East Money Strategy (2026-07-28)

English summary

# East Money Strategy (2026-07-28) From a bull market for a few companies to a bull market for more companies. 1. In H1, it was a bull market for a few companies; the distribution of individual stock returns was overall left-skewed, and market gains were mainly driven by a few companies. In H2, the return distribution shifts right overall, and the bull market carrier is expanding to more companies. 2. Public funds have begun rebalancing; the proportion of funds that actually outperform their mid-year heavy holdings has increased, indicating that some funds may be switching from old main lines such as TMT to new main lines such as blue-chip value that have recently led gains. Risk Disclosure: The content in this image presents objective data for reference only and does not constitute any investment advice. Contact: Chen Guo / Jin Ke