TF Securities(SH:601162) Sou Hu Cai Jing·2025-12-10 06:58Group 1 - The market experienced fluctuations after reaching a new high in November, maintaining a high-level consolidation phase [1] - The relationship between China and the US may further improve as leaders from both countries have resumed communication, with Trump indicating a visit to China next year [1] - Expectations for a Federal Reserve interest rate cut in December have shifted, with several officials expressing dovish sentiments, potentially improving market liquidity [1] Group 2 - There is a significant increase in the issuance of new equity funds and a notable rise in the number of new institutional accounts, indicating improved micro-level liquidity [1] - The proportion of insurance capital allocated to equity assets has increased significantly, and the decline in trading pulse indicators has narrowed, suggesting a brewing new trading pulse [1] - The domestic economy may be in a recovery phase, with ongoing narratives around artificial intelligence supporting a positive market outlook [1] Group 3 - It is suggested to focus on representative broad-based indices, prioritizing the CSI A500 ETF (159338) and the SSE Composite Index ETF (510760) to better navigate the anticipated high volatility in the market [1]