天天基金网·2026-01-05 05:24Core Viewpoint - The A-share market experienced a strong start in 2026, with the Shanghai Composite Index surpassing 4000 points and a notable increase in various sectors, particularly insurance, pharmaceuticals, and technology [2][6]. Group 1: Insurance Sector - The insurance sector saw significant gains, with major companies like New China Life and China Pacific Insurance reaching historical highs [4]. - Since Q3 2025, the insurance sector has been a stabilizing force in the market, benefiting from favorable policies such as the guidance on health insurance development and adjustments to risk factors for insurance companies [6]. - Looking ahead to 2026, the insurance sector is expected to maintain a competitive edge due to attractive returns on dividend insurance products and improvements in distribution channels, which may lead to positive growth in new business value (NBV) [7]. Group 2: Pharmaceutical Sector - The pharmaceutical sector experienced a broad rally, with significant increases in stocks of leading companies such as BeiGene and WuXi AppTec [9]. - In 2025, the number of approved innovative drugs reached 76, a 58.3% increase from 48 in 2024, marking a historical high [11]. - The outlook for 2026 is optimistic, with expectations that the innovative drug sector will dominate the pharmaceutical industry, supported by the integration of medical insurance and commercial insurance, which will enhance payment capabilities [13][14].