Group 1 - The A-share market indices collectively rose on January 21, with the Shanghai Composite Index recovering its 5-day and 10-day moving averages in the morning session, but afternoon trading volume weakened, making it difficult for the index to break through effectively [1] - Regulatory new policies are expected to guide market sentiment back to rationality, which will benefit the gradual improvement of the market's inherent stability [1] - As the annual performance forecasts of listed companies enter a concentrated disclosure period, market speculation is expected to significantly increase, shifting the investment focus from macro liquidity to micro performance verification [1] Group 2 - The A-share major indices showed a mixed performance on January 21, with approximately 3/5 of stocks rising, indicating a relatively good market sentiment and profitability effect despite reduced trading volume [2] - The prices of precious metals continued to rise due to international geopolitical tensions, with the non-ferrous metals sector maintaining strength and showing upward movement [2] - The white wine sector experienced a downward trend influenced by the pre-disclosure of declining performance by some companies [2] Group 3 - The A-share market exhibited a shrinking and fluctuating trend on January 21, with structural differentiation continuing and accelerated rotation among sectors, reflecting a strong willingness for capital to switch between high and low [3] - The market is expected to continue its oscillation in the short term, with a broad rally still needing to wait, but maintaining a trading volume above 2.5 trillion yuan may present numerous structural opportunities [3] - Recent counter-cyclical regulatory measures have laid an important foundation for the stability of the index in the future, with a focus on "performance fundamentals" becoming more pronounced [3]