（原标题：时隔近4个月 A股成交额历史第6次突破3万亿） 1月9日，A股市场再度迎来强势行情：三大指数集体走高，上证指数收涨0.92%，时隔10年再度站上4100点整数关口，录得16连阳；创业板指涨 0.77%。AI应用题材爆发，影视、短剧游戏方向领跑。商业航天、人形机器人、小金属概念股涨幅居前。光伏、大金融板块走弱。 从历史成交数据来看，A股如此级别的量能释放并不常见。21快讯记者查询数据显示，截至目前，A股历史上仅出现6次单日成交额突破3万亿元的 情况，除今日外，其余5日分别是2024年10月8日（34835.43亿元）、2025年8月27日（31977.88亿元）、2025年8月25日（31769.48亿元）、2025年 9月18日（31666.43亿元）及2025年8月28日（30008.90亿元）。 对于当前A股的上涨与量能放大，经济学家盘和林在接受21快讯记者采访时表示，这一表现意味着A股已进入全面牛市阶段，背后是投资人热情的 持续攀升。"当前A股上涨和放量的核心驱动力，是人民币升值带来的全球资本回流——事实上全球股市都在屡创新高，A股如今的涨势仍处于合 理范围内。" 盘和林进一步分析称，在成交额 ...

记者丨李益文 刘雪莹 1月9日， A股市场再度迎来强势行情：三大指数集体走高， 上证指数收涨0.92%， 时隔10年再度站上4100点整数关口， 录得16连阳； 创业板 指涨0.77%。AI应用题材爆发，影视、短剧游戏方向领跑。商业航天、人形机器人、小金属概念股涨幅居前。光伏、大金融板块走弱。 | 2025-09-01 | 27,776.47 | | --- | --- | | 2024-11-08 | 27,322.99 | | 2025-08-26 | 27,098.31 | | 2025-10-09 | 26,718.18 | | 2025-08-19 | 26.406.80 | | 2024-11-06 | 26,240.54 | | 2024-09-30 | 26,114.91 | | 2025-10-14 | 25.965.85 | | 2024-11-12 | 25,870.30 | | 2025-09-04 | 25,818.93 | | 2025-08-22 | 25,788.42 | | 2026-01-05 | 25,672.40 | | 2024-11-07 | 25,631.08 | ...

1月9日，A股市场再度迎来强势行情：三大指数集体走高，上证指数收涨0.92%，时隔10年再度站上4100点整数关口，录得16连阳；创业板指涨0.77%。AI 应用题材爆发，影视、短剧游戏方向领跑。商业航天、人形机器人、小金属概念股涨幅居前。光伏、大金融板块走弱。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 科创综指 | | 4120.43 | 14120.15 | 1803.40 | | +37.45 +0.92% +160.67 +1.15% +36.83 +2.09% | | | | 万得全A | 创业板指 | 北证50 | | 6737.75 | 3327.81 | 1524.26 | | +78.53 +1.18% +25.51 +0.77% +15.89 +1.05% | | | | 沪深300 | 中证500 | 中证A500 | | 4758.92 | 8056.69 | 5881.95 | | +21.27 +0.45% +162.14 +2.05% +51.38 +0.88% | | | | 中证1000 | 深证100 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 在"开门红"资金预期下，业内人士认为，春季行情开启，2026年A股市场风格正在向更均衡的全面牛市 演进。 历史突破 1月6日，A股三大指数全线上涨。上证指数涨1.50%，报4083.67点，不仅突破去年11月高点，也创逾十 年新高；深证成指涨1.4%，创业板指涨0.75%。 上证指数当日实现日线13连阳，创史上最长连阳纪录。上一次纪录是1992年2月25日至1992年3月11日， 上证指数日线曾实现12连阳，这一连阳纪录保持了33年之久。 特约记者丨庞华玮 编辑丨姜诗蔷 视频丨柳润瑛 1月6日，A股市场写下两项历史纪录：上证指数收于4083.67点，创下近十年收盘新高；同时，其连续13 个交易日的上涨，打破了尘封33年的最长连阳纪录。 当日市场放量至2.83万亿元，资金做多热情高涨。投资人戏称："4000点从收费站变成了加油站。" 机构分析，本轮上涨的核心动力在于保险、融资及外资的持续流入。 盘面上，脑机接口板块再度掀起涨停潮，三博脑科、伟思医疗等近20股涨停；商业航天板块持续拉升， 中国卫通、金风科技等8只个股涨停，其中，中国卫通涨停 ...

