策略周报（20260112-20260116）-20260119

Market Liquidity Overview - R007 decreased from 1.5157% to 1.5137%, a reduction of 0.20 basis points; DR007 fell from 1.4727% to 1.4430%, down by 2.97 basis points. The spread between R007 and DR007 increased by 2.77 basis points [9] - The net outflow of funds this week was 82.499 billion yuan, with a decrease in net inflow of 11.712 billion yuan compared to last week. Fund supply was 78.941 billion yuan, while demand was 161.440 billion yuan. Specifically, fund supply decreased by 18.763 billion yuan, with net financing purchases increasing by 18.719 billion yuan and stock dividends rising by 42.153 billion yuan. The net redemption of stock ETFs decreased by 91.826 billion yuan [13] Industry Sector Liquidity Tracking - Most sectors in the CITIC first-level industry index declined, with a weak overall market style and a continuation of sector differentiation. The number of declining sectors exceeded those that rose, with the computer sector showing the most significant increase at 4.31%, while the defense and agriculture sectors led the declines at 5.66% and 3.49%, respectively [19] - The electronic industry received the most net leveraged capital inflow, totaling 20.163 billion yuan, while the building materials sector experienced a net outflow of 0.205 billion yuan, marking the most significant reduction [20] Style Sector Liquidity Tracking - Growth style had the largest increase at 1.78%, while financial style saw the largest decline at 2.73%. Growth style accounted for 60.86% of the average daily trading volume, making it the most active sector [3]