申万宏源策略 【申万宏源策略 | 一周回顾展望】马年A股平稳开局 原创 阅读全文 ...

Group 1 - The article does not contain any relevant content regarding company or industry insights [1]

为什么我说 “打工，不如投资” 呢？因为二级的红利每个人都有机会吃到。如果你在 AI 或者显卡需求刚火的时候就买了英伟达，那么收益率其实未必比不上 BTC。而你想吃到这波红利，其实只需要一个能买到 $NVDA 的券商账户。如今或许机器人赛道的二级也远没到顶今天看到这条微博，我的第一反应就是 “或许机器人板块还能继续涨到年中”。A 股这边的逻辑，就是老美要有的我们也要有，加上国内股市这轮牛感觉远远还没结束，两会在三月，三月或许会出台一系列相关政策促使机器人板块进一步繁荣吧毕竟，宇树都还没正式 IPO 发行，龙头还没上架，你跟我说机器人见顶？不会吧不会吧现在我们想吃到红利就更简单了，甚至不用开通账户，直接买 onchain stocks 都行，虽然目前还有一些费率问题和流动性的问题，但对于大部分小户来说已经可以满足。我有券商账户，还是会选择券商买费率便宜，但是有时候为了速度 / 加杠杆的需求，还是会用一下 hyperliquid 之类的来开一单。而国内的股票由于政策关系，onchain 的部分很难操作，但中国公民开通 A 股券商也没啥难度，还是挺适合去试试水的币圈肯定还是会有钱赚的，我也还持有一些 BTC 现货， ...

Core Viewpoints - The current A-share market is characterized as a "confidence bull," driven by improved expectations of national governance and enhanced expectations of technology leading the economy, with the movement of residents' deposits being a result rather than a cause [2][5] - The outlook for A-shares in 2026 is expected to be a "sideways fluctuation with slight strengthening," emphasizing the pursuit of a long-term, slow, and healthy bull market while being cautious of rapid bull markets that may lead to sharp declines [2][6] - The previous "dumbbell" market trend has ended, shifting investment opportunities from "high-growth technology + low-volatility high-dividend" extremes to a focus on mid-cap blue chips, particularly in the cyclical and manufacturing sectors [2][6] Investment Opportunities - Opportunities in cyclical industries are not in the real estate chain but are related to national strategies in three sectors: chemicals, metals, and agriculture [3][7] - AI remains a core focus in technology, with long-term potential, but is currently in a phase of expectation verification, requiring careful stock selection [3][9] - The investment focus for the next 3 to 6 months should be on cyclical and manufacturing sectors, as these align with national strategies and economic transformation [7][8] Market Dynamics - The core drivers of the current market uptrend are improvements in national governance and stronger expectations for technology-led economic growth, with significant achievements in diplomacy, defense, and trade contributing to economic resilience [4][5] - The market is currently at a critical juncture around the 4100-point level, with the need for new drivers to support further upward movement, as previous gains have largely reflected the core drivers [6][12] - The transition from a "dumbbell" market structure to a focus on mid-cap blue chips indicates a shift in risk appetite, with low-volatility, high-dividend stocks losing their appeal [11][12] Future Outlook - The AI sector is expected to experience a period of consolidation and differentiation, with the potential for long-term growth remaining intact despite short-term fluctuations [9][10] - The public fund commission rate reform is prompting a strategic shift in brokerage research departments, moving towards comprehensive service for institutional clients beyond just public funds [17] - The securities research industry is seen as a field of continuous learning and growth, with a call for new talent to join and contribute to the evolving landscape [18]

Group 1 - The A-share market is expected to rise significantly on Monday, with a strong belief that it will not decline, aiming to surpass the 4100-point mark [1] - The opening of the A-share market is anticipated to be positive, with expectations of the Shanghai Composite Index opening above 4085 points and potentially closing with a gain exceeding 1% [3] - The Hong Kong Hang Seng Index is projected to open with at least a 1.2% increase, starting above 26878 points, and may close with a gain of over 2% [5]

Group 1 - The core viewpoint is that the recent global asset adjustment is more about digesting emotions through narratives rather than any substantial changes in fundamentals or policy paths [1] - The previous adjustments have released certain risks, and the most impactful moments of narrative changes on market sentiment may be gradually passing [1] - Increased event catalysts and factors like the "Spring Festival effect" are expected to create a favorable environment for market recovery, suggesting a strategy of holding stocks through the holiday has both high probability and payoff [1] Group 2 - The recommendation is to gradually move away from a defensive mindset and focus on positioning for the Spring Festival market [1]

