The full year of 2025 was mainly played by technology stocks, while most of the remaining sectors had flat gains. Indices such as new and used consumption, public facilities, and real estate did not perform well. Not only was it difficult to find excess income, but many individual stocks even declined sharply, and individual themed funds also lost their net worth in a slow bull run. The market has reached the end of the year, and now it is time for the New Year's Eve layout. A number of fund managers pointed out that technology stocks may continue to take the lead in the market, but next year's market may be more balanced, with investment opportunities for companies that have been “snubbed” in the procyclical sector, consumer sector, etc.; in particular, some companies that have experienced supply-side reforms have benefited from the clean-up of the industry or may become a new direction for high-dividend assets.

The full year of 2025 was mainly played by technology stocks, while most of the remaining sectors had flat gains. Indices such as new and used consumption, public facilities, and real estate did not perform well. Not only was it difficult to find excess income, but many individual stocks even declined sharply, and individual themed funds also lost their net worth in a slow bull run. The market has reached the end of the year, and now it is time for the New Year's Eve layout. A number of fund managers pointed out that technology stocks may continue to take the lead in the market, but next year's market may be more balanced, with investment opportunities for companies that have been “snubbed” in the procyclical sector, consumer sector, etc.; in particular, some companies that have experienced supply-side reforms have benefited from the clean-up of the industry or may become a new direction for high-dividend assets.