2026.02.24-2026.02.27日策略周报：两会临近，A股实现开门红-20260301

Core Insights - A-shares achieved a positive start post-Spring Festival, with major indices showing upward trends, including a 1.98% increase in the Shanghai Composite Index and a 2.80% rise in the Shenzhen Component Index [2][8] - The overall upward trend in A-share indices is attributed to a moderate increase in domestic consumption data during the Spring Festival and heightened market attention towards the "14th Five-Year Plan" as the Two Sessions approach, leading to a resurgence in technology and "anti-involution" sectors [10][11] Industry Performance - Among the 31 first-level industries, steel and non-ferrous metals led the gains with increases of 12.27% and 9.77% respectively, while media and retail sectors saw declines of 5.10% and 1.64% [3][17] - In the 124 second-level industries, small metals and steel raw materials had the highest weekly gains of 17.72% and 13.27%, with cumulative gains since the beginning of 2026 at 52.18% and 42.76% respectively [19][20] - The top-performing third-level industries included laser equipment and phosphate fertilizers, with weekly gains of 20.49% and 19.25%, and cumulative gains of 59.73% and 53.40% respectively since the start of 2026 [21][22] Investment Recommendations - The year 2026 marks the beginning of the "14th Five-Year Plan," with expectations for stable economic operation supported by proactive fiscal policies and moderately loose monetary policies, which are anticipated to sustain a "slow bull" market for A-shares [5][23] - Attention is recommended for sectors benefiting from the implementation of the "14th Five-Year Plan," particularly in new productivity areas such as technology and environmental protection, as well as structural opportunities in traditional sectors related to "anti-involution" [5][23]