资管一线 | 资本市场“水涨船高” 投资聚焦科技主线——首席经济学家共话2026资产配置

Group 1 - The core viewpoint of the articles emphasizes that the capital market in 2026 will present both opportunities and challenges, with a focus on deepening reforms and asset allocation strategies [1][2] - The goal of capital market reform is to cultivate a "slow bull" market, enhancing market vitality by attracting patient capital and long-term funds [2][3] - Experts suggest that the stock market is gradually forming a "slow bull" pattern, with key support levels for the Shanghai Composite Index expected to rise from 3800-3900 points to 4000 points [2] Group 2 - Recommendations for institutional investors include strengthening internal mechanisms, expanding investment ranges, and improving delisting mechanisms to enhance market efficiency [3][4] - The commodity market is expected to show a clear rotation pattern, with significant opportunities for investment in various sectors, including precious metals and industrial metals [6][7] - The bond market is anticipated to perform better than expected in a loose monetary environment, serving as a potential switch option after stock and commodity price increases [7][8] Group 3 - Investment strategies for 2026 should focus on technology as a core theme, with an emphasis on balancing offensive and defensive positions while being cautious of potential risks [8][9] - Experts recommend diversifying investments into advanced manufacturing, reasonably valued cyclical leaders, and high-dividend assets to enhance overall portfolio resilience [9][10] - The importance of timing and market rhythm is highlighted, suggesting that investors should avoid a passive buy-and-hold strategy and instead actively manage their portfolios [9]