Xin Lang Cai Jing·2025-12-26 03:56Core Viewpoint - The chief analyst Fang Yi from Guotai Junan has indicated that his previous prediction of the A-share market reaching and stabilizing at 4000 points by the end of the year is gradually being realized, with a positive outlook for the cross-year market trend from December to February [1][7]. Market Sentiment and Predictions - Fang Yi noted that the market sentiment was pessimistic on November 23, but Guotai Junan encouraged investors to take proactive steps, suggesting that the market is on track to validate the path of reaching 4000 points in October, stabilizing by year-end, and potentially rising further before the Spring Festival [1][7]. Sector Focus - Fang Yi emphasized a positive outlook on the technology, brokerage, and consumer sectors, reiterating a long-term optimistic view on China's "transformation bull market" potential by 2026 [3][9]. Asset Allocation Recommendations - In terms of asset allocation, Fang Yi revisited his 2024-end forecast for 2025, highlighting "emerging technology as the main line and cyclical finance as a dark horse," with a strong recommendation for the ChiNext and Hang Seng Technology indices. Looking ahead to 2026, he believes the logic of emerging technology will continue, with a focus on transformation opportunities in cyclical and consumer sectors, while large financial institutions still hold investment value, specifically recommending the A500 and ChiNext 50 indices [4][10].