节后A股高开稳了！三大主力悄悄调仓，新主线已藏不住？

Core Viewpoint - The A-share market is expected to open high after the Spring Festival, supported by favorable policies, strong external markets, and ample liquidity, with significant adjustments made by major funds in anticipation of new investment opportunities [3][4]. Group 1: Factors Supporting High Opening - The high opening of A-shares is backed by three solid supports: policy incentives, external market performance, and sufficient liquidity [3]. - The China Securities Regulatory Commission's reform on public fund fees is expected to benefit investors by 30 billion yuan and save 51 billion yuan in investment costs, encouraging long-term holdings [3]. - The external market has shown positive trends, with the Hang Seng Tech Index rising by 4% and the Nasdaq Golden Dragon Index increasing by nearly 4% before the holiday, boosting confidence in A-shares [3]. - Northbound capital is projected to have a net inflow of 80 to 100 billion yuan in January and February, focusing on core assets in consumption, pharmaceuticals, and technology [3]. Group 2: Major Funds' Adjustments - Northbound funds have aggressively increased their positions in leading stocks in electronics, semiconductors, and energy sectors, aligning with institutional target price adjustments [4]. - The social security fund has shifted its focus from banks and insurance to technology and pet economy sectors, investing in companies with technological barriers [4]. - Public funds have increased their allocations in electronics, banks, and non-white liquor consumption while reducing exposure to high-volatility stocks, with notable adjustments in consumption and technology sectors [4]. Group 3: Emerging Investment Themes - New investment themes are emerging, characterized by a multi-faceted approach rather than a single focus, with sectors like AI, humanoid robots, commercial aerospace, and energy storage gaining traction [5]. - The consumption recovery is shifting towards non-white liquor sectors such as beer, white goods, and the pet economy, which are expected to benefit from the festive consumption peak [5]. - Financial and undervalued blue-chip stocks, particularly brokerage firms and banks, are becoming increasingly attractive due to favorable policies and liquidity conditions [6].