关注科技与红利资产 机构看好2026年A股结构性机会

Group 1 - Multiple institutions express a positive outlook for the A-share market in 2026, citing structural opportunities driven by corporate profit improvement, capital allocation shifts, and policy optimization [1][2] - Morgan Stanley emphasizes China's critical role in the emerging markets landscape, with its weight in the MSCI Emerging Markets Index reaching 30%, indicating a strong commitment to investing in the Chinese market [1] - Invesco believes that the A-share market will benefit from long-term structural advantages of the Chinese economy, focusing on the recovery momentum of corporate profits and the shift in asset allocation from housing and cash to equity assets [1][2] Group 2 - The optimistic outlook for the A-share market is supported by ongoing policy benefits, steady corporate profit improvements, and favorable global capital allocation demands [2] - The new "National Nine Articles" policy encourages listed companies to enhance shareholder returns through dividends and buybacks, leading to a significant increase in dividend and buyback scales among Chinese companies [2] - The technology sector, particularly in AI, is highlighted as a key investment opportunity, with Chinese companies showing potential to innovate and compete globally [2][3] Group 3 - The biopharmaceutical sector in China is becoming a cost-effective key player in the global pharmaceutical supply chain, offering significant savings on R&D costs for international companies [3] - Invesco maintains a focus on the technology sector, believing that its long-term trends will remain unaffected by short-term fluctuations, while also paying attention to resource and cyclical opportunities [3]