Market Overview - The A-share market opened high and experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 4121 points[3] - The Shanghai Composite Index closed at 4120.43 points, up 0.92%, while the Shenzhen Component Index rose 1.15% to 14120.15 points[9] - Total trading volume for both markets reached 31,526 billion yuan, above the median of the past three years[4] Sector Performance - The cultural media, internet services, software development, and gaming sectors performed well, while the aviation, insurance, photovoltaic equipment, and shipbuilding sectors lagged[4] - Over 70% of stocks in the two markets saw gains, with significant inflows into cultural media and internet services[9] Valuation Metrics - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices are 16.73 times and 52.02 times, respectively, above the median levels of the past three years[4] - The market is considered suitable for medium to long-term investments based on current valuations[4] Future Outlook - The market is expected to maintain a slight upward trend, supported by improved corporate earnings and favorable monetary policy conditions[4] - Investors are advised to focus on macroeconomic data, changes in overseas liquidity, and policy developments, particularly in aerospace, software development, and cultural media sectors[4] Risks - Potential risks include unexpected overseas economic downturns, domestic policy changes, and international relations affecting the economic environment[5]

1月9日早盘，A股三大指数开盘涨跌不一，沪指盘中拉升涨超0.5%，突破4100点，续创2015年7月底以 来新高。 沪深两市成交额连续第155个交易日突破1万亿，较上一日此时放量超900亿，预计全天成交金额近3万 亿。 （文章来源：21世纪经济报道） ...

下载财联社APP获取更多资讯 7x24h电报 头条新闻 VIP资讯 实时盯盘 今日开盘后，A股三大指数继续走强，沪指盘中拉升涨0.5%，突破4100点，续创2015年7月底以来新高。 准确 快速 权威 专业 ...

证券研究报告 | 2026年01月08日 策略专题 入市增量资金有望超两万亿——2026 年牛市展望系列 1 核心结论：①25 年 A 股增量资金市场特征明显，杠杆资金、私募资金等活跃 资金成为主要入市力量，险资亦有较大入市体量，主动偏股公募整体净赎回。 ②当前入市资金或主要来源于高净值人群，随着大部分居民风险偏好自低位 逐渐修复，26 年普通居民资金有望成为主力入市资金。③25 年宏微观背景 与 20 年均具有一定相似性，但增量资金结构存在差异，借鉴历史伴随居民 资金入市进程推进，26 年全年增量资金预计达 2 万亿元。 2025 年 A 股增量资金主力来自活跃资金。25 年亮眼行情的背后离不开充裕 的资金面支撑，25 年的资金入市可分为两个阶段：25 年上半年市场行情震 荡修复，政策支持+产业催化下各路资金"多点开花"。上半年一方面代表 散户资金的银证转账资金流入 2400 亿元，外资亦阶段性回流约 1000 亿元； 另一方面追求长线投资的险资大幅流入约 4200 亿元，此外 ETF 资金亦流入 约 800 亿元。行业层面看，上半年增量资金主要流入科技和红利板块。Q3 以 来市场放量拉升，主要增量资金来自 ...

Investment Rating - The industry is rated as "stronger than the market," indicating an expected increase of over 10% in the industry index relative to the CSI 300 index over the next six months [16]. Core Views - The A-share market experienced slight fluctuations with a resistance level around 4093 points for the Shanghai Composite Index, while sectors such as aerospace, shipbuilding, internet services, and power equipment performed well [2][3]. - The average price-to-earnings ratios for the Shanghai Composite and ChiNext indices are 16.76 times and 51.97 times, respectively, which are above the median levels of the past three years, suggesting a favorable environment for medium to long-term investments [3][15]. - The total trading volume on the two exchanges was 28,265 billion, indicating a level above the median daily trading volume over the past three years, reflecting strong market activity [3][15]. - Key factors supporting the market include increased attractiveness of RMB assets, expectations for early-year credit issuance, and positive changes in corporate profit structures driven by advanced manufacturing and overseas enterprises [3][15]. - The domestic monetary policy is expected to maintain a stance of "moderate easing," while the market anticipates that the Federal Reserve will continue its rate-cutting cycle in 2026, contributing to a more accommodative global liquidity environment [3][15]. - The Shanghai Composite Index is likely to maintain a slight upward trend, with short-term investment opportunities identified in aerospace, shipbuilding, internet services, and power equipment sectors [3][15]. Summary by Sections A-share Market Overview - On January 8, the A-share market faced resistance and slight fluctuations, with the Shanghai Composite Index closing at 4082.98 points, down 0.07%, and the Shenzhen Component Index at 13,959.48 points, down 0.51% [7][8]. - The market saw over 70% of stocks rising, particularly in shipbuilding, aerospace, engineering consulting, wind power equipment, and photovoltaic equipment sectors, while energy metals, insurance, and securities sectors lagged [7][9]. Future Market Outlook and Investment Recommendations - The report suggests that the current market conditions are suitable for medium to long-term investments, with a focus on sectors that are showing strong performance [3][15]. - Investors are advised to closely monitor macroeconomic data, changes in overseas liquidity, and policy developments, particularly in the aerospace, shipbuilding, internet services, and power equipment sectors for potential investment opportunities [3][15].

