开年首月A股盘点：个股平均上涨7.8%，科创、中盘成关键点，红利资产跑输市场

Market Overview - The A-share market closed with an overall increase in January 2026, with major indices recording gains, particularly the Sci-Tech Innovation 50 Index leading the market [1] - Excluding new stocks, the average increase for individual stocks was nearly 7.8%, with a median increase of approximately 4.9% [1] Index Performance - There was a notable divergence in performance between large-cap and small-cap stocks, with small-cap indices like the Guozheng 2000 and CSI 2000 rising by 9.13% and 8.16% respectively, while large-cap indices such as the SSE 50 and CSI 300 had gains of less than 2% [3] - Among the 12 stocks with a market capitalization exceeding 1 trillion yuan, three-quarters experienced declines, with a median drop of 4.6% [3] Individual Stock Performance - Major banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank saw declines of 8.58%, 12.50%, and 6.03% respectively [4] - Conversely, China Life Insurance recorded a gain of 9.27%, while Kweichow Moutai increased by 1.73% [4] Market Capitalization Analysis - In the small-cap segment, 78.7% of stocks with a market capitalization below 5 billion yuan increased, with an average gain of 7.8% and a median gain of nearly 5.8% [5] - Mid-cap stocks, particularly those with market capitalizations between 50 billion and 100 billion yuan, performed actively with an average increase of nearly 9% [5] ETF Trends - The performance of dividend-related ETFs showed divergence, with the low-volatility dividend ETF from Huatai-PB increasing by 8.00%, while the dividend ETF from Wanji recorded a decrease of 14.88% [7] Historical Trends - Historically, the Shanghai Composite Index has shown an 80% increase rate in February over the past decade, with an average gain of 2.1% [8] - In the past ten years, 30 out of 31 sectors in the Shenwan first-level classification recorded gains in February, with the banking sector slightly declining by about 0.3% [10]