十大券商一周策略：A股市场有望迎接春季“开门红”，重视“有故事”、“有业绩”的弹性机会

Group 1 - The overall sentiment for the A-share market in 2026 is optimistic, with expectations for a "good start" driven by policy support, RMB appreciation, and new capital inflows [1][6][12] - The structural bull market in 2025 was characterized by significant performance, ranking third in the past decade, driven by a reassessment of China's technological capabilities and resilient external demand [2][3] - The balance between external and internal demand is expected to be a key factor in 2026, with policies aimed at boosting domestic consumption and stabilizing investment [2][7] Group 2 - The market is anticipated to experience upward fluctuations in early 2026, supported by low investor sentiment and a lack of major unexpected risks [3][4] - Key sectors for investment include AI technology, domestic consumption, non-bank financials, and cyclical products with pricing logic [1][9] - The technology sector is expected to continue its strong performance, with a focus on semiconductor and AI-related industries, as well as emerging themes like commercial aerospace and robotics [9][41] Group 3 - The recent increase in cross-regional travel during the New Year holiday indicates a strong recovery in consumer sentiment, which may positively impact the market [11][12] - The A-share market is likely to maintain a structural trend, with a focus on sectors that can benefit from policy changes and economic recovery [12][19] - The anticipated liquidity improvements and policy support are expected to enhance market confidence and drive investment in high-growth sectors [27][28]