华泰研究 | 本周精选：商业不动产REITs、春季行情、委内瑞拉、2026CES、2026十大投资、元旦消费

Group 1 - The article discusses the positive impact of overseas Chinese stocks on investor sentiment, despite potential geopolitical issues that may increase market volatility in the short term. It suggests that the spring market trend is likely to continue upward due to improved PMI data, ample market liquidity, and positive policy signals [1] - The report anticipates that investor sentiment, strong capital supply, and supportive economic data are known variables, while the performance of AI-related sectors, potential interest rate cuts, and future geopolitical developments are variables yet to be confirmed, which will gradually be revealed by late January [1] Group 2 - The focus is on the macroeconomic implications of changes in Venezuela's oil and energy industry, which holds 17.5% of the world's oil reserves, the highest globally. The escalation of U.S.-Venezuela conflicts may lead to increased volatility in global commodity prices and affect energy supply and economic activities in South American countries [3] - In the medium to long term, if U.S. sanctions on Venezuela are conditionally eased, changes in the supply and trade patterns of energy and minerals could have profound effects on global energy and commodity supply and distribution [3] Group 3 - The 2026 CES (Consumer Electronics Show) is highlighted as a significant event for investment opportunities in technology and consumer sectors, with major companies like Nvidia participating. The reports from various analysts provide insights into new product launches and trends emerging from the event [6] - Key themes for investment in 2026 include global order reconstruction, fiscal expansion, the transition of old and new economic drivers, and the deepening of the AI revolution, which are expected to influence market dynamics significantly [7][8] Group 4 - The analysis of consumer behavior during the New Year holiday indicates a substantial increase in travel and spending compared to previous years, with recovery levels surpassing those seen during the last National Day holiday [9]