SWHY(SZ:000166) 申万宏源证券上海北京西路营业部·2026-03-11 02:11Market Overview - The market experienced geopolitical shocks this week, leading to a temporary pessimistic sentiment, which began to recover after Wednesday. However, market volatility remained within a controllable range, with the implied volatility of the CSI 300 options slightly above the average of the past three years on Tuesday and Wednesday [1][4]. - The impact of geopolitical events on the A-share market was limited, and the ongoing Two Sessions provided a stabilizing effect while highlighting various focal points for the market [1][4]. - Geopolitical shocks are expected to have a sustained impact on A-shares and global risk assets, necessitating a cautious approach. Investment opportunities are more likely to be found in structural aspects of the market [1][4]. Investment Strategy - A barbell strategy is recommended, which involves allocating assets with dividends or free cash flow to balance portfolio volatility while also investing in sectors with improving fundamentals or policy support [1][4]. Industry Performance - In terms of industry performance, the top-performing sectors included oil and petrochemicals (+8.06%), coal (+3.79%), and public utilities (+3.42%) [15].