Nvidia(US:NVDA) Mei Ri Jing Ji Xin Wen·2025-11-17 20:30Core Viewpoint - The A-share market experienced volatility this week, with several major indices showing a downward trend, indicating a shift in market style towards small and low-priced stocks while growth stocks, particularly in the AI sector, faced challenges [1][4][5]. Market Performance - The micro-cap stock index rose by 3.16% over the week, while the Shanghai Composite Index remained flat, and the Guozheng 2000 Index slightly declined by 0.13% [1]. - The ChiNext Index and the Sci-Tech 50 Index, which had previously led the market, fell over 3% this week, marking them as the weakest performers [1]. Market Sentiment and Trends - The market is currently characterized by a "strong at both ends, weak in the middle" phenomenon, with a notable shift in focus towards small-cap and low-priced stocks [1][7]. - The recent performance of the A-share market reflects a broader trend where small and low-priced stocks are gaining traction, while growth stocks lack catalysts due to a performance vacuum during the year-end period [2][3]. Key Events and Indicators - The upcoming earnings report from NVIDIA on November 20 is anticipated to significantly influence the direction of AI stocks, as the market seeks confirmation of strong AI chip orders [6]. - Additionally, Huawei's announcement of a breakthrough technology in AI on November 21 is expected to enhance the utilization of computing resources, which could impact market sentiment [6]. Sector Focus - Defensive sectors, particularly those related to energy supply and heating, are expected to attract investment as winter approaches, with coal and gas supply stocks likely to see increased interest [7]. - The lithium battery and energy storage upstream sectors are also highlighted, with recent price increases in several products drawing attention from investors, although caution is advised against chasing high prices [8]. Summary of Market Outlook - The market is currently in a state of flux, with a critical focus on the performance of the Sci-Tech 50 Index. A rebound could lead to upward movement in the broader market, while a breakdown may increase volatility [8]. - The ongoing trend of speculation in small-cap and thematic stocks is expected to continue, with particular attention on sectors like national defense and emerging concepts [7][8].