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1月份A股市场所面临的内外部宏观环境继续趋于恶化,市场的忧虑将从宏观面转向上市公司的业绩。在1月份市场被动性估值回升压力增大的过程中,我们依然期待来自刺激消费与行业振兴两条主线的积极政策,并关注流动性改善预期下资金推动型行情未来的演变方向。
The internal and external macroeconomic conditions faced by the A-share market in January continued to deteriorate. Market concerns will shift from the macro-level to the performance of listed companies. During the upward pressure on market passive valuation appreciation in January, we are still looking forward to the positive policies from the two main lines of stimulating consumption and rejuvenating the industry. We are also concerned about the future evolution of the capital-driven market under the expectation of liquidity improvement.