Group 1 - The 30-year government bond futures main contract closed down 0.86% on November 26, with the 30-year bond futures (TL2603) closing at 114.290 yuan, down 0.990 yuan [1] - The ETF market showed mixed results, with the communication ETF (515880) up 5.61%, communication equipment ETF (159583) up 5.54%, and the entrepreneurial AI ETF (159242) up 5.29% [1] - The China Securities Convertible Bond Index fell 0.85% to 480.94 points, while individual convertible bonds like Yingte and Haomei saw increases of 3.06% and 2.83% respectively [1] Group 2 - The chief strategist of China Galaxy Securities, Yang Chao, indicated that the A-share market will benefit from upward liquidity, with current valuations being relatively reasonable compared to global equity markets [2] - UBS's head of China equities, Shi Bin, noted that the innovation sector, including pharmaceuticals and AI, has been a major driver of market performance this year, and is expected to continue its robust growth [2] - Morgan Stanley's chief equity strategist for China, Wang Ying, highlighted increasing discussions around the long-term sustainability of stocks, which is a focus not only in China but globally [2]
四点半观市 | 机构：A股市场仍将受益于流动性向上逻辑
Shang Hai Zheng Quan Bao·2025-11-26 12:05