华西证券：把握做多窗口，牛市行情或将继续推进

Core Viewpoint - The report from Huaxi Securities indicates that the bull market may continue, with a favorable spring trading window for A-shares as market turnover surpasses 3 trillion yuan [1] Group 1: Market Conditions - A-shares have broken through the upward midpoint of fluctuations, suggesting a positive trend in the market [1] - The PMI and inflation data for December 2025 are better than expected, providing fundamental support for the spring market [1] Group 2: Capital Inflows - There is a significant recovery in the willingness of external funds to enter the market, with accelerated inflows of financing and foreign capital since the beginning of the year [1] - Anticipation of further inflows from insurance funds and resident funds is expected [1] Group 3: Catalysts for Growth - Events in the technology sector around the Chinese New Year are expected to maintain market risk appetite [1]