A股跨年行情蓄势待发

Core Viewpoint - The A-share market is experiencing a recovery in sentiment following a significant meeting, with expectations for a potential year-end rally driven by structural market dynamics and capital market reforms [1][8]. Market Performance - A-share daily average trading volume increased to 19,530.44 billion yuan from the previous week, marking a rise of 2,568.66 billion yuan [4]. - The ChiNext Index and Shenzhen Component Index rose by 2.74% and 0.84%, respectively, while the Shanghai Composite Index fell by 0.34% during the same period [4]. - Key sectors such as aerospace equipment, communication devices, and electronic chemicals saw significant gains, with increases of 7.89%, 7.81%, and 6.99% respectively [4]. Fund Flows - Institutional and retail investors showed synchronized net inflows into the consumer sector, while there were divergent trends in other sectors [5][6]. - The financing balance increased to 2.48 trillion yuan, reflecting a rise of 196.21 billion yuan, indicating a relatively positive stance on leverage [5]. - Notably, the A500 ETFs attracted significant inflows, with top funds like Huatai-PB and Southern Fund seeing net inflows of 40.33 billion yuan and 37.64 billion yuan respectively [6]. Future Outlook - Analysts predict a potential year-end rally for A-shares, supported by improving liquidity and institutional fund flows [8][9]. - Key sectors expected to perform well in 2026 include AI, advantageous manufacturing, "anti-involution," and structural recovery in domestic demand, with projected net profit growth exceeding 30% [10]. - The macroeconomic environment is anticipated to remain supportive, with a combination of fiscal and monetary policies aimed at enhancing market liquidity [9][10].