Venture(US:VEMLY) Jin Rong Jie·2025-12-12 07:10Market Performance - The A-share market experienced slight declines in the morning but rebounded in the afternoon, with the Shanghai Composite Index rising by 0.41% to 3889.35 points, the Shenzhen Component Index increasing by 0.84% to 13258.33 points, and the ChiNext Index up by 0.97% to 3194.36 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.09 trillion yuan, with the number of advancing and declining stocks nearly balanced [1] Sector Highlights - The commercial aerospace sector continued to show strength, with nearly 20 stocks hitting the daily limit, including companies like Hualing Cable and Zhongchao Holdings [1][3] - The controllable nuclear fusion concept gained traction, with stocks such as Xue Ren Group and Guo Ji Heavy Industry hitting the daily limit, driven by predictions of a global nuclear fusion market size approaching 500 billion USD by 2030 [1][4] - The precious metals sector saw significant gains, with companies like Zhao Jin Gold rising nearly 8%, supported by the Federal Reserve's recent interest rate cut and low silver futures inventory [1][2] - The semiconductor equipment sector remained active, with stocks like Yaxiang Integration hitting historical highs [1] Institutional Insights - According to招商证券, the market tends to favor large-cap stocks following the Central Economic Work Conference, with historical data showing that sectors like oil, telecommunications, and electronics have higher probabilities of rising in the week after the conference [5] - 国泰海通 anticipates that macroeconomic policies in 2026 will maintain a positive tone, focusing on counter-cyclical adjustments without excessive stimulus, with a projected fiscal deficit rate around 4% [6][7] - 广发证券 highlights that the new policy framework introduced in the recent conference emphasizes balancing supply and demand, enhancing quality while expanding total output, and investing in human capital alongside physical investments [8]