China Securities Investment Strategy: Grasp the opportunity at the beginning of the year to lay out three major directions

Securities Times e company news, the Chen Guo team of CITIC Construction Investment said in a research report that the recent A-share adjustment, long-term and short-term interest rates have diverged, and the maturity spread has narrowed, which more reflects expectations of economic recession and concerns about the effects of lenient credit policies. In this context, looking forward to the market situation in January this year, we believe that the A-share market is expected to usher in a rebound, and the overall performance should be stronger than that in December last year, and the opportunity at the beginning of the year should be grasped. The main reason for the market recovery in January is that the risk appetite and liquidity at the beginning of the year will be improved. At present, there are three main optimistic directions: opportunities for the transformation and revaluation of traditional industries with low valuations; opportunities for the completion of hard technological adjustments; and the direction of fiscal focus.