Core Viewpoint - The A-share market is expected to experience a cross-year rally, with several brokerage firms optimistic about the investment strategies for 2026, particularly focusing on sectors with positive earnings forecasts and improving economic conditions [1][2]. Group 1: Market Outlook - Guangfa Securities anticipates marginal improvement in A-share company earnings, continued positive policy stance, ample market liquidity, and a gradual easing of external disturbances, making the cross-year rally promising [2]. - CITIC Construction Investment believes the current bull market, initiated by policy shifts and liquidity improvements, will continue into 2026, with a focus on fundamental improvements and economic validation [2]. - Huaxi Securities notes that December will be a critical observation period for domestic and international policies, potentially raising market risk appetite and creating opportunities for cross-year positioning [2]. - CICC expects the ongoing upward trend in A-shares since September 24 to persist, with an estimated overall earnings growth of around 4.7% for 2026 [2]. Group 2: Sector Focus - CITIC Construction Investment identifies technology growth as the most logical direction for investment, while cautioning against potential short-term corrections in the tech sector [4]. - Shenwan Hongyuan emphasizes that the recent adjustments in the tech growth sector are primarily to digest previous high valuations, suggesting a mid-term bottoming phase [4]. - Zhongjin Company highlights that the global macro environment and trends in innovative industries remain favorable for growth styles, with a balanced market style expected in 2026 [4]. - Guotai Junan suggests that robotics and brokerage stocks may become key focuses leading up to the 2026 Spring Festival, alongside potential trading opportunities in consumption and real estate sectors [5].
多家券商发布2026年A股投资策略报告 跨年行情可期待 科技成长受青睐
Shen Zhen Shang Bao·2025-12-01 23:30