【广发金工】AI识图关注卫星、有色、生物科技

Market Performance - The Sci-Tech 50 Index increased by 2.58% over the last five trading days, while the ChiNext Index rose by 1.00%. In contrast, the large-cap value index fell by 2.81%, and the large-cap growth index decreased by 0.03%. The Shanghai Stock Exchange 50 Index dropped by 1.74%, whereas the small-cap index represented by the CSI 2000 gained 1.31%. The computer and electronics sectors performed well, while the defense, military, and real estate sectors lagged behind [1]. Risk Premium and Valuation Levels - As of January 16, 2026, the risk premium, measured as the inverse of the static PE of the CSI All Share Index minus the yield of ten-year government bonds, stands at 2.51%. The two standard deviation boundary is 4.68%. The valuation levels indicate that the CSI All Share Index's PETTM is at the 83rd percentile, with the Shanghai 50 and CSI 300 at 74% and 75%, respectively. The ChiNext Index is close to 63%, while the CSI 500 and CSI 1000 are at 69% and 67%, respectively. The ChiNext Index's valuation is relatively at the historical median level [1]. Fund Flow and Trading Volume - In the last five trading days, ETF funds experienced an outflow of 132.3 billion yuan, while the margin trading balance increased by approximately 97.3 billion yuan. The average daily trading volume across the two markets was 34.251 billion yuan [3]. Thematic Indexes - The latest thematic allocations include the Satellite Industry Index, Nonferrous Metals Index, Biotechnology Index, and Computer Index, among others. Specific indices mentioned are the CSI Satellite Industry Index, CSI Industrial Nonferrous Metals Theme Index, CSI Biotechnology Theme Index, CSI Big Data Industry Index, and CSI Computer Theme Index [2][4]. Market Sentiment and Risk Preference - The report includes observations on market sentiment based on the proportion of stocks above the 200-day moving average and tracks the risk preferences between equity and bond assets [13][14]. Financing Balance - The financing balance data is also included, indicating trends in margin trading activity [16]. Individual Stock Performance - Statistics on individual stock performance year-to-date based on return intervals are provided, highlighting the distribution of returns across different stocks [18]. Oversold Indices - The report notes instances of indices being oversold, which may indicate potential investment opportunities [20].