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].

数据显示，上证指数历史上实现10连阳以上的情形并不多见，连阳后市场走势存在较大不确定性，历史 数据分化较大。 1月6日，上证指数大涨1.5%，再度收出阳线，实现13连阳，创出该指数史上最长连阳纪录。 1992年2月25日至1992年3月11日间，上证指数曾实现12连阳，这一连阳纪录保持了33年之久，直至昨日 被打破。 需要注意的是，指数上涨和K线收阳并不完全同步。上证指数曾于1991年10月3日至1992年2月4日间连 续数十个交易日收盘上涨，但其中多个交易日的收盘点位低于或等于当日的开盘点位，并未同步连续收 出阳线。 2017年12月28日至2018年1月12日间，上证指数再度实现11连阳，累计涨幅为4.68%，上证指数随之向 上突破了3400点。此后不久，上证指数陷入调整，至2019年1月一度跌破2500点。 前海开源基金首席经济学家杨德龙认为，2026年行情是2025年行情的延续，支撑此轮牛市的因素没有改 变，包括政策支持、居民储蓄转移，以及随着硬件和软件方面不断实现突破，外资对中国科技创新的看 法变得越来越积极。他认为，2026年A股市场有望从结构性牛市转向全面牛市，前期滞涨的一些优质龙 头股，有可能 ...

北京商报讯（记者 马换换 李佳雪）1月6日，A股三大股指开盘涨跌不一，开盘后集体震荡走高。截至 收盘，上证综指收涨1.5%，录得13连阳，创出A股史上最长连阳纪录，报4083.67点，再创逾十年新 高；深证成指、创业板指则分别收涨1.4%、0.75%，分别报14022.55点、3319.29点。 成交金额方面，沪市成交金额11757.69亿元，深市成交金额16308.06亿元，两市合计成交金额约2.81万 亿元。 前海开源基金首席经济学家杨德龙表示，2026年行情是2025年行情的一个延续，因为支撑这轮牛市的因 素并没有发生改变，包括政策支持、居民储蓄向资本市场大转移，以及随着中国在硬件和软件方面不断 实现突破，外资对于中国在科技创新方面的看法变得越来越积极。近期，包括高盛在内的国际投行纷纷 发表了对中国资本市场看多的观点，这也为市场带来了更多的增量资金。 杨德龙指出，2026年A股市场有望从结构性牛市转向全面牛市，特别是前期滞涨的一些优质龙头股，有 可能迎来估值提升的机会，包括消费白马股、新能源龙头股，以及军工、有色等板块，未来可能会实现 轮动上涨。 盘面上，人脑工程板块掀起涨停潮，保险、证券等大金融板块大 ...

Core Viewpoint - Domestic and foreign investment institutions predict that the A-share market will transition from a structural bull market to a more comprehensive bull market in 2026, with expectations of a gradual recovery in earnings [1][20]. Group 1: Market Outlook - According to China Securities, A-shares are expected to move from the "Bull Market II Phase" to the "Bull Market III Phase," driven by profit improvements, with a projected earnings growth rate of 5%-10% for non-financial A-shares in 2026 [2][25]. - The overall net profit growth for A-shares is anticipated to reach 16.5% in 2026, supported by a recovery in gross margins and a more balanced market across various sectors [4][27]. - Morgan Stanley forecasts a 6% earnings growth for the MSCI China Index in 2026, accelerating to 10% in 2027, with a target price for the index set at 90 points [38]. Group 2: Investment Themes - Key investment themes identified include technology, "anti-involution," and sectors benefiting from domestic demand recovery, with a focus on AI, new energy, and military technology [11][13][20]. - Goldman Sachs emphasizes a shift from valuation-driven to earnings-driven growth, highlighting the importance of AI and "anti-involution" policies as major growth drivers [34]. - UBS suggests focusing on self-sufficiency, "anti-involution," and overseas expansion, with an expected earnings growth rate for A-shares rising from 6% to 8% in 2026 [36][37]. Group 3: Asset Allocation - Recommended asset allocation includes sectors such as non-ferrous metals, machinery, power equipment, electronics, media, and social services [3][26]. - Investment strategies should focus on high-growth sectors like AI, new energy, and innovative pharmaceuticals, as well as traditional cyclical sectors benefiting from price recovery and demand stimulation [4][27]. - Specific stocks with strong growth in the "anti-involution" theme have shown significant revenue and profit increases, indicating potential investment opportunities [24][45].

