【今日重点关注的财经数据与事件：2026年10月26日 周一】 ① 17:00 德国10月IFO商业景气指数 ② 19:00 英国10月CBI零售销售差值 ③ 22:30 美国10月达拉斯联储商业活动指数

据伊朗塔斯尼姆通讯社：伊朗军方周日表示，伊朗防空系统在南部城市阿巴斯港附近击落一架美国“卢卡斯”无人机。

After the recent sharp sell-off, multiple A-share indicators are near historical troughs: volumes and turnover have collapsed to cycle lows, while ETF-led medium-to-long-term inflows have accelerated and stabilization efforts have intensified. Stabilization mechanisms are becoming more institutionalized, reinforcing a policy floor. Market bottoms tend to lead fundamental bottoms; corporate earnings and PPI remain on an improving trend, which is supportive for A-shares. External risks are limited by marked deleveraging in Japan and Korea, but US equity AI rerating appears shifting from investment expansion toward capital-return validation; together with elevated US Treasury yields and rising oil, this constrains easing and keeps higher rates a cap on valuations. Given historical precedence that ETF-supported troughs often precede rebounds, expect near-term range-bound bottoming with structural opportunities. Maintain balanced allocations and monitor key catalysts over the next two weeks. For the next 3–6 months: in a high-rate environment prioritize companies with strong earnings/cashflow (the 'numerator') and healthy shareholding/liquidity structures; when rates roll over, broaden exposure to technology; await further domestic policy follow-through to shift positioning toward domestic-demand beneficiaries.