Venture(US:VEMLY) Xin Lang Cai Jing·2025-12-04 15:41Market Overview - The three major indices in the Shanghai and Shenzhen markets showed mixed performance, with total trading volume decreasing to 1.56 trillion yuan [1][7] - The ADP employment report for November indicated a decrease of 32,000 jobs, marking the largest decline in two and a half years, which was significantly below the expected increase of 10,000 jobs [2][8] - The probability of the Federal Reserve cutting interest rates by 25 basis points in December is close to 90%, as indicated by CME's FedWatch tool, further reinforcing market expectations for a dovish stance [2][8] Policy Developments - The State-owned Assets Supervision and Administration Commission (SASAC) held a meeting to promote value creation actions among state-owned enterprises, emphasizing the importance of strategic safety, industry leadership, and comprehensive support [2][3][9] - The approval of the Yangtze River Delta Spatial Planning (2023-2035) marks a new phase in regional integration, focusing on urban agglomeration and enhancing Shanghai's leading role [3][9] Market Performance - As of December 4, the Shanghai Composite Index closed at 3,875.79 points, down 0.06%, while the Shenzhen Component Index rose by 0.40% to 13,006.72 points, and the ChiNext Index increased by 1.01% to 3,067.48 points [4][10] - The market saw 1,446 stocks rise and 3,667 stocks fall, indicating a challenging environment for many equities [10] Capital Flow - The market turnover was reported at 15,617.68 billion yuan, showing a decline compared to the previous trading day [5][11] - The margin trading balance was recorded at 24,825.92 billion yuan, also down from the previous day [11]