For the household sector, there are very few "high-yield assets" left that compete with stocks for deposits

GF SECURITIES believes that the positioning of the capital market is improving, and there is no shortage of money in the market. The relocation of residents' deposits has just begun, and there is potential for future growth. Currently, there are few high-yield assets that can compete with stocks, with fixed deposit rates falling below 1%, the yields on wealth management products declining, the bond market bull run temporarily coming to an end, and housing prices still not stopping their decline. Although this year's stock market has attracted some deposit relocation with high returns and low volatility, there is still room for growth in the future