the strongest earnings assets," so investors are advised to focus on core tech assets with earnings, orders, and industry trends. For A-shares after the holiday, the index is expected to maintain a volatile but slightly strong trading pattern, with tech expected to regain style dominance, and particular attention to rebound opportunities in the AI hardware sector. Additionally, concepts such as commercial aerospace and innovative drugs may show active performance.