国君策略|2月金股策略:棋眼在科技成长

Group 1: Market Outlook - The spring market performance is expected to focus on technology growth, driven by government initiatives to attract long-term capital into the market[2] - The anticipated recovery of liquidity post-Spring Festival and investor expectations for policy outcomes from the Two Sessions are likely to boost market performance during this period[2] - The impact of the new round of US tariffs on China is manageable, with market expectations already factored in, suggesting limited short-term effects on the stock market[3] Group 2: Sector Recommendations - Strong recommendations for sectors benefiting from AI advancements, particularly in media (gaming, publishing, film, digital media) and computing (software development, IT services)[4] - The technology manufacturing sector is showing signs of recovery, with recommendations for automotive (motorcycles), batteries, machinery (robots, engineering machinery), and military industries[4] - Long-term capital market entry plans are expected to benefit dividend-paying assets, with a focus on banks, operators, and railways, particularly in the Hong Kong market where dividend yields are more attractive[4] Group 3: Risks and Challenges - Potential risks include an unexpected global economic downturn and uncertainties in geopolitical situations[5] - The lack of buffer from re-export trade and currency depreciation may pressure domestic export demand, necessitating stronger domestic demand policies[3]