A股投资策略周报告：市场中长期配置机会逐步显现

Group 1 - The manufacturing PMI for December is at 50.1%, indicating continued expansion, supported by existing and new policies [4][14][22] - The new orders index rose to 51%, marking four consecutive months of increase, while the new export orders index increased to 48.3% [4][14] - The report highlights a clear expectation of increased policy strength in 2025, with various government departments signaling support for economic recovery and market stability [17][18][20] Group 2 - The report identifies three key sectors for investment: consumption, technology innovation, and export-oriented industries, particularly in light of potential tariffs from the U.S. [30][26] - Specific focus areas include food and beverage, home appliances, automotive, semiconductors, and medical equipment [30][26] - The report emphasizes the importance of policies aimed at boosting domestic demand and enhancing investment efficiency [30][26] Group 3 - Recent market adjustments have led to a decrease in risk appetite, with a notable shift towards dividend and heavyweight sectors, while the bond market has outperformed the stock market [22][30] - Despite short-term disturbances, the report suggests that long-term investment opportunities are emerging as the manufacturing sector remains in an expansion phase [22][30] - The report indicates that the risk premium has entered a range conducive for investment, suggesting a potential recovery in market sentiment [22][30]