CITIC Securities: Blue-chip market is expected to gradually spread in the industry and style dimensions-Securities Times

According to the Securities Times, CITIC Securities pointed out that policy synergy is gradually taking shape. It is expected that the economic stabilization and the recovery of the credit cycle in January will be verified. After the new year, the influx of incremental funds and the positive increase of stock funds are expected to open the “good start” market. After the preview of the blue chip market in the fourth quarter of last year, it is expected to spread. The best time to participate in the first quarter or the whole year. First of all, the policy in the first quarter is expected to move from a relay to a joint force. There are sufficient policy guarantees to stabilize the economy and stabilize the market. It is expected that in January, the bottoming-out trend of the economy in the fourth quarter will be verified. At the same time, the rebound in the credit cycle will also improve the market’s expectations for the future economy. Secondly, it is expected that the “good start” of fund issuance will drive the influx of incremental funds. After the new year, the game behavior of stock funds will decline and actively increase positions. The market has begun to form a consensus on the market at the beginning of the year. Finally, under loose policies, moderate macroeconomics and market environment, the best time to participate in the first quarter or the whole year, the incremental capital structure style may be more diversified, and it is expected that the blue chip market will gradually spread in the industry and style dimensions. In terms of configuration, it is recommended to continue to actively participate in the “good start” market around the “three lows”.