机构论后市丨跨年行情可期；市场或酝酿新一轮交易脉冲

Core Viewpoint - The A-share market is expected to experience a cross-year rally supported by new policy deployments, with a focus on TMT and advanced manufacturing sectors, while defensive and consumer sectors may be considered in the short term due to external factors [2]. Group 1: Market Performance - The Shanghai Composite Index fell by 0.34% this week, while the Shenzhen Component Index rose by 0.84%, and the ChiNext Index increased by 2.74% [2]. Group 2: Institutional Insights - Everbright Securities: Anticipates a cross-year market rally supported by new policy measures, with a focus on TMT and advanced manufacturing sectors. If external factors lead to market fluctuations, defensive and consumer sectors should be monitored [2]. - Tianfeng Securities: Notes that the CPI continued to rise year-on-year in November, while PPI's decline widened slightly. The market may be preparing for a new trading pulse before March, amidst a performance vacuum and policy negotiations [3]. - Guotai Junan: Believes that the market is entering a cross-year offensive, with expectations for policy upgrades and increased trading activity. The focus is on technology, brokerage insurance, and consumer sectors, as the market is expected to recover from previous adjustments [4]. - CITIC Securities: Emphasizes the importance of seeking intersection in investment strategies, focusing on overseas exposure and positive changes in domestic demand. Highlights the potential for resource and traditional manufacturing sectors to benefit from global market positioning [5].