Xin Lang Cai Jing·2025-12-08 00:36Market Performance - On December 5, 2025, the A-share market saw all three major indices close higher, with the Shanghai Composite Index at 3902.81 points, up 0.7%, the Shenzhen Component Index at 13147.68 points, up 1.08%, and the ChiNext Index at 3109.3 points, up 1.36%. Over 4300 stocks rose, with total trading volume reaching 1.73 trillion yuan, an increase of 170 billion yuan from the previous trading day [1] - The Hong Kong stock market also closed positively, with the Hang Seng Index rising 0.58% to 26085.08 points and the Hang Seng Tech Index up 0.84% to 5662.46 points, with a total trading volume of 210.47 billion HKD [1] - In the U.S. stock market, all three major indices closed higher but did not reach historical highs, with the S&P 500 up 0.19% to 6870.4 points, the Nasdaq Composite up 0.31% to 23578.13 points, and the Dow Jones Industrial Average up 0.22% to 47954.99 points [1] New Stock Offerings - Two new stocks are available for subscription today: - Nabai Chuan (创业板, code 301667) with an issue price of 22.63 yuan per share and a price-to-earnings ratio of 28.7. The company focuses on thermal management products for new energy vehicle batteries and has leading market positions in China, serving major manufacturers like Tesla and NIO [2] - Youxun Co., Ltd. (科创板, code 688807) with an issue price of 51.66 yuan per share and a price-to-earnings ratio of 60.27. The company specializes in high-speed transceiver chips for optical communication and provides solutions for various sectors including 5G and data centers [2] Regulatory Updates - The Financial Regulatory Bureau has announced adjustments to the risk factors related to stock investments by insurance companies to enhance their role as patient capital. This includes adjustments to risk factors for investments in stocks and export credit insurance, encouraging insurance companies to support foreign trade enterprises and improve long-term investment management capabilities [3] - The National Healthcare Security Administration and the Ministry of Human Resources and Social Security have issued a new drug directory for basic medical insurance, maternity insurance, and work injury insurance, effective January 1, 2026. The new directory will replace the previous version and requires strict adherence by local authorities [4]