投资前瞻（12.15-12.19）丨A股重要指数调样生效；摩尔线程将举办首届MUSA开发者大会

Macro and Financial - The Central Economic Work Conference has set the focus for 2026, emphasizing the use of various government bond funds and the issuance of ultra-long special bonds to support key construction and new initiatives [2] - The People's Bank of China will continue to implement a moderately loose monetary policy, enhancing both stock and incremental policy effects to stimulate domestic demand and optimize supply [2] - The Ministry of Commerce, the People's Bank of China, and the Financial Regulatory Bureau have jointly issued measures to boost consumption, including enhancing collaboration mechanisms and increasing financial support in key areas [3] - The Federal Reserve maintained the federal funds rate target range at 3.50%-3.75%, with internal divisions on whether to lower rates due to inflation concerns [3] - Global asset prices showed divergence, with gold prices rising by 2.5% to $4302 per ounce, while WTI crude oil fell by 4.39% to $57.44 per barrel [4] Capital Market - A-shares showed a weak recovery with a structural market, as the Shanghai Composite Index rose by 0.5%, led by sectors like controlled nuclear fusion and commercial aerospace [6] - The Hong Kong stock market faced pressure, with the Hang Seng Index dropping by 1.8%, particularly affected by technology stocks [6] - U.S. stock indices experienced a decline, with the Dow Jones falling by 0.51% and the S&P 500 down by 1.07% [6] - The upcoming week will see the release of significant economic data from China, including retail sales and industrial output [5] Commercial Industry - China's commercial aerospace sector is accelerating towards large-scale application, with significant technological breakthroughs and policy support, projecting a market size of over 2.5 trillion yuan by 2025 [9] - The State Administration for Market Regulation is seeking to standardize pricing behaviors in the automotive industry to ensure fair competition and protect consumer rights [9] - The new medical insurance and commercial insurance directories will include 114 new drugs, with a high negotiation success rate for innovative drugs [10] - The Hainan Free Trade Port will officially start its operations on December 18, allowing for zero tariffs on certain imports [11]