长城基金汪立：新兴科技有望重回主线，适度关注低估值消费与券商

Core Viewpoint - The market is entering a phase of emotional recovery, with expectations for a rebound in financing buy-in amounts and transaction ratios as risk factors begin to stabilize [1][4]. Group 1: Market Trends - Since the market correction in October, both financing buy-in amounts and transaction ratios have significantly declined, but there has been a recent uptick in two-way financing activity as market risk appetite stabilizes [1][4]. - The overall market is expected to enter a phase of emotional recovery, with financing buy-in amounts and transaction ratios likely to gradually rebound [1][4]. Group 2: Investment Strategy - It is considered an appropriate time to position for the spring market, with emerging technology expected to regain prominence, alongside a focus on undervalued consumer stocks and brokerage firms [2][5]. - The technology growth sector is anticipated to benefit from improved global competitiveness, opening new growth opportunities for Chinese companies, particularly in sub-sectors like internet, semiconductors, media, power equipment, and innovative pharmaceuticals [2][5]. - The consumer sector is showing signs of bottoming out, with valuations and holdings at historical low levels, suggesting potential opportunities in consumer goods, hotels, airlines, and retail [2][5]. - The non-ferrous metals sector may see significant boosts from easing expectations, offering a favorable valuation compared to other popular sectors, thus presenting attractive investment opportunities [2][5].