渤海证券研究所晨会纪要（2026.01.13）-20260113

Group 1: Fund Research - The equity market saw all major indices rise, with the highest increase being 9.80% for the Sci-Tech 50 index during the week of January 5 to January 9, 2026 [2] - The average return for equity funds was 4.66%, with a positive return ratio of 98.63%, while fixed income plus funds averaged a 0.90% increase with a positive return ratio of 93.57% [3] - The ETF market experienced a net outflow of 57.215 billion yuan, with bond ETFs seeing the largest outflow of 66.431 billion yuan [3] Group 2: Industry Research - The U.S. Supreme Court has not yet announced a ruling on the Trump tariff case, which is being closely monitored, while the U.S. has postponed the tariff increase on certain imported furniture products [5] - The light industry manufacturing sector outperformed the CSI 300 index by 0.19 percentage points, while the textile and apparel sector underperformed by 0.13 percentage points during the same period [6] - China's emotional consumption market is projected to grow from 1.63 trillion yuan in 2022 to over 4.5 trillion yuan by 2029, indicating strong growth potential in sectors like trendy toys, pet consumption, and domestic fashion [7]