A股开盘速递 | 三大股指开盘涨跌不一 有色金属板块表现活跃

Market Overview - The three major A-share indices opened mixed, with the Shanghai Composite Index up 0.08% and the ChiNext Index down 0.11% [1] - The non-ferrous metals sector showed active performance, while sectors such as military, commercial aerospace, and cultivated diamonds experienced the largest declines [1] Institutional Insights - CITIC Securities believes that with increasing incremental funds primarily being stable left-side funds, A-shares and Hong Kong stocks may exhibit a "sharp drop and slow rise" pattern similar to U.S. stocks in the future. This presents an opportunity for investors to reallocate to A-shares and Hong Kong stocks as they prepare for 2026 [1] - Dongfang Caifu Securities notes that due to calendar effects and institutional behaviors, recent incremental funds have shifted from a third-quarter consensus to divergence, leading to a slowdown in net inflows. As December approaches, the inflow effect is expected to strengthen again, potentially allowing for an early spring market rally [1] - Guotai Junan Securities is optimistic about the prospects of the Chinese market, stating that the indices are entering a favorable zone. They emphasize that opportunities often arise from panic, and the Chinese stock market is expected to gradually stabilize and launch a year-end offensive, indicating significant upward potential and a good time for accumulation [1] Sector Focus - The volatility in U.S. AI stocks and Google's new highs are seen as a structural shift in AI rather than a trend termination, with China expected to experience a period of policy, liquidity, and fundamental resonance from December to February. Following market adjustments, there is a gradual increase in offensive positioning [1] - There is a positive outlook on themes such as AI applications, robotics, domestic consumption, and Xinjiang infrastructure [1]