A股将更加友好！基金经理筛选2026“机遇清单”

Core Viewpoint - The investment landscape for 2026 is characterized by a shift from "risk appetite recovery" to "profit verification," indicating both structural opportunities and investment challenges as the economy transitions and policies are expected to strengthen [1]. Group 1: Macro Economic Outlook - The global and domestic liquidity environment is expected to improve, providing a solid foundation for the market, with external constraints on A-shares significantly reduced due to anticipated interest rate cuts by the Federal Reserve [5][6]. - Domestic monetary policy will continue to support high-quality economic development and industrial upgrades, maintaining reasonable liquidity [5]. Group 2: Industry Trends - The AI sector is projected to accelerate its impact on industries, transitioning from rapid penetration in 2025 to deeper performance realization in 2026, enhancing corporate productivity and business model transformations [5][6]. - The market is expected to exhibit significant structural characteristics, with a focus on a few technology leaders capable of delivering real and sustainable performance [6]. Group 3: Investment Strategies - Investors are advised to focus on identifying high-quality leading companies with solid industry positions, strong growth sustainability, and reasonable valuations to capitalize on structural market opportunities [6]. - The domestic consumption sector is highlighted as a high-potential area, with a shift in fiscal spending towards improving people's livelihoods, which may stimulate consumption [7][9]. Group 4: Sector-Specific Insights - The Hong Kong market is anticipated to experience a combination of valuation contraction and profit growth, with technology and healthcare sectors expected to lead the market [10][11]. - The technology sector in Hong Kong is seen as having clear fundamental drivers, with significant opportunities arising from domestic AI core assets and increased capital expenditure from major internet companies [13]. Group 5: Overall Market Sentiment - The overall sentiment for the equity market in 2026 is optimistic, with opportunities expected to outweigh risks, particularly in the AI and technology sectors, despite some signs of overheating in certain areas [9][18]. - The market is expected to transition from extreme conditions to a more balanced state, with a focus on dividend assets, technology, and domestic demand sectors [14][17][25].