Today, both markets opened lower with gaps, and heavyweight stocks led the gains again at the beginning of the session, crushing the ChiNext and STAR boards.

The market has already priced in risks earlier, so the current adjustment is relatively healthy and won't be as disastrous as the previous two days of crash-like plunges.

Today is the infamous "4.19 curse," and with the two troublemakers in the Middle East clashing again, the market was bound to perform poorly.

In terms of sectors, defensive plays like oil & gas, non-ferrous metals, and Russia-Ukraine conflict-related stocks led the gains today, mainly driven by geopolitical tensions. Consider accumulating some positions before the close, as these themes may continue to develop over the weekend.

So, the A-share market is highly sentiment-driven—everyone needs to understand that.

Avoid chasing resource stocks today. With two days left in the weekend, the U.S. is likely to intervene. If negotiations resume, these stocks could get crushed on Monday. In a rotational market, only dip-buying and early predictions work.

If you want to position ahead, focus on: newly listed stocks. There are seven days left this month, which is the peak period for earnings disclosures. The closer to the deadline, the higher the risk of negative surprises. That’s why funds typically shift to newly listed stocks every late April.