春节“日历效应”如何发挥？机构：港股先涨 A股可期

Group 1 - The A-share market is expected to see increased trading activity post-Spring Festival, supported by a favorable macro environment and liquidity conditions [1][3] - The M2 money supply grew by 9.0% year-on-year, and the social financing stock increased by 8.2% in January, indicating robust financial conditions [3] - Historical data shows a 75% probability of the Shanghai Composite Index rising in the first five trading days after the Spring Festival, with an average increase of 1.2% [1][2] Group 2 - The FTSE A50 index rose by 1.48% during the A-share market closure, reflecting positive sentiment from overseas investors towards Chinese core assets [2] - The Hang Seng Technology Index showed resilience, with sectors like robotics, semiconductors, and AI applications performing well, providing a positive outlook for the A-share technology sector [2][4] - The technology sector is expected to be the main focus post-Spring Festival, driven by policy support and industry trends, with historical performance favoring technology growth stocks [4][5] Group 3 - The recent performance of the robotics sector, particularly following a notable Spring Festival gala, has sparked investor interest and is anticipated to boost related A-share stocks [5] - Institutions are optimistic about the continuation of the technology growth narrative, supported by ample liquidity, accelerating commercialization, and clear policy direction [5] - Local government meetings have emphasized "domestic demand" and "industry" as key policy focuses, with significant attention on technology innovation and consumption stimulation [5]