Xin Lang Cai Jing·2026-01-25 04:53Market Outlook - The market is expected to remain volatile before the Spring Festival, with a decline in trading enthusiasm among investors and a tightening of micro liquidity [1] - Historically, the probability of major indices rising in the 20 trading days before the Spring Festival is less than 50% [1] - After the Spring Festival, a new upward momentum is anticipated, with a higher probability of major indices rising in the 20 trading days following the festival [1] Investment Strategy - Investors are advised to adopt a cautious approach in the near term but should still hold stocks during the festival [1] Sector Focus - Key sectors to watch include electronics, electrical equipment, and non-ferrous metals [1] - If the market style in January is growth-oriented, the top-scoring sectors in the five-dimensional industry comparison framework are electronics, electrical equipment, telecommunications, non-ferrous metals, automotive, and defense [1] - If the market style in January is defensive, the top-scoring sectors are non-bank financials, electronics, non-ferrous metals, electrical equipment, automotive, and transportation [1] - There is a notable similarity in the top-scoring sectors under both growth and defensive market styles [1] Thematic Investment - Continued attention is recommended for the commercial aerospace sector [1]