午评：沪指震荡涨0.24% 商业航天概念集体走强

Market Overview - The market is experiencing narrow fluctuations with all three major indices turning positive. The Shanghai Composite Index is at 3929.25 points, up 0.24%, with a trading volume of 465.9 billion yuan. The Shenzhen Component Index is at 13410.05 points, up 0.31%, with a trading volume of 682.8 billion yuan. The ChiNext Index is at 3207.59 points, up 0.08%, with a trading volume of 312.0 billion yuan [1] Sector Performance - Strong performance is noted in sectors such as military electronics, packaging and printing, and consumer electronics, while sectors like precious metals, insurance, liquor, and dairy are experiencing declines [1] - The commercial aerospace concept is gaining strength, with nearly 20 constituent stocks hitting the daily limit, including Chaojie Co. and Shenjian Co. [2] Institutional Insights - Jin Xin Fund indicates that the market is in a narrow fluctuation pattern, with clear mid-term policy and liquidity expectations following the Federal Reserve's interest rate decisions and the Central Economic Work Conference. A classic "cross-year-spring" market trend is developing, supported by increased institutional investment and a stable economic recovery [3] - Rongzhi Investment notes that the cross-year market has begun, driven by sufficient market adjustments, increased capital inflow, and positive policy expectations for the upcoming year. The focus remains on technology stocks, particularly in AI and new energy sectors [4] Dairy Industry Update - The EU's anti-subsidy investigation results indicate that China will impose anti-subsidy tax guarantees on six categories of dairy products from the EU, with rates ranging from 28.6% to 42.7%. This is expected to boost domestic demand and accelerate the localization of supply chains for cheese and cream products [5] Energy Consumption Data - The National Energy Administration reports that in November, total electricity consumption reached 835.6 billion kWh, a year-on-year increase of 6.2%. The primary industry saw a 7.9% increase, while the secondary industry grew by 4.4%, and the tertiary industry experienced a 10.3% increase [6] Liquor Pricing Update - The price of 25-year-old Feitian Moutai has risen, with the original box price reported at 1600 yuan per bottle, an increase of 40 yuan from the previous day. The price for the 24-year-old version is also up, with the original box priced at 1630 yuan [7][8]