Core Viewpoint - The A-share market has entered a phase of oscillation and adjustment after reaching a historical high in trading volume, with intensified sector rotation and capital competition. Institutions are optimistic about the continuation of the "transformation-driven market" in 2026, driven by economic transformation and industrial upgrades [1][2]. Group 1: Market Dynamics - Since January 2026, the total trading volume in the A-share market has repeatedly set new highs, indicating signs of overheating in certain areas. Institutions believe that regulatory improvements will lead to healthier long-term market development [1]. - The market is currently experiencing a shift in industry leadership, with previous hot sectors cooling down and capital moving towards areas with fundamental support [1][2]. Group 2: Policy and Economic Environment - The current market is characterized by a cycle of policy easing, industrial upgrades, and capital resonance, similar to the early stages of a "transformation-driven market." Key supportive factors include targeted interest rate cuts by the central bank and ongoing capital market reforms [2]. - The improvement in supply-demand dynamics in sectors such as AI computing power, new energy, and non-ferrous metals is forming a clear prosperity line [2]. Group 3: Investment Strategy - Institutions recommend a balanced investment strategy focusing on "performance certainty + high prosperity tracks," with an emphasis on sectors like non-bank financials, cyclical industries, and high-growth technology areas [3]. - Short-term focus should be on sectors with positive earnings forecasts and valuation recovery opportunities, while mid-term strategies should target high-prosperity industries such as AI, semiconductors, and new energy [3].
1月20日每日研选 | A股行情换挡 后市如何布局？
Sou Hu Cai Jing·2026-01-20 00:06