Over half of the respondents are optimistic about the technology sector's performance next week. From December 1 to 5, the A-share market saw mixed movements, with trading volume remaining above 1.5 trillion yuan. In terms of indices, the Shanghai Composite Index rose 0.37% for the week, closing at 3,902.81 points; the Shenzhen Component Index gained 1.26%, while the ChiNext Index climbed 1.86%, making it the best-performing major A-share index this week.
Among the Shenwan primary industries, the non-ferrous metals index led gains, rising 5.35%, followed by the communications index with a 3.69% increase. Defense, machinery, and non-bank financial indices also rose over 2%. Meanwhile, media, real estate, and beauty & personal care indices were among the worst performers, declining 3.86%, 2.15%, and 2.01%, respectively.
In terms of capital flows, A-shares saw a net outflow of approximately 96.38 billion yuan in main funds this week. The power equipment, computer, and electronics sectors recorded the highest net outflows, at 13.72 billion yuan, 11.87 billion yuan, and 10.72 billion yuan, respectively. On the other hand, coal, building materials, and non-ferrous metals sectors saw net inflows exceeding 100 million yuan, with 290 million yuan, 340 million yuan, and 594 million yuan, respectively.
**Strong Earnings Effect in A-Shares This Week** On December 6, a survey report titled *Can the Market Rally Next Week?* was released, showing enthusiastic participation from respondents. Regarding position changes, 23% of respondents increased their holdings, 17% reduced positions, 4% liquidated entirely, while 55% maintained their current holdings.
In terms of position management, the proportions of respondents with "full positions," "below 50%," and "zero positions" decreased by 1, 2, and 1 percentage points, respectively, settling at 36%, 16%, and 4%. Meanwhile, those holding "50%~100%" surged by 6 percentage points to 37%, while "full positions with leverage" remained unchanged at 8%.
Regarding profitability, about half of the respondents reported gains this week. Specifically, 46% saw profits below 10%, while 4% gained over 10%. Conversely, 36% reported losses below 10%, 8% lost between 10% and 20%, and 5% suffered losses exceeding 20%.
**Over Half of Respondents Expect A-Shares to Surpass 4,000 Points Next Week** This week, the Shanghai Composite Index closed at 3,902.81 points amid mixed market movements. For next week’s outlook, 39% of respondents voted for "sideways consolidation below 4,000 points," representing the mainstream view. Meanwhile, 31% expect the index to "break 4,000 points and stabilize higher," reflecting balanced bullish and bearish sentiment.
Additionally, 21% anticipate a "brief surge above 4,000 points followed by a pullback." Combined, 52% of respondents—over half—are optimistic about the index surpassing 4,000 points next week.
In terms of investment strategies, 15% plan to "actively allocate capital to seek alpha opportunities," while 22% prefer to "stay stable and pursue beta returns." Another 24% intend to lock in profits or cut losses by selling at opportune moments.
When asked about the potential peak of the current bull market, 47% of respondents projected 4,000 points for the Shanghai Composite, while 37% forecast 5,000 points. With the index currently oscillating near 3,999 points, respondents remain broadly optimistic about A-shares' long-term upward momentum.
Regarding market risk assessment, 59% view A-shares as medium-risk, 12% as high-risk, and 24% as low-risk.
**Tech Sector Sentiment Continues to Soar** For next week’s potential sectors, bullish sentiment toward technology surged by 7 percentage points to 54%, making it the most favored sector. Non-ferrous metals followed, rising 3 percentage points to 10%. Meanwhile, optimism for new energy, defense, and consumer sectors declined by 4, 3, and 3 percentage points, respectively, settling at 4%, 4%, and 6%.
A chief economist noted that looking ahead to 2026, the tech rally in A-shares and Hong Kong stocks remains well-supported. The national "AI Plus" initiative and regional implementation plans underscore artificial intelligence as the core driver of this technological revolution. AI’s widespread adoption across industries has significantly boosted productivity, and its expanding applications highlight long-term value creation potential.
From a medium-to-long-term perspective, technological innovation remains pivotal for China’s economic transformation and high-quality development. Thus, investment opportunities in cutting-edge fields like AI in 2026 warrant further exploration.
The content is for informational purposes only and does not constitute investment advice. Investors should proceed at their own risk.
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