On December 18, Orient Securities 2026 Investment Strategy Meeting kicked off in Shanghai. Huang Yanming, director of the Orient Securities Research Institute, said at the conference that the 2026 stock market can be simply summed up as “sideways fluctuation, slightly strengthening”. The entire market showed a gradual upward process of sideways fluctuation. This process will take a long period of time to complete gradually, and no one can expect it to happen overnight. The core driving factor supporting the slight strengthening of A-shares is that expectations for national governance continue to rise. Investment opportunities in 2026 are blue chips in the middle market in the early stages, and scientific and technological innovation in the later stages. The macro and strategy team of Orient Securities Research Institute said that in this era of global uncertainty, the stability, continuity, pragmatism and forward-looking planning of China's policies are an outstanding comparative advantage, and this is becoming the consensus of more global investors. Looking ahead to next year, capital reallocation driven by narrative forces such as technological breakthroughs and risk reduction is expected to continue. Focus on new policy ideas during the “15th Five-Year Plan” period to push the economy towards rebalancing. The overseas macroeconomic environment will continue to be favorable to China's asset performance. US policy easing is yet to be completed, and the global “loose policy+poor economy” combination provides a moderate “smooth wind” for risky assets.

On December 18, Orient Securities 2026 Investment Strategy Meeting kicked off in Shanghai. Huang Yanming, director of the Orient Securities Research Institute, said at the conference that the 2026 stock market can be simply summed up as “sideways fluctuation, slightly strengthening”. The entire market showed a gradual upward process of sideways fluctuation. This process will take a long period of time to complete gradually, and no one can expect it to happen overnight. The core driving factor supporting the slight strengthening of A-shares is that expectations for national governance continue to rise. Investment opportunities in 2026 are blue chips in the middle market in the early stages, and scientific and technological innovation in the later stages. The macro and strategy team of Orient Securities Research Institute said that in this era of global uncertainty, the stability, continuity, pragmatism and forward-looking planning of China's policies are an outstanding comparative advantage, and this is becoming the consensus of more global investors. Looking ahead to next year, capital reallocation driven by narrative forces such as technological breakthroughs and risk reduction is expected to continue. Focus on new policy ideas during the “15th Five-Year Plan” period to push the economy towards rebalancing. The overseas macroeconomic environment will continue to be favorable to China's asset performance. US policy easing is yet to be completed, and the global “loose policy+poor economy” combination provides a moderate “smooth wind” for risky assets.