策略周报：节前交易或趋于平稳

Group 1 - The report indicates that the five major indices tracked last week all experienced gains, reflecting strong buying power at low levels, and the market remains in a broad oscillation pattern [2][10][20] - It is noted that as the year-end approaches and with the long holiday for the Spring Festival, increased uncertainty may lead to a generally stable trading performance before the holiday [2][20] - The average price-to-earnings ratio of the market is reported at 12.44, with a total of 5,399 stocks listed [5][21] Group 2 - Last week, the performance of major indices was as follows: CSI 300 increased by 2.14%, Shanghai Composite Index by 2.31%, Shenzhen Component Index by 3.73%, ChiNext Index by 4.66%, and CSI 500 by 4.06% [10][11] - All 31 first-level industry indices tracked by Shenwan experienced gains, with the top five performing industries being social services, media, computer, communication, and machinery equipment [11][12] - The total trading volume was 5,185.25 billion shares, with a trading value of 60,041.56 billion yuan, and 4,924 stocks rose while 444 fell [12][13] Group 3 - As of last weekend, 11 stocks reached historical highs while 5 reached historical lows, with 237, 115, and 71 stocks hitting new highs over the past 30, 60, and 120 days respectively [14][15] - The margin trading data shows a weekly increase in financing balance of approximately 6.9 billion yuan and a decrease in the margin balance of about 0.1 billion yuan [14][15]