人民财讯1月8日电，1月8日，A股市场成交额约2.83万亿元，较上一交易日略有萎缩，上一交易日成交 额约2.88万亿元。截至目前，A股市场已连续3个交易日成交额超过2.8万亿元。 ...

Market Overview - On January 7, the A-share market experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 4097 points[2] - The total trading volume for both markets reached 28,818 billion yuan, above the median of the past three years[3] - The Shanghai Composite Index closed at 4,085.77 points, up 0.05%, while the Shenzhen Component Index rose 0.06% to 14,030.56 points[7] Sector Performance - Strong performers included coal, non-ferrous metals, electric grid equipment, and power equipment sectors[3] - Weaker sectors included shipbuilding, securities, jewelry, and education[3] - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices were 16.76 times and 51.81 times, respectively, above the median levels of the past three years[3] Investment Outlook - The market is expected to maintain a slight upward trend, supported by improved corporate earnings structures and favorable monetary policies[3] - Investors are advised to focus on sectors such as coal, non-ferrous metals, electric grid equipment, and power equipment for short-term opportunities[3] - Anticipated continued easing of monetary policy and expectations of a prolonged interest rate cut cycle by the Federal Reserve may enhance market liquidity[3] Risks - Potential risks include unexpected overseas economic downturns, domestic policy changes, and macroeconomic disturbances[4]

人民财讯1月7日电，1月7日，A股市场成交额继续增长，全天合计成交额达2.88万亿元。至此，A股市 场已连续2个交易日成交额超过2.8万亿元，上一交易日成交额约2.83万亿元。 ...

来源：新华社 中国上市公司协会日前发布2025年A股上市公司市值表现报告。根据报告，截至2025年底，A股上市公 司共5469家，总市值123万亿元，其中2025年新增上市公司116家。2025年1月1日前上市的存量公司共 5353家，2025年存量上市公司总市值同比增长22.5%。 中国上市公司协会资料图 中上协数据显示，2025年市场整体估值稳步抬升，A股上市公司的平均市净率从3.3增长至4.4。此外， 公募基金中A股配置比重增长2.4个百分点，反映出投资者对中国上市公司高质量发展的认可。 2025年科技驱动型行业市值增幅较大，以制造业、科学研究和技术服务业为代表的高新技术企业市值变 化尤为突出，总市值较年初分别增长33.3%和32.1%，占A股市值的比重分别增加4.2个百分点和0.1个百 分点。 此外，2025年民营科创上市公司表现活跃，民营上市公司整体市值增长了37.0%，占A股市值的比重从 年初的33.6%增长至37.5%。国有上市公司占A股市值的比重接近50%。 ...

重要的消息有哪些 1．2026年中国人民银行工作会议1月5日—6日召开。会议强调，2026年重点抓好以下工作：继续实施好 适度宽松的货币政策。把促进经济高质量发展、物价合理回升作为货币政策的重要考量，灵活高效运用 降准降息等多种货币政策工具，保持流动性充裕，保持社会融资条件相对宽松，引导金融总量合理增 长、信贷投放均衡，使社会融资规模、货币供应量增长同经济增长和价格总水平预期目标相匹配。畅通 货币政策传导机制，发挥好政策利率引导作用，做好利率政策执行和监督，促进社会综合融资成本低位 运行。有序扩大明示企业贷款综合融资成本工作覆盖面，推动明示个人贷款综合融资成本。保持人民币 汇率在合理均衡水平上的基本稳定，防范汇率超调风险。 2．2026年全国外汇管理工作会议1月5日至6日在京召开。会议部署了2026年外汇管理重点工作。保障外 汇储备资产安全、流动和保值增值。推进《外汇管理条例》修订，建设更高标准国际收支统计体系，稳 步探索建设"智慧外管"，提高外汇管理数智化水平。 3．1月6日，上交所披露，2025年A股股票账户新开户累计2743.69万户，相较于2024年的2499.89万户， 同比增长9.75%。就202 ...