沪指13连阳创历史，业内人士：在向更均衡的全面牛市演进

Core Viewpoint - The A-share market has achieved significant milestones, with the Shanghai Composite Index closing at 4083.67 points, marking a ten-year high and a record 13 consecutive days of gains, indicating strong investor confidence and a potential shift towards a balanced bull market in 2026 [1][3][7]. Market Performance - On January 6, all three major A-share indices rose, with the Shanghai Composite Index up 1.50%, surpassing last year's high and achieving a new ten-year peak [3]. - The market saw a trading volume of 2.83 trillion yuan, reflecting heightened investor enthusiasm [1]. - The brain-computer interface sector experienced a surge, with nearly 20 stocks hitting the daily limit, while the commercial aerospace sector also saw significant gains [3]. Sector Analysis - Key sectors leading the market included non-ferrous metals, non-bank financials, basic chemicals, and defense industries, driven by expectations of global supply chain restructuring and strong performance in the insurance and brokerage sectors [4][6]. - The Wenke Brain-Computer Interface Index rose by 12.97%, and the Commercial Aerospace Index increased by 9.49% in the first two trading days of 2026 [3]. Fund Flow and Investment Strategies - There is a strong expectation for capital inflow into the market, particularly from insurance companies, which saw a significant increase in new premium funds available for market allocation [5][6]. - As of September 2025, insurance funds allocated to stocks and funds reached 5.59 trillion yuan, an increase of 1.49 trillion yuan since the beginning of the year [6]. - The financing balance reached a historical high of 2.54 trillion yuan on January 5, 2026, indicating robust market liquidity [6]. Future Market Outlook - Analysts predict a transition from valuation-driven growth in 2025 to profit-driven growth in 2026, with a more balanced market style emerging [7]. - The market is expected to maintain an upward trend, supported by macroeconomic recovery, with key sectors such as technology, consumer goods, and new energy likely to see rotation and valuation recovery [7][9]. Investment Recommendations - Investment firms suggest a balanced allocation strategy, focusing on growth sectors like AI, while also considering defensive assets such as non-ferrous metals and chemicals [11][12]. - Emphasis is placed on long-term investment in sectors with strong fundamentals, avoiding short-term speculative trading [11][12].