策略周专题（2026年3月第3期）：震荡蓄势，等待破局

Group 1 - The A-share market experienced fluctuations this week, with a decline in major indices due to decreased market risk appetite. The ChiNext index performed the best with a change of +1.3%, while the CSI 500 index had the worst performance with a change of -5.8%. The overall valuation of the entire A-share market is at the 91.2 percentile since 2010 [1][11][12] - In terms of industry performance, sectors such as oil and petrochemicals, coal, and utilities showed relatively good performance, while sectors like non-ferrous metals, basic chemicals, and steel lagged behind with significant declines [1][13][15] Group 2 - Key events this week included the convening of an anti-monopoly work meeting, a central bank expanded meeting, and Sino-US trade discussions in Paris. The focus of the meetings included accelerating the development of new productive forces and maintaining the stability of financial markets [2][18][19][20] - Economic data released showed that the industrial value added for January-February increased by 6.3% year-on-year, and retail sales grew by 2.8%, indicating a positive start to the year. Additionally, the total import and export value increased by 18.3% year-on-year [2][21] Group 3 - The report suggests that the market may continue to experience fluctuations due to external pressures, including geopolitical tensions in the Middle East and a hawkish stance from the Federal Reserve. However, there are positive factors such as the central bank's supportive statements and strong economic data for January-February [4][25] - The report recommends focusing on growth and cyclical sectors in the medium to long term, with short-term attention on resource-related assets and safe-haven investments due to ongoing geopolitical risks [34][35]