11月10日，A股和港股的消费板块联袂大涨。A股方面，白酒、航空运输、免税等表现出色，中国 中免A股封住涨停，封单5.03亿元，舍得酒业(600702)、酒鬼酒(000799)、三元股份(600429)、庄园牧场 (002910)等多股涨停；港股方面，截至收盘，沪上阿姨涨超13%，蜜雪集团涨近9%，泡泡玛特涨超 8%，卫龙美味、奈雪的茶、茶百道等个股跟涨。 11月10日，随着众多利好消息披露，A股与港股消费板块齐齐上涨，无论是传统消费的白酒、旅 游、零售，还是新消费中潮玩、茶饮等均有出色表现，颇具代表性的中国中免更是久违涨停，股价创下 两年来新高。 因缺席了本轮科技行情，且连续多个季度未有明显起色，被投资者戏称为"老登股"的白酒、免税等 板块已经远离投资焦点许久，且在三季度内，公募基金对传统消费板块以及新消费板块的操作均出现了 分化。当下，多名关注消费板块的基金经理认为，消费板块调整许久的估值为投资提供了安全边际，且 在个股的遴选中，基金经理将思路锁定在内需与出海两方面。 消费股集体上涨 消息面上，多重利好推动消费板块上涨。 11月7日，财政部发布2025年上半年中国财政政策执行情况报告，将继续实施好提振消费 ...

投资快报记者 张厚培 广州报道 本报讯 11月10日，A股三大指数走势分化，沪指再度站上4000点整数关口。截至收盘，沪指涨0.53%， 深证成指涨0.18%，创业板指跌0.92%。行业板块方面，前期热门的半导体、人工智能等赛道集体回 调，而白酒、旅游酒店、机场航空等被投资者戏称为"老登"的传统板块则直线拉升，舍得酒业、中国中 免等多股涨停，贵州茅台涨幅超过2%。 中信建投证券研报指出，A股正步入景气验证关键期。该阶段指数仍将震荡上行，但涨幅可能放缓，经 济基本面的改善与新兴产业业绩释放将消化部分高估值。在此期间，市场可能出现风格切换，估值偏高 而增速预期下调的板块或面临调整，基本面预期改善的品种有望领跑，景气投资风格将更占优势。该机 构同时提醒，尽管科技成长仍是逻辑最顺的方向，但也需警惕其结构性及阶段性回调风险。 机构热议"老登"与"小登" 大消费板块的崛起，尤其是白酒股的强势表现，使"老登"再度成为市场焦点。投资快报记者注意 到，"老登"一词在A股走红源于今年9月初。当时，一家机构分析师怀疑市场对中际旭创2027年250亿元 的利润预测"只存在于EXCEL表里"，旋即引来了另一家机构分析师在朋友圈回怼"买 ...

（A股动态） 11月10日，A股酿酒板块走高。截至发稿，舍得酒业、会稽山涨停。酒鬼酒涨幅超8%，泸州老窖涨幅超7%。古井贡 酒、山西汾酒涨幅超5%。今世缘、水井坊、金种子酒、五粮液涨幅超3%。燕京啤酒、惠泉啤酒涨幅超2%。 ...

截至11月10日收盘，白酒板块（BK0896）报收2349.92，涨幅高达2.92%，其中舍得酒业 （600702.SH）、酒鬼酒（000799.SZ）等个股涨停，泸州老窖（000568.SZ）、古井贡酒 （000596.SZ）、山西汾酒（600809.SH）等多只个股涨幅超过6%。 对此，白酒分析师肖竹青对南都湾财社记者表示，行业正处于"加速探底、持续出清"阶段，股价反弹更 多属于"政策预期+估值修复"。酒业分析师蔡学飞则对记者表示，经过长期的调整，今天白酒板块的集 体爆发，主要是受到政策利好释放、行业底部复苏预期增强以及积极宏观数据的共同催化。 | 护保泉市场 | | 香港市场 | 奥国市场 | 英国市场 | 全球指数 | | 股转系统 | 删权声援 | 周良现货 | 外汇 | | | | | T F | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 治深综合 | | 深東A股 ▼ | 创业板 * | 科创板 ~ | CDR | 沪深指数 ~ | | 白 ...

