2026核心赛道前瞻：科技+周期双轮驱动，这些行业值得重点关注

Group 1 - The market liquidity is relatively abundant at the beginning of 2026, with A-shares daily trading volume maintaining above 2 trillion yuan, and technology and cyclical stocks showing a rotating upward trend [1] - The technology sector and related cyclical fields, such as upstream non-ferrous metals, are expected to present investment opportunities in 2026, particularly in the semiconductor chip industry where leading companies' capital expenditures have exceeded expectations [1] - The communication sector remains a core area deeply tied to overseas computing power demand, with capital expenditures from overseas cloud companies expected to continue rising in 2026 [1] Group 2 - The AI industry is anticipated to drive growth in related supply chains, with potential shortages and price increases in certain sectors, such as space photovoltaics in the electricity supply side [2] - According to the "14th Five-Year Plan," domestic grid investment is set to accelerate, with fixed asset investment by the State Grid expected to grow by 40% compared to the previous five-year period [2] - The cyclical sector, particularly non-ferrous metals, is gaining market attention, with financial attributes expected to receive strong support during a rate-cutting cycle [2]