沪指录得“8连阳” 机构看好“跨年—春季”行情

Core Viewpoint - The A-share market is experiencing a sustained upward trend, with the Shanghai Composite Index achieving an 8-day consecutive rise, attributed to multiple favorable factors both domestically and internationally [2][3]. Group 1: Market Performance - As of December 26, the Shanghai Composite Index closed at 3963.68 points, up 0.10%, marking the longest consecutive rise of the year since December 17 [2]. - The total trading volume of the A-share market exceeded 407 trillion yuan, setting a new annual record as of December 23 [3]. Group 2: Monetary Policy and Liquidity - The People's Bank of China (PBOC) announced a 400 billion yuan operation of one-year Medium-term Lending Facility (MLF) to maintain reasonable liquidity in the banking system, resulting in a net injection of 100 billion yuan for December [3]. - The PBOC's actions are aimed at stabilizing the funding environment, with a focus on maintaining a relatively stable and ample liquidity state [3]. Group 3: Seasonal Market Trends - The "cross-year-spring" market phenomenon is characterized by seasonal trends in the A-share market, often occurring from December to February, driven by improved liquidity, favorable policies, and increased risk appetite [4]. - Historical data indicates that significant market movements typically begin in December and are influenced by multiple factors rather than just calendar effects [4]. Group 4: Investment Opportunities - Analysts suggest that the current market environment is conducive to structural opportunities in the technology sector, particularly in AI applications and cyclical sectors like chemicals and non-ferrous metals [7]. - The central economic work conference emphasized innovation and the development of new growth drivers, which may further support investment in technology and related sectors [7]. Group 5: Future Market Outlook - The market is expected to see a rotation among sectors, with technology stocks likely to remain a key investment focus in 2026, alongside sectors such as new energy, consumption, and military [7]. - Investors are advised to pay close attention to industry cycles and market sentiment to optimize asset allocation in the evolving market landscape [7].