Group 1: Market Performance - The food and beverage sector has shown strong performance, leading the market with a 3.64% increase in the food ETF (515710) as of the close on November 10 [1][3] - Major liquor stocks experienced significant gains, with Shede Liquor and Jiu Gui Liquor hitting the daily limit, and Luzhou Laojiao rising by 8.23% [1][3] Group 2: Capital Inflow - The food and beverage sector attracted over 10 billion CNY in net inflows from main funds in a single day, ranking first among 30 sectors [3][4] - The food ETF (515710) has seen a net inflow of over 1.2 billion CNY in the last five trading days and more than 2.4 billion CNY in the last ten trading days [4][5] Group 3: Valuation and Investment Opportunities - The valuation of the food and beverage sector is currently at a historical low, with the food ETF's underlying index PE ratio at 20.59, indicating a good entry point for long-term investments [6][7] - Analysts suggest that the food and beverage industry is gradually bottoming out, with opportunities to invest in liquor stocks at low prices [7][8]

Group 1: Market Performance - The "big consumption" sector in the A-share market has seen a significant rise, with the CSI Consumer Index increasing by 3.38%, marking the largest single-day gain since the second half of the year [1] - The liquor sector led the gains, with the CSI Liquor Index rising by 5.05% [1] - Several consumer stocks, including Shede Spirits and Kweichow Moutai, reached their daily limit up [1] Group 2: Economic Indicators - The National Bureau of Statistics reported a 0.2% month-on-month and year-on-year increase in the Consumer Price Index (CPI) for October 2025 [1] - Analysts suggest that the October CPI data reflects a steady enhancement of economic vitality and the release of domestic demand potential, predicting a moderate increase in CPI for the fourth quarter [1][2] Group 3: Policy Implications - The Ministry of Finance plans to implement more proactive fiscal policies, including special actions to boost consumption and provide financial subsidies for personal consumption loans [2] - The upcoming traditional consumption peaks, such as "Double 11" and the Spring Festival, are expected to significantly enhance consumer sentiment and corporate performance [2] Group 4: Industry Outlook - The food and beverage sector has underperformed the market since early 2025, but expectations for recovery are rising as the macroeconomic environment improves [3] - The liquor industry is currently in a deep adjustment phase, with demand declining and companies focusing on inventory reduction for long-term health [3] - Analysts recommend gradually increasing positions in the liquor sector, particularly in companies showing signs of performance recovery [3]

Market Overview - A-shares showed mixed performance on November 10, with the Shanghai Composite Index rising 0.53% to 4018.6 points, while the ChiNext Index fell 0.92% to 3178.83 points, and the Shenzhen Component Index increased by 0.18% to 13427.61 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 21,947 billion yuan, an increase of over 1,700 billion yuan compared to the previous day [1] Consumer Sector - The consumer sector experienced a strong rally, particularly in the liquor and food & beverage stocks, with companies like Shede Liquor and Jiugui Liquor hitting the daily limit [3][5] - Notable gains included Luzhou Laojiao rising over 8% and Gujing Gongjiu and Shanxi Fenjiu increasing over 6% [3][4] - Food and beverage stocks also surged, with companies like Huanle Jia and BaBi Foods hitting the daily limit, and others like MiaoKe LanDuo rising over 8% [5][6] Chemical Sector - The chemical sector was notably active, with strong performances in phosphate, organic silicon, and fluorine concepts, highlighted by Huasheng Lithium's 20% increase [7][8] - The chemical industry has faced declining profits for three consecutive years, but there are signs of recovery as companies respond to market conditions [8] Semiconductor Sector - The storage chip sector saw significant gains, with companies like ShenGong Co. and YingTang ZhiKong hitting the daily limit, and XiangNong XinChuang rising over 15% [10][11] - NAND flash memory prices have surged, with SanDisk raising contract prices by 50%, marking the third price increase this year [11][12] - The storage industry is entering an accelerated growth phase driven by increased demand in the AI era, with expectations of profit growth for domestic storage companies [12]