巴基斯坦首都爆炸已致31死 责编：刘珺宇 校对： 吕久彪 百万用户都在看 A股突发！多只大牛股，紧急提示风险！ 集体杀跌！三大变数，突袭股市！ 利好来了！多只A股，突发公告！ 直线拉升！光刻机巨头，传来重磅利好！AI，再度引爆！ 截至目前，巴基斯坦首都伊斯兰堡爆炸造成的死亡人数已增至31人，爆炸发生后被送往医院救治的伤者人数已 达169人。 此前报道 巴基斯坦首都突发爆炸，初判为自杀式恐袭 据巴基斯坦媒体报道，当地时间2月6日下午，巴基斯坦首都伊斯兰堡市塔尔莱地区的赫地加杜鲁·库巴拉清真 寺发生爆炸事件。目前，警察和救援队伍已抵达现场。 伊斯兰堡警察局声明称，初步判断爆炸事件为自杀式恐袭。目前死伤人数不详。 根据伊斯兰堡警察局最新通知，伊斯兰堡全市已进入紧急状态。 来源：人民日报 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , ...

据"江苏人大发布"微信公众号消息，江苏省第十四届人民代表大会第五次会议，于2026年2月6日补选储 永宏、王学锋为江苏省第十四届人民代表大会常务委员会副主任。 百万用户都在看 A股突发！多只大牛股，紧急提示风险！ 集体杀跌！三大变数，突袭股市！ 利好来了！多只A股，突发公告！ 直线拉升！光刻机巨头，传来重磅利好！AI，再度引爆！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 公开报道显示，储永宏出生于1966年1月，曾任江苏省财政厅厅长，2021年任副省长，2022年任省委常 委、省委秘书长。直至此番履新。 王学锋出生于1971年1月 ...

Group 1 - The article discusses the evolving landscape of asset management, highlighting the shift towards more technology-driven solutions and the increasing importance of data analytics in investment strategies [1] - It emphasizes the growing competition among asset management firms as they adapt to changing market conditions and client expectations, particularly in the wake of the COVID-19 pandemic [1] - The article notes that firms are increasingly focusing on sustainable investing, with a significant rise in ESG (Environmental, Social, and Governance) assets, which are projected to reach $53 trillion by 2025, representing more than a third of global assets under management [1] Group 2 - The report indicates that traditional asset management models are being challenged by fintech companies that offer innovative solutions and lower fees, prompting established firms to rethink their business strategies [1] - It highlights the importance of regulatory changes and compliance in shaping the asset management industry, as firms must navigate a complex landscape of rules and standards [1] - The article also points out the role of artificial intelligence and machine learning in enhancing investment decision-making processes, allowing firms to analyze vast amounts of data more efficiently [1]

Market Overview - The major A-share indices in Shanghai and Shenzhen continued to adjust, with most stocks declining and a noticeable increase in the number of stocks hitting the daily limit down [1] - The semiconductor and non-ferrous metal sectors experienced significant declines, indicating low market sentiment [1] Index Analysis - Focus was placed on analyzing the Shanghai 50 Index and the ChiNext Index during the midday session, with further analysis planned for the Shanghai Composite Index and the Sci-Tech Innovation 50 Index after the afternoon close [2] Shanghai 50 Index - The Shanghai 50 Index opened significantly lower, near last Friday's lowest price, which is considered a normal movement to fill the lower shadow [5] - After an early morning rebound, the high point was only slightly above last Friday's closing price, indicating short-term weakness in the index [5] - The index found support near the 60-day moving average, and the hourly chart showed adjustments near the annual line, suggesting potential support [5] - The market is expected to continue adjusting in the afternoon, with a possibility of a rebound either in the afternoon or on Tuesday [5] ChiNext Index - The ChiNext Index showed a stabilization signal last Friday, but only resulted in a high opening followed by a decline, indicating short-term weakness [7] - The hourly chart indicated an effective adjustment cycle after a morning decline, with a significant period remaining before a potential change in trend [7] - The index is likely to continue adjusting in the afternoon [7]