[The "combination punch" of market stabilizing policies has been exerted, and institutions have strengthened their countercyclical layout] November 10th, since November, the "combination punch" of market stabilizing policies has continued to exert force, and measures such as swap convenience operations, stock repurchases, holdings, and refinancing, countercyclical adjustment of the two financings, and guiding active ETFs to accelerate the construction of positions have been coordinated. At the same time, the valuation of the main broad-based indexes in the A-share market has fallen back to the historically low range, the dividend yield is more cost-effective than the risk-free interest rate, and the pressure on chips has eased. Many institutions stated that they are strengthening their countercyclical layout with a focus on profit quality and performance realization, and through balanced allocation, they are seizing investment opportunities brought about by valuation restoration and fundamental improvement. "The continued improvement of policies echoes the long-term momentum accumulated in the process of economic transformation and upgrading. Against the background of profound changes in the global landscape and accelerated evolution of technological innovation, China's complete industrial system, ultra-large market advantages and policy coordination capabilities are providing increasingly solid fundamental support for the capital market." Southern Fund said. (Shanghai Securities News)