On May 5, Guosen Securities reported that since March 23, the A-share market has rebounded, with major indices recovering losses incurred during the Middle East conflict and returning to previous highs. According to Jin10, the average daily trading volume for A-shares in April was 2.35 trillion (2.35万亿), which is lower than the January level of over 3 trillion (3万亿), indicating that market sentiment still requires time to fully recover. The ongoing uncertainty in the Middle East, including the blockade of the Hormuz Strait, has led to high oil prices, exacerbating stagflation expectations and potentially suppressing equity assets. The A-share market has accumulated significant gains during the April rebound, suggesting that short-term fluctuations may occur following rapid increases. Looking ahead, negative factors domestically and internationally may become clearer, and short-term volatility is unlikely to alter the market's upward trend.