Wu Qidi, head of research at Yuanda Information Securities Institute, said the
primary headwind to the current market correction is the persistently high U.S.
10-year Treasury yield. As the global risk-asset anchor, elevated U.S. yields
are weighing on global equities, particularly high-valuation technology and
growth stocks. He added that fundamentals show no signs of deterioration:
disclosed Q3 results indicate many sector leaders continue to post profit growth
and the earnings-recovery trend among listed companies remains intact.
