Today, the A-shares demonstrated a textbook-level structural differentiation—an overall net outflow of 3.1 billion, yet the market rebounded and rose across the board. Behind this is the market maker playing the trick of "selling defense to switch to offense."

Funds are clearly rotating among sectors. Defensive sectors like finance and consumption are being heavily sold off. Moutai saw a net outflow of 659 million shares, dropping by 0.17%, which is still bearable; Dongfang Caifu had a net outflow of 1.01 billion, and BlueFocus fared worse, with 800 million in funds withdrawing, resulting in a direct drop of 4.1%. The most ridiculous case is Sungrow Power Supply, where 1.4 billion in funds fled to top the selling list, yet the stock price only retracted by less than 2%.

On the contrary, the buying list is bustling. Technology and resources have become hot commodities — ZTE raised 3.81 billion in a single day and directly hit the limit up, Guanghetong pushed to a 20% limit up with 1 billion in funds, and companies like兆易创新, 紫金矿业, and 北方稀土 also saw net purchases close to 1 billion, with increases all above 4%. Even large-cap stocks like 宁德时代 managed to attract 667 million.

Interestingly, despite Qian Zhao Optoelectronics being net sold 663 million by market makers, its stock price surged 10.12%, indicating that retail investors are very enthusiastic about taking over. Overall, the market makers' sentiment today is somewhat optimistic, using small net sales to achieve market recovery and rebound, and the combination of technology and resources is very clear. This kind of "withdrawal and pull" operation may continue in the short term.