Group 1: Federal Reserve Actions - The Federal Reserve announced a rate cut of 25 basis points, bringing the target range for the federal funds rate to 3.5%-3.75%, marking the third cut of the year and a total reduction of 75 basis points [1][10] - Fed Chairman Jerome Powell indicated that further rate hikes are unlikely, attributing current inflation partly to tariff factors, and noted that excluding these factors, inflation is around 2%, close to the Fed's target [1][11] - The Fed's decision to cut rates has alleviated concerns about a hawkish signal, with Powell stating that policymakers are observing economic trends and that rate hikes are not the current baseline scenario [11][12] Group 2: Economic Outlook - The Fed's continued rate cuts are expected to lead to a depreciation of the US dollar, while the Chinese yuan is anticipated to appreciate, potentially attracting more foreign capital into Chinese assets [12][13] - The macroeconomic outlook for 2026 suggests a shift in global capital flows, with funds moving from high-valued US markets to lower-valued A-shares and Hong Kong stocks, enhancing the revaluation potential of Chinese assets [13][16] - China's GDP growth is projected to remain around 5% in 2026, supported by stable economic recovery, which will provide a foundation for the A-share market to maintain a slow bull and long bull trend [17] Group 3: Capital Market Trends - The capital market is expected to see a continued shift towards equity funds, with public fund sales likely to recover, driven by a significant increase in household savings, which have reached 165 trillion yuan [14][15] - The market is anticipated to stabilize above the 4000-point mark, with a gradual upward trend rather than a rapid bull market, characterized by a "two steps forward, one step back" pattern [14][15] - The technology sector, which has been a standout performer, is expected to remain a key investment theme in 2026, alongside potential rebounds in the new energy and consumer sectors [14][16] Group 4: Global Trade and Policy - The negative impact of US-China trade tensions on exports is diminishing, with China's trade surplus exceeding one trillion dollars this year, a historical high [17] - The "dual circulation" strategy emphasizes the importance of both domestic and international markets to ensure sustainable economic growth, balancing external demand with internal consumption and investment [17] - The central government's policies are set to support economic growth through proactive fiscal measures and a moderately loose monetary policy, aiming to create a favorable financial environment [13][14]

Core Viewpoint - The recent annual investment strategy conference held by Shenwan Hongyuan featured an outdoor clothing sale, which attracted attention but was stated to have no significant impact on the conference itself [4][5]. Company Overview - Shenwan Hongyuan hosted its annual investment strategy conference at the Grand Hyatt Hotel in Shanghai, with over 1,900 investors and representatives from 518 listed companies in attendance [8]. - The conference included a main forum and 12 sub-forums covering various core areas such as asset allocation, high-end manufacturing, artificial intelligence, consumption, and cyclical sectors [8]. Market Outlook - The macroeconomic outlook for 2026 suggests that the "15th Five-Year Plan" will accelerate reform dividends, with nominal GDP expected to improve and the economy transitioning from atypical recovery to a virtuous cycle [10]. - The strategy indicates a two-phase bull market for A-shares, with an initial high-level adjustment followed by a comprehensive bull market in the second half of 2026 [10]. - The bond market is anticipated to experience fluctuations, focusing on "asset allocation rebalancing" and "price recovery" as key themes for 2026 [10].