策略周专题（2026年2月第1期）：坚守布局，持股过节

Group 1 - The A-share market experienced fluctuations and adjustments, with major indices generally declining, particularly the ChiNext and CSI 500, while the Shanghai 50 and SME 100 saw smaller declines. The current valuation of the Sci-Tech 50 and Wind All A indices is relatively high, with their PE(TTM) percentile above 90% since 2010 as of February 6, 2026 [1][11][14] - The report highlights a positive outlook for the upcoming spring market, suggesting that favorable policies and fundamental factors may emerge in the coming months. However, a short-term correction is anticipated before the Spring Festival due to tightening liquidity and reduced trading enthusiasm among investors [3][25] - The report emphasizes the importance of maintaining positions during the holiday period, as historical data indicates that the market tends to perform well in the 20 trading days following the Spring Festival [3][31] Group 2 - Key industries to focus on include electronics, power equipment, machinery, non-ferrous metals, communications, and computers, which are expected to show growth and independent prosperity in February. The report suggests that investors should pay attention to these sectors [4][34][35] - The report identifies short-term investment opportunities in the "price increase" theme, particularly in chemical raw materials and petroleum and petrochemical sectors, while recommending a mid-term strategy to accumulate positions in the metals sector after it stabilizes [4][35] - The report notes that the second-hand housing market in several key cities showed signs of recovery in January, with significant year-on-year increases in transaction volumes, indicating a potential rebound in the real estate sector [21][22]