This was the first time since last December that the interest rate was cut by 25 basis points. Although the rate was moderate, it carries significant implications. Historical experiences indicate that market performance after the Federal Reserve (FED) begins a rate-cutting cycle often does not explode immediately but reacts gradually. Currently, funds have started bidding on expectations of rate cuts in October and December, and the risk asset environment in the second half of the year will not be bad.

The market has not ended; it has just entered a new phase. Volatility is merely a manifestation, while the cycle of interest rate cuts is the larger logic. Be patient, set your plans at low levels, and wait for the true turning point in the market. The logic of the bullish market has not changed; adhering to the rhythm of long-term investors is more important than chasing short-term volatility.
Mr. Zhang TB