Zhongtai Securities(SH:600918) 智通财经网·2026-01-12 23:41Group 1 - The current market spring rally characteristics are gradually emerging, with leveraged funds becoming active again since mid-December, and the proportion of financing purchases in the A-share market is rising [1][5] - The trading volume of small-cap growth stocks has been increasing since late December, indicating a shift in funds towards this sector [1][5] - The previously net outflowing thematic/industry index ETFs have turned positive this week, showing a significant net inflow trend [1][6] Group 2 - The current market rally is supported by long-term funds, with significant inflows into the A500 ETF nearing 100 billion RMB, boosting market confidence [2] - The "spring rally" is characterized by seasonal trends, typically occurring from late December to the first quarter, with an average increase of about 15% during this period [3] Group 3 - Investment recommendations prioritize small-cap growth and innovation-driven sectors, suggesting a focus on small-cap innovation stocks [7] - The strategy emphasizes short-term trend tracking, participating in thematic sectors with recent fund accumulation, such as pharmaceuticals, robotics, and gaming [7] - The securities and financial technology sectors are expected to benefit from increased trading volumes and active leveraged funds, with financial technology companies being more sensitive to market fluctuations [7]