瑞银证券：对今年全年A股市场乐观 现在市场情绪并没有出现过热

Group 1 - UBS Securities' analyst Meng Lei expresses optimism for the A-share market in 2023, indicating that market sentiment is above moderate levels without signs of overheating [1] - A-share earnings growth is expected to accelerate to around 8% by 2026, with a balanced outlook between growth and cyclical styles compared to last year [1] - The first quarter may experience a seasonal boost due to the Chinese New Year, with global stock markets rising since the beginning of the year, reflecting an increase in valuations driven by global liquidity [1] Group 2 - UBS China Equity Strategy Head Wang Zonghao remains positive about the Chinese stock market, emphasizing that sustained performance in the innovation sector can uplift the overall market [1] - AI is identified as a major theme, with most institutional investors believing it represents the future, and both China and the US are seen as leading countries in this area [1] - There is a favorable outlook for domestic hardware companies, particularly in semiconductors, as well as beneficiaries in the internet sector, with preferences for brokerage firms, photovoltaic, and overseas expansion sectors [1]