Group 1 - The core viewpoint is that the macroeconomic environment in China is expected to remain stable in 2026, but market volatility may increase, making it difficult to replicate the "steady happiness" market of 2025 [1] - The investment strategy suggested includes balancing asset allocation based on individual risk preferences, with a focus on dividend assets, technology, and domestic demand sectors for structural opportunities [1] Group 2 - For the A-share and Hong Kong stock markets, a fluctuating operation with a gradually rising central tendency is anticipated in 2026, due to limited support from economic growth for corporate profits and market valuations moving away from significantly undervalued levels [2] - The support logic for market reversal since late September 2024 remains solid, with the capital market playing a more important role in social financing and long-term funds, such as state-owned insurance, buffering market downturn risks [2] - Three key investment directions for 2026 are highlighted: dividend assets for higher certainty in returns, technology sector focused on AI with rapid penetration despite valuation disputes, and the domestic demand sector which has been undervalued and requires time for market recognition [2]
南方基金唐小东：市场中枢有望缓步抬升 做好均衡配置把握结构性机会
Zheng Quan Shi Bao·2026-01-04 17:48