收评：北证50指数逆市大涨近4% 商业航天、特高压概念等活跃

Market Performance - The three major stock indices experienced fluctuations, with the Shenzhen Component Index and ChiNext Index both declining over 1%, while the North Stock 50 Index surged over 6% at one point [1] - By the end of trading, the Shanghai Composite Index fell by 0.7% to 3873.32 points, the Shenzhen Component Index dropped by 1.27%, the ChiNext Index decreased by 1.41%, and the North Stock 50 Index rose by 3.84% [1] - The total trading volume across the Shanghai, Shenzhen, and North Stock markets reached 188.55 billion yuan [1] Sector Performance - Sectors such as real estate, retail, textiles and apparel, food and beverage, and liquor saw declines, while new stocks, controllable nuclear fusion, commercial aerospace, and ultra-high voltage concepts were active [1] Policy Outlook - Dongguan Securities indicated that as the 14th Five-Year Plan begins, the transition from old to new growth drivers is entering a critical phase, with strong demands for transformation and growth expected to continue into next year [1] - The need for policies to balance short-term and long-term goals is emphasized, with a focus on preparing for future risks and challenges [1] - The return to a cross-cycle policy perspective suggests a greater emphasis on long-term policy views, with specific measures to be closely monitored in the upcoming Central Economic Work Conference [1] - In terms of investment strategy, the end of the year and the beginning of the new year typically favor financial and value styles, which also have protective attributes; attention should also be given to cyclical sectors and specific technology subfields that may benefit from the Central Economic Work Conference [1]