The Morgan Stanley Fund stated in an article that the current factors affecting the A-share market are still mainly domestic, while the impact of overseas factors has temporarily weakened; at the same time, long-term factors will have a greater influence than short-term factors. The Ministry of Finance's press conference on Saturday specifically stated that the fiscal policy will increase counter-cyclical adjustment efforts, including issuing 400 billion yuan of local government bonds, increasing the debt limit by a large scale to replace the hidden debts of local governments, using special bonds for real estate acquisitions, increasing student subsidies, issuing special national bonds to supplement bank core Tier 1 capital, and clarifying that the central government still has a large amount of borrowing space and deficit expansion space. It can be said that the statement of the Ministry of Finance is extremely positive, and subsequent fiscal policies are expected to be implemented gradually, bringing a boost to investor confidence and making the valuation recovery of A-shares still worth looking forward to. Domestically, the short-term factors include the upcoming September economic data and third-quarter GDP, while the long-term factors include future economic expectations brought by stabilizing growth measures. The focus of investors is on fiscal efforts as the most important macroeconomic policy. Internationally, recent US inflation, employment data, etc. will no longer have a significant impact on the market in terms of direction, as the Fed has already started the rate-cut cycle. Until there is significant secondary inflationary pressure that hinders the Fed from making continuous rate-cut decisions, it can be assumed that the Fed's policy is relatively positive for risk assets. Morgan Stanley Fund pointed out that overall, the market has recently shown a trend of rising and falling, with market sentiment reaching a peak at the beginning of the week, with record high trading volume, and the market's decline in the latter half of the week is a normal technical correction. During this period, some events, such as the positive statement made by the National Development and Reform Commission at a press conference, are believed to only elaborate on existing policies, with incremental measures lower than expected, and banks reiterating their strict prohibition on credit funds entering the stock market illegally. These events are superficial and may only have a certain impact on the market's volatility.