Group 1 - The A-share market has shown strong performance since the beginning of 2026, with sectors like commercial aerospace and AI software standing out, while traditional sectors like banks and brokerages are cooling down [1] - The current spring rally in the A-share market is primarily driven by liquidity rather than fundamental economic growth, which differs from previous market phases [1][2] - The equity risk premium (ERP) for A-shares has surpassed one standard deviation and is approaching two standard deviations, indicating heightened market risk appetite [1] Group 2 - The risk appetite for A-share heavyweight stocks has increased only slightly, with the CSI 500 index showing the most rapid rise in risk appetite, nearing two standard deviations [2] - The AI sector is viewed as a revolutionary investment opportunity, but it is subject to emotional fluctuations, making it challenging to identify precise investment opportunities [2] - Domestic AI applications are expected to benefit from a large market, high user acceptance, and diverse scenarios, indicating a potential turning point for AI commercialization [3]
朱雀基金：积极关注科技产业布局机会 需警惕短期过热
Zhong Zheng Wang·2026-01-16 01:51