Market Performance - The North Exchange 50 Index increased by 1.58% as of January 16, 2026, compared to the previous week[5] - The average market capitalization of North Exchange A-shares is 3.069 billion yuan[14] - The average daily trading volume for North Exchange A-shares was approximately 40.191 billion yuan, up 53.80% from the previous week[5] Sector Analysis - High-end manufacturing and new materials have become the main market themes recently[1] - The North Exchange A-shares have a turnover rate of 7.89%, which is significantly higher than that of the Sci-Tech Innovation Board and the Shanghai Stock Exchange Main Board[5] Investment Recommendations - Focus on high-prosperity sectors and scarce leading companies driven by policy catalysts, such as commercial aerospace, intelligent manufacturing, and digital economy[5] - The PE ratios for North Exchange A-shares, ChiNext, Shanghai Main Board, Shenzhen Main Board, and Sci-Tech Innovation Board are 73.80, 77.49, 14.08, 43.29, and 248.68 respectively, indicating significant valuation differentiation[22] Regulatory News - The National Development and Reform Commission and other departments issued guidelines to standardize government investment fund operations, effective for five years[10] - The Ministry of Commerce imposed anti-dumping duties on imported polysilicon from the U.S. and South Korea, with rates ranging from 4.4% to 113.8%[11] Risks - Policy risks may affect market stability, with potential volatility if policies do not meet expectations[23] - Liquidity risks remain, as the North Exchange's overall liquidity is lower than that of the main boards[23]