长期向好趋势不改 北交所成交额进一步放大

Group 1 - The core viewpoint of the articles highlights the significant fluctuations in the North Exchange market, marking its first experience of a cycle of accumulation, rise, and decline since its establishment [1][2] - The North Exchange 50 Index saw a notable increase of 27.54% in November, with a trading volume of 173.998 billion yuan, followed by a decline of 6.72% in the first week of December, closing at 922.51 points with a trading volume of 94.232 billion yuan [1] - Analysts believe that the North Exchange plays a unique role in China's multi-tiered capital market system, connecting the Shanghai and Shenzhen stock exchanges with the New Third Board [1][2] Group 2 - The current market trend is characterized as a valuation recovery, closely linked to investor confidence and sentiment, with the North Exchange showing a high correlation with the Shanghai and Shenzhen markets [2] - The North Exchange's investor suitability requirements are similar to those of the Sci-Tech Innovation Board, with a larger fluctuation range compared to the Growth Enterprise Market, making it suitable for high-risk investors [2] - The North Exchange's overall return on equity (ROE) stands at 9.9%, which is higher than that of the Growth Enterprise Market and the Sci-Tech Innovation Board, while its price-to-book ratio (PB) is significantly lower [2] Group 3 - Starting in December, the North Exchange securities will be included in the CSI All Share Index sample space, which is expected to enhance liquidity [3] - The China Securities Regulatory Commission (CSRC) plans to enrich the North Exchange index system and support the launch of ETFs and other products to increase market liquidity [3] - Following its successful "out of the circle" phase, the North Exchange has gained significant attention, with institutions generally optimistic about its long-term prospects despite short-term corrections [3]