CSI 300 Rises 0.36%
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The A-share market is in a “rebound attempt” phase, where indices are recovering mildly but with weak volume, requiring observation for effective follow-through days and volume confirmation. The SSE Index(000001) rose by 0.41% this week, with the final day’s trading volume down by approximately -20.02% compared to its 50-day average; prices remain above the 50-day and 200-day moving averages but have slightly retreated from the 5/10/20-day moving averages. The CSI 300(000300) increased by 0.36% this week, with the final day’s volume down by about -19.11%, sitting around +7.21% above the 200-day moving average and close to the 50-day moving average. The Shenzhen Index(399001) rose by 1.39%, at approximately +2.01% and +15.38% away from the 50/200-day moving averages respectively. The ChiNext(399006) gained 1.22%, at about +0.45% and +19.40% from the 50/200-day moving averages respectively. In Hong Kong, the Hang Seng Index(HSI) rose slightly by 0.03%, with the final day’s volume up by around 7.58%, still above the 50/200-day moving averages. Overseas markets are affecting risk appetite: currently, the Nasdaq Composite(0NDQC) fell by -1.88% and the S & P 500 Index(0S&P5) by -1.44% this week, with their final day volumes up by +5.53% and +23.86% compared to their 50-day averages, both still above the 200-day moving averages but experiencing short-term volatility.
Overseas macro data shows a combination of “employment resilience remains, consumption marginally weakens, energy inventories unexpectedly rise.” Initial jobless claims in the U.S. for the week ending February 7 were 227,000 (expected 222,000, previous 232,000), showing no significant deterioration in employment; the unemployment rate in January was 4.3%, with non-farm payroll additions of 130,000 (expected 70,000). Employment exceeded expectations while retail sales grew by 0% month-over-month (expected 0.4%), indicating moderate consumer spending momentum. Energy-wise, EIA crude oil inventories increased by +8.53 million barrels this week (expected +793,000 barrels, previous -3.455 million barrels), suggesting a temporary supply expansion that might suppress oil price elasticity. Policy-wise, the upper limit of the federal funds rate remains unchanged at 2%, with monetary policy not rushing to ease, making market pricing on the rate cut path more dependent on subsequent inflation and growth data. Under this context, the valuation and capital expenditure expectations of U.S. growth sectors are rebalancing, causing short-term spillover disturbances on A-shares’ growth style sentiment.
Domestically, the policy environment continues to tilt towards “stabilizing growth, expanding domestic demand, and strengthening industries.” On the monetary side, the central bank conducted a CNY 1 trillion outright reverse repo operation and implemented a CNY 31.14 billion 7-day reverse repo during the special Spring Festival period, clearly stating “continuing to implement moderately accommodative monetary policy and flexibly using tools such as reserve requirement ratio cuts and interest rate reductions,” which supports liquidity, with credit and interest rate centers expected to steadily decline. On the industrial side, it explicitly promotes AI technological innovation and “AI+” applications in four key tasks of central enterprises, with eight departments promoting AI in bidding fields, accelerating the construction of the Shanghai metropolitan area and unified national electricity markets, implementing anti-monopoly guidelines for public utilities to improve marketization and efficiency, defining ten key tasks for low-altitude economy, implementing tax benefits for cross-border e-commerce returns, and holding an automotive industry symposium convened by the Ministry of Commerce to promote auto circulation and consumption.
On the statistical front, adjustments to the CPI calculation include new consumption categories like dishwashers and medical aesthetics, providing a more accurate reflection of structural consumption upgrades. In technology and industry chains, the launch of the “AI large model satellite” boosts expectations for satellite internet and computing power applications; the continued appreciation of the RMB improves foreign capital inflows and reduces import costs, positively impacting consumption and travel-related sectors. Geopolitically, external uncertainties persist, but policies and industrial resilience provide structural support for A-shares.
Industry performance-wise, this week saw clear preferences for service consumption and existing improvement chains, with three sectors leading gains: Bldg-Maintenance & Svc(G7340IG.CN) industry rose by about 10.49%, aligning with “housing renovation supported by housing provident funds,” advocating for ready-built property sales, and the direction of “urban renewal and stock transformation,” boosting order recovery through structural repairs and interior decoration demands. Unified power markets and public utility anti-monopoly measures enhance the quality of public service provision, extending home and community services into county-level and lower-tier cities. Leisure-Movies & Related(G7810IG.CN) industry rose by about 9.25%, benefiting from high box office revenues and attendance during the Spring Festival period, with channel ticket subsidies and improved content offerings enhancing single-screen capacity and utilization rates. The addition of service categories in the CPI reflects statistical improvements in consumption upgrades and service penetration, with policy-level “red envelope rain” and local consumption promotion initiatives increasing demand for offline entertainment. Computer-Data Storage(G3578IG.CN) industry rose by about 9.06%, driven by AI computing power expansion, server shipments, and edge cloud demand, boosting the prosperity of SSD/HDD, controllers, and material chains (such as high-end fiberglass cloth). The construction of a unified national power market and the advancement of “AI+” applications improve the economics of computing power supply, with satellite internet and data center interconnections demanding high-reliability storage.
Portfolio and individual stocks-wise, the top 33 averaged a gain of +2.97% this week, with 18 rising and 15 falling, featuring structural repair and style rotation.Grace Fabric Technology(603256) performed best with a weekly increase of +34.79%, having an O’Neil Score of 73, RS Rating of 99, EPS Rating of 90, Acc/Dis Rating of A+, and an industry rating of 33. The company focuses on electronic-grade fiberglass fabric, benefiting from AI computing power, servers, automotive electronics, and satellite internet application penetration, supporting relative strength through enhanced order visibility and technological iteration. Strategies should focus on sustained volume and effective buying points, avoiding chasing highs without follow-through days.
Maintain moderate positions under the “rebound attempt” environment, gradually increasing positions based on volume and price confirmation. Focus on policy and industrial catalysts, combining breakout volume and institutional follow-up as triggers for position increases, setting a risk control range of 5%-8%. Volatility in overseas growth sectors and changes in oil inventory may still disturb risk appetite, but under domestic moderate easing and industrial upgrading, targets with high earnings certainty, leading industry strength, and healthy formations are more likely to receive continuous attention from capital.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.
published on February 13, 2026