午评：主要股指高开后震荡上扬 消费电子股涨幅靠前

Market Performance - The three major stock indices in Shanghai and Shenzhen opened higher on December 1, with the Shanghai Composite Index rising by 0.42% to 3904.90 points and a trading volume of approximately 510.1 billion yuan [2] - The Shenzhen Component Index increased by 0.95% to 13106.95 points, with a trading volume of about 716.6 billion yuan, while the ChiNext Index rose by 0.90% to 3080.16 points, with a trading volume of around 339.9 billion yuan [2] - The market showed mixed performance, with sectors such as non-ferrous metals, gold, and media entertainment leading the gains, while transportation equipment and multi-financial sectors faced declines [1] Institutional Insights - CITIC Securities suggests that despite potential short-term volatility, any downturn could present better investment opportunities, recommending a focus on strategic positioning ahead of the year-end market [3] - Huatai Securities anticipates improvements in fundamental expectations and macro liquidity in December, suggesting a balanced allocation between growth and cyclical sectors, particularly in aviation equipment and AI-related energy storage [3] - China Galaxy Securities emphasizes the importance of defensive sector allocations amid year-end style rotations, highlighting key areas such as artificial intelligence, new energy, and manufacturing sector recovery [4] Policy Developments - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes the need for strategic and professional restructuring, advocating for the merger of similar entities to enhance efficiency and avoid redundant competition [5]