策略周专题（2026年1月第1期）：热度短期有望延续

Group 1 - The A-share market has continued to rise, driven by an increase in market risk appetite, with the ChiNext 50 index showing the best performance at a growth rate of 9.8%, while the CSI 300 index had the lowest growth rate of 2.8% [1][10][14] - The overall valuation of the Wind All A index is at the 94.6 percentile since 2010, indicating a relatively high valuation level [1][10][12] - In terms of industry performance, the comprehensive, defense, and media sectors performed relatively well, with growth rates of 14.5%, 13.6%, and 13.1% respectively, while banking, transportation, and oil and petrochemicals lagged behind with growth rates of -1.9%, 0.2%, and 0.3% [1][10][14] Group 2 - The report highlights the importance of the "Artificial Intelligence + Manufacturing" initiative, which aims to enhance the application of AI in manufacturing by 2027, promoting the development of key technologies and industry standards [2][18][19] - The Consumer Electronics Show (CES) 2026 showcased advancements in AI, digital health, and energy technology, indicating a strong focus on innovation in the technology sector [2][20] - The report notes that the market is expected to see a rotation between growth and defensive styles in January, with sectors such as electronics, power equipment, and non-ferrous metals being highlighted for growth potential [3][34][33] Group 3 - The report emphasizes the ongoing interest in the commercial aerospace sector, which has seen significant price increases and remains supported by favorable policies and active capital [3][34] - The analysis suggests that if the market style leans towards growth, the top-performing sectors will include electronics, power equipment, and defense, while defensive styles will favor non-bank financials and transportation [3][34] - The report indicates that the A-share market typically performs well in the 20 trading days following the Spring Festival, suggesting a potential for positive market sentiment in the near term [3][31][33]