Jin Rong Jie·2025-12-22 09:46Market Overview - A-shares experienced a collective rise with nearly 4,500 stocks closing in the green, and the trading volume reached 1.73 trillion yuan, an increase of 704 billion yuan from the previous day [1] - The Shanghai Composite Index has shown three consecutive days of gains, recovering the 10-day and 20-day moving averages, with a key resistance level at approximately 3,912 points [1] - Analysts noted that the recent U.S. employment and CPI data, along with Japan's interest rate hike, have reduced external uncertainties for A-shares, shifting market focus to internal factors [1] Sector Performance - The "anti-involution" theme continues to perform well, with the Chemical ETF (516020) and the Precious Metals ETF (159876) seeing price increases of 1.75% and 1.64% respectively [1] - The Chemical ETF attracted 228 million yuan in a single day, indicating strong investor confidence in the chemical sector's future performance [1] Hong Kong Market Insights - The Hong Kong market is expected to rebound as the U.S. CPI data boosts market confidence and expectations for a Fed rate cut in January increase [1] - The Hong Kong Internet ETF (513770) has seen a net inflow of 1.33 billion yuan over the past ten days, while the Hong Kong Innovation Drug ETF (520880) has experienced nine consecutive days of net subscriptions, reaching a record high of 4.178 billion shares [1] Chemical Industry Outlook - China’s chemical industry is anticipated to see a bottoming out and gradual recovery, with improvements in supply-demand dynamics expected by 2025 [6] - The current valuation of the chemical sector is at a historical low, with the Chemical ETF (516020) trading at a price-to-book ratio of 2.4, indicating strong long-term investment potential [6][8] AI and Technology Sector Developments - The Hong Kong AI sector is experiencing a rebound, with major companies like Tencent and Meituan making significant advancements in AI technology [11] - The AI application market is expected to thrive, with the launch of new models and applications driving demand, particularly in the light of increasing AI-related hardware needs [15][16] Investment Strategies - Analysts recommend focusing on the "technology + cyclical" dual-driven strategy, highlighting opportunities in sectors such as defense, AI applications, and renewable energy [3] - The Chemical ETF (516020) is suggested as an efficient vehicle for gaining exposure to the chemical sector, given its diversified holdings in leading companies [8][9]