华泰期货：沪指七连阳，涨价逻辑和科技有望再度成为市场主线

Core Viewpoint - The article emphasizes the importance of monitoring Sino-U.S. relations and highlights recent developments in China's economic policies and market performance, indicating a potential for continued market stability and growth in 2024 [2][8]. Group 1: Sino-U.S. Relations - The Ministry of Commerce of China firmly opposes the U.S. imposing 301 tariffs on Chinese semiconductor products and has raised serious concerns through the Sino-U.S. economic and trade consultation mechanism [2][8]. - China is actively promoting and facilitating compliant trade regarding export restrictions on rare earth magnets [2][8]. - The Chinese government aims for companies to reach solutions that align with Chinese laws and regulations concerning agreements signed by TikTok with investors [2][8]. Group 2: Capital Market Developments - The People's Bank of China proposed to utilize swap facilities and stock repurchase loans to maintain capital market stability, with plans to create two tools in October 2024, with initial quotas of 500 billion and 300 billion yuan respectively [2][8]. - As of December 25, the swap facility has been executed twice for a total of 105 billion yuan, while the upper limit for stock repurchase loans has reached 338.352 billion yuan [2][8]. Group 3: Market Performance - The A-share market indices showed a continued upward trend, with the Shanghai Composite Index rising 0.47% to close at 3959.62 points, marking seven consecutive days of gains [9]. - The trading volume in the Shanghai and Shenzhen markets increased to 1.92 trillion yuan, with various sectors experiencing mixed performance [9]. - In the futures market, the basis for stock index futures continued to recover, while the trading volume for stock index futures decreased, indicating an increase in IH positions [9][10]. Group 4: Future Strategies - The targeted tools introduced by the central bank are expected to provide significant support to the market, with continued policy strength anticipated in the coming year [10]. - The rapid expansion of the CSI A500 ETF is injecting incremental funds into the market, suggesting that price increase logic and technology may become the main themes in market trading [10].