Institution: The A-share market has a significant Chinese New Year "calendar effect," holding stocks during the holiday may be a better choice

The A-share market is about to welcome the last trading week before the Spring Festival holiday. Many research institutions believe that there is a significant "calendar effect" for the Spring Festival in the A-share market, and holding stocks during the holiday may be a better choice. GF SECURITIES stated that historical experience shows that February and the period around the Spring Festival are the strongest phases of the "spring excitement" calendar effect, with a high market win rate and a preference for small-cap styles. At the current level of around 4000 points for the Shanghai Composite Index, investors are advised to regain confidence, regroup, and prepare for the first wave of the Lunar Year of the Horse's upward cycle.

DongWu Securities believes that the factors suppressing the market will gradually weaken, and combined with the Spring Festival "calendar effect," the market is expected to start rebounding, with the trend likely to continue for several trading days after the holiday. Therefore, investors are advised to hold stocks during the holiday. In terms of allocation direction, attention can be paid to the technology sector that has been excessively priced during this round of adjustment, including semiconductor equipment, storage chips, computing communication, and cloud computing.

Guosen Securities believes that holding stocks during the holiday may be the best strategy. Reviewing historical data, the probability of the Shanghai Composite Index rising in the week before the Spring Festival is 81%, with an average increase of 1.8%; the probability of rising in the week after the holiday is 76%, with an average increase of 1.3%. Since mid-January, A-shares have been fluctuating sideways, with increased volatility in the past week, but the market is still in an upward trend, and there is still room for further development in this round of spring market.

China Galaxy Securities suggests that investors "lightly hold stocks during the holiday," believing that "it avoids the volatility risk of market contraction adjustments before the holiday while retaining the opportunity to participate in the spring market after the holiday." (Shanghai Securities Journal)