Zheng Quan Shi Bao·2025-12-15 09:38Market Overview - On December 15, major A-share indices collectively declined, with the ChiNext Index and STAR 50 Index accelerating their downward trend in the afternoon [1] - The Shanghai Composite Index fell by 0.55% to 3867.92 points, the Shenzhen Component Index dropped by 1.1%, the ChiNext Index decreased by 1.77%, and the STAR 50 Index fell by 2.22% [1] - Total trading volume in the Shanghai and Shenzhen markets was 1.7945 trillion yuan, a decrease of over 320 billion yuan compared to the previous day [1] Sector Performance Insurance Sector - The insurance sector showed strong performance, with China Ping An rising approximately 5%, reaching a new high in over four years, and China Pacific Insurance increasing by 3.5% [3][4] - Analysts suggest that the insurance sector is entering a recovery phase, supported by regulatory policies and a reduction in product pricing pressures [4] - The sector is expected to benefit from stable interest rates and improving asset performance, with projections indicating a potential valuation recovery towards 1x PEV by 2026 [4] Retail Sector - The retail sector was notably active, with several companies such as Baida Group and Dongbai Group hitting the daily limit up [6][8] - The total retail sales of consumer goods from January to November increased by 4% year-on-year, surpassing both the previous year's growth and the annual growth rate [8] - The Ministry of Commerce plans to enhance policy support for the retail industry, focusing on quality-driven and service-driven development [8] Dairy Industry - The dairy sector also performed well, with companies like Huanlejia and Huangshi Group reaching their daily limit up [9] - The industry is expected to benefit from policy stimuli aimed at improving consumer confidence and demand, alongside a trend towards deep processing of dairy products [9] AI Industry - The AI industry saw a significant pullback, with companies like Tengjing Technology and Shijia Photon dropping over 10% [11] - Despite the recent decline, analysts remain optimistic about the AI computing power sector, anticipating continued demand and infrastructure deployment in China [12][13]