The Shanghai Composite Index is striving for the 4000-point mark, and institutional research indicates that the investment style is expected to become more balanced towards the end of the year.

Since November, the Shanghai Composite Index has repeatedly fluctuated around the 4000-point mark, with a noticeable increase in rotation between sectors and within sectors. Themes such as AI, new energy, resources, and consumer goods have all shown some performance, but the sustainability of the uptrend is relatively limited. According to brokerage research reports, the recent wide fluctuations in the A-share market are mainly affected by internal and external factors. On one hand, the risk appetite in overseas markets has quickly cooled down, impacting the A-share market to a certain extent. On the other hand, the Shanghai Composite Index has encountered temporary resistance at the 4000-point mark, and there is still a demand for valuation digestion in sectors that have accumulated large gains. Looking ahead, institutions believe that the market will continue to maintain a range-bound pattern in the short term, with periodic market style rebalancing potentially lasting for several months. From a longer-term perspective, sectors such as TMT and advanced manufacturing representing technological growth are still expected to be the main drivers of index breakthroughs.