A股行情换挡 后市如何布局？丨每日研选

Core Viewpoint - The A-share market has entered a phase of adjustment after reaching a historical high in trading volume, with increased 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 [5][6]. Market Overview - Since January 2026, the total trading volume in the A-share market has repeatedly set new records, indicating signs of overheating in certain areas. Institutions believe that regulatory measures will guide the market towards healthier long-term development [5]. - The market is expected to experience a period of consolidation as annual report forecasts are released in late January, with regulatory adjustments aimed at promoting rational market behavior [5][6]. Investment Strategy - Institutions recommend a balanced investment strategy focusing on "performance certainty + high prosperity sectors," emphasizing three main directions: - Short-term focus on sectors with positive performance forecasts and valuation recovery opportunities, particularly in non-bank financials and cyclical sectors [7]. - Mid-term focus on high-prosperity industries, including AI technology, new energy, and metals, which are expected to benefit from global technological advancements and domestic demand [7]. - Thematic investments that leverage policy and event catalysts, such as the AI collaboration for the Spring Festival and domestic consumption recovery [7]. Supporting Factors - The current market is characterized by policy easing, industrial upgrades, and capital resonance, similar to historical "transformation-driven market" phases. Key supporting factors include: - Accelerated economic transformation and industrial upgrades, driven by AI and energy transitions [6]. - Continuous improvement in the capital market ecosystem, with significant inflows from long-term funds [6]. - Global supply chain restructuring and increased attractiveness of RMB assets, providing dual driving forces for cyclical sectors and technology fields [6].