消息面上，摩根大通表示，房地产板块仍是主要风险点。市场未能实现"止跌回稳"，销售和投资持续下 滑。万科的境内债展期申请严重打击了市场情绪，引发了对私营开发商融资收紧的担忧。在此背景下， 分析师仅看好正在向租赁模式转型、拥有大量未抵押投资性物业的龙湖集团。 该机构建议投资者在中国信贷市场采取精选策略，首选基本面稳健且资产负债表强劲的TMT公司（如 阿里巴巴、微博）；对于国企，尽管利差收窄，但技术面支撑强劲，建议关注防御性标的（如中国化 工）；房地产板块因万科延期支付引发担忧，情绪脆弱，仅维持对正在向租赁模式转型的龙湖集团的增 持评级。 来源：金吾财讯 金吾财讯 | 内房股受挫，截至发稿，中国海外宏洋集团(00081)跌8.93%，中国金茂(00817)跌8.76%，绿 城中国(03900)跌5.45%，中梁控股(02772)跌5.13%，越秀地产(00123)跌3.19%，美的置业(03990)跌 3.02%，龙湖集团(00960)跌2.93%，旭辉控股集团(00884)跌2.69%，远洋集团(03377)跌2.65%，华润置地 (01109)跌2.53%。 其表示，房地产市场"止跌回稳"未在2025年实现，销 ...

Group 1 - The real estate sector in China is facing significant challenges, with major companies like China Overseas Grand Oceans Group and China Jinmao experiencing declines of 8.93% and 8.76% respectively [1] - Morgan Stanley indicates that the real estate sector remains a primary risk point, with ongoing declines in sales and investment, and the market has not achieved a "stop falling and stabilize" condition [1][2] - Vanke's application for domestic bond extension has severely impacted market sentiment, raising concerns about the tightening financing environment for private developers [1][2] Group 2 - Analysts are optimistic about Longfor Group, which is transitioning to a rental model and possesses a significant amount of unencumbered investment properties [1] - The recommendation for investors is to adopt a selective strategy in the Chinese credit market, favoring TMT companies with strong fundamentals and balance sheets, such as Alibaba and Weibo [1] - Despite narrowing spreads for state-owned enterprises, there is strong technical support for defensive stocks like China National Chemical Corporation [1]

（原标题："21万科02"，大涨！两次临停） "21万科02"盘中大涨。 今日（12月9日）11时许，深交所公告，"21万科02"（149358）盘中大涨超30%，自今日11时00分47秒 起对该债券实施临时停牌，于15时27分00秒复牌。 这是深交所今日第二次对"21万科02"实施临时停牌，稍早之前，深交所公告，"21万科02"（149358）盘 中成交价较前收盘价首次上涨达到或超过20%，自今日10时21分05秒起对该债券实施临时停牌，于10时 51分06秒复牌。 深交所行情数据显示，目前，"21万科02"涨30.62%，最新价为34.999元。 综合自：深交所公告 责编：万健祎 校对：杨立林 ...

Group 1 - Wanda's debt issues are drawing attention as the year-end approaches [2] - Wanda has confirmed that funds are in place for the repayment of a $300 million bond maturing in January, instilling confidence in the market [4] - The company is also working on extending another $400 million bond's maturity to 2028, indicating a strategy to optimize its debt structure [4][6] Group 2 - Wanda is ensuring rigid repayment to stabilize the market while simultaneously seeking to restructure its debt to gain time for transformation [6] - The company has communicated its funding arrangements to creditors, acknowledging that the bond extension will impact domestic banks' decisions on renewing loans, demonstrating sincerity [6] - Vanke, another major player, is facing pressure from creditors and will hold a meeting to discuss extending its medium-term notes, reflecting the deep adjustments within the real estate industry [8]

综合自：深交所公告 这是深交所今日第二次对"21万科02"实施临时停牌，稍早之前，深交所公告，"21万科02"（149358）盘中成交价较前收盘价首次上涨达到或超过20%，自 今日10时21分05秒起对该债券实施临时停牌，于10时51分06秒复牌。 深交所行情数据显示，目前，"21万科02"涨30.62%，最新价为34.999元。 "21万科02"盘中大涨。 今日（12月9日）11时许，深交所公告，"21万科02"（149358）盘中大涨超30%，自今日11时00分47秒起对该债券实施临时停牌，于15时27分00秒复牌。 （文章来源：证券时报） ...

责编：万健祎 校对： 杨立林 "21万科02"盘中大涨。 今日（12月9日）11时许，深交所公告，"21万科02"（149358）盘中大涨超30%，自今日11时00分47秒起对该债券实施临时停牌，于15时27分00秒复牌。 这是深交所今日第二次对"21万科02"实施临时停牌，稍早之前，深交所公告，"21万科02"（149358）盘中成交价较前收盘价首次上涨达到或超过20%，自今日10时 21分05秒起对该债券实施临时停牌，于10时51分06秒复牌。 深交所行情数据显示，目前，"21万科02"涨30.62%，最新价为34.999元。 综合自：深交所公告 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 重磅官宣！"港交所科技100"指数推出，"含科量"拉 满！ 丨 英伟达，突然拉升！ 丨 利好突袭！深夜暴涨！ 丨 603023，重大资产 ...

Core Viewpoint - The bond market is experiencing significant downturns, with many bond funds facing substantial declines, leading to cautious market sentiment and speculation about credit risks [2][5]. Group 1: Recent Performance of Bond Funds - A bond fund under Huachen Future Fund saw a weekly decline of over 7%, erasing nearly two years of accumulated returns, with a year-to-date return of -6.65% as of December 5 [3][4]. - Approximately 70% of bond funds in the market have experienced declines over the past month, with over 2,700 bond funds seeing net value decreases [5][6]. - The yield curve has steepened, with the 10-year and 30-year government bond indices dropping by 0.31% and 3.29% respectively in the past month [5]. Group 2: Market Reactions and Speculations - The decline in the Huachen Future Fund is linked to the collective drop in Vanke bonds, particularly after Vanke announced a meeting regarding the extension of its bonds, causing panic in the market [4][6]. - The market is speculating that the Huachen Future Fund may have been affected by Vanke's bonds, which have seen a price drop of over 70% since November 26 [4]. Group 3: Broader Market Trends and Influences - The bond market's downturn is attributed to a cooling of interest rate cut expectations and potential impacts from new sales regulations, which may increase redemption pressures on bond funds [6][7]. - The recent announcement of Vanke's bond extension has created emotional shocks in the bond market, affecting investor sentiment and expectations regarding the real estate sector [6][7]. Group 4: Future Outlook and Investment Opportunities - Despite the current downturn, there is still a broad demand for bond allocations, and investors are encouraged to look for opportunities following market adjustments [2][8]. - Analysts suggest that the bond market is transitioning into a phase characterized by low rates, low volatility, and low spreads, indicating a shift towards trading strategies that capitalize on market corrections [8][9].

每经AI快讯，12月9日，深交所公告，"21万科02"(149358)盘中大涨30%，自今日11时00分47秒起对该债 券实施临时停牌，将于15时27分00秒复牌。 ...

人民财讯12月9日电，深交所发布公告，"21万科02"(149358)盘中成交价较前收盘价首次上涨达到或超 过20%，根据有关规定，自今日10时21分05秒起对该债券实施临时停牌，于10时51分06秒复牌。 ...

万科境内债"21万科02"涨超30%，二次临停。 ...