Guo Ji Jin Rong Bao·2026-02-14 01:12Market Overview - The last trading day before the Spring Festival on February 13 saw a significant decline in trading volume, dropping below 2 trillion yuan, with 3,829 stocks closing lower [1][4] - The Shanghai Composite Index fell by 1.26% to 4,082.07 points, while the ChiNext Index decreased by 1.57% to 3,275.96 points [4] Sector Performance - Resource and technology stocks led the decline, with significant drops in sectors such as non-ferrous metals, building materials, and oil and petrochemicals, all falling over 3% [8] - Natural gas, gold concepts, and rare earth permanent magnets were among the hardest-hit resource stocks [5][8] Trading Dynamics - The market exhibited typical defensive adjustment characteristics, with increased caution among investors as they prepared for the holiday [3][12] - The trading volume decreased significantly, with only three stocks exceeding 100 million yuan in daily trading volume [5][11] Investment Sentiment - Analysts noted that the market is currently in a phase of stock selection and defensive positioning, with a focus on technology growth and policy-supported sectors [11][14] - There is an expectation for increased market activity post-holiday, contingent on external market conditions remaining stable [3][13] Future Outlook - Historical data suggests that the A-share market tends to perform better after the Spring Festival, with potential for upward movement if trading volume rebounds [13][14] - Key sectors to watch include technology, AI, and high-end manufacturing, which are expected to benefit from ongoing trends and policy support [14][15]