今日（11月10日），A股小幅震荡，主板市场表现较优，上证指数、深证成指、上证50、沪深300均以红盘报收，科技成长股略有调整，创业板指、科创 50、北证50均微幅飘绿。市场成交温和放大至2.19万亿元。 | 代码 | 名称 | 最新 | 涨幅 | | --- | --- | --- | --- | | 399001 | 深证成指 | 13427.61 | +0.18% | | 000001 | 上证指数 | 4018.60 | +0.53% | | 399006 | 创业板指 | 3178.83 | -0.92% | | 000016 | 上证50 | 3053.86 | +0.51% | | 000300 | 沪深300 | 4695.05 | +0.35% | 盘面上，酒店餐饮、休闲食品、医疗美容、白酒等板块涨幅居前，林业、工程机械、电机制造、风电设备等板块跌幅居前。 Wind实时监测数据显示，食品饮料行业获得逾100亿元净流入，医药生物获得逾72亿元净流入，基础化工获得逾61亿元净流入，商贸零售获得逾58亿元净 流入，非银金融、传媒、房地产等也获得超30亿元净流入。电力设备则遭主力资金净流出逾72亿元 ...

Market Overview - A-shares showed mixed performance on November 10, with the Shanghai Composite Index rising 0.53% to 4018.6 points, while the ChiNext Index fell 0.92% to 3178.83 points. The total trading volume in the Shanghai and Shenzhen markets reached 21,947 billion yuan, an increase of over 1,700 billion yuan compared to the previous day [1][2]. Consumer Sector - The consumer sector experienced a significant rally, with strong performances from liquor stocks. Notable stocks included Shede Liquor and Jiu Gui Liquor, which hit the daily limit, while Luzhou Laojiao rose over 8% [4][5]. - Food and beverage stocks also surged, with companies like Huanlejia and Ba Bi Foods reaching their daily limit. The sector is expected to recover as the economic environment improves, with a focus on innovation in categories, channels, and consumption scenarios [6][7]. Liquor Industry - The liquor industry has faced challenges this year due to slow domestic consumption recovery and tightening regulations. However, analysts predict that the second half of 2025 will mark a bottoming out for the industry, with expectations of a gradual recovery in 2026 [6][8]. - The current valuation of liquor stocks is considered attractive, providing opportunities for bottom-fishing as the market sentiment improves [6]. Chemical Sector - The chemical sector showed strong performance, particularly in phosphorus, organic silicon, and fluorine concepts. Companies like Huasheng Lithium and Dongyue Silicon Material saw significant gains, with Huasheng Lithium hitting a 20% limit up [8][9]. - The chemical industry has been under pressure for the past three years, but recent efforts to self-regulate and improve product supply-demand balance are expected to enhance profitability [9]. Semiconductor Sector - The storage chip sector experienced a robust rally, with companies like Shen Gong and Ying Tang Zhi Kong hitting their daily limit. The demand for NAND flash memory is expected to rise significantly, driven by the AI boom and limited supply-side capacity [12][14]. - Analysts predict that the storage industry will enter a sustained upcycle, with significant profit growth expected in the second half of 2025 as prices continue to rise [14].

Core Viewpoint - The liquor sector, particularly the baijiu stocks, has shown a significant recovery, with several companies reaching their daily price limits, indicating a positive market sentiment towards this segment [1][3]. Group 1: Market Performance - On November 10, baijiu stocks such as Shede Liquor, Jiu Gui Jiu, and Kweichow Moutai experienced a surge, with the baijiu sector index rising by 4.74% [1]. - The food and beverage sector, which includes baijiu, has been underperforming, down 3.03% year-to-date as of November 10 [3]. Group 2: Economic Indicators - The National Bureau of Statistics reported a 0.2% month-on-month increase in the Consumer Price Index (CPI) for October 2025, while the Producer Price Index (PPI) saw a 0.1% increase, marking the first rise of the year [3]. Group 3: Analyst Insights - Dongxing Securities noted a shift in market style, with funds moving from low-odds to high-odds sectors, suggesting that the food and beverage sector is transitioning from low to high win rates, particularly in the mass consumer goods segment [3]. - The baijiu sector is currently in a bottoming phase, with expectations of improving win rates as the fundamentals enhance, making it a favorable allocation choice [3]. - Open Source Securities highlighted that liquor manufacturers are managing inventory levels to support long-term health, although short-term reports are still in a clearing phase [3].