Xin Lang Cai Jing·2025-12-28 09:14Market Overview - On Friday, December 26, the A-share market experienced a slight upward fluctuation after encountering resistance, with the Shanghai Composite Index facing resistance near 3977 points [2][4] - The aerospace, photovoltaic equipment, battery, and non-ferrous metals sectors performed well, while the liquor, medical devices, power equipment, and semiconductor sectors showed weaker performance [2][4] - The ChiNext Index mirrored the main board's performance, showing a similar upward trend throughout the day [4] Future Market Outlook and Investment Recommendations - The average price-to-earnings ratios for the Shanghai Composite Index and ChiNext Index are 16.27 times and 50.30 times, respectively, which are above the median levels of the past three years, indicating suitability for medium to long-term investment [2][6] - Total trading volume on Friday reached 21,813 billion yuan, above the median of the past three years [6] - The recent Central Economic Work Conference maintained a positive macro policy tone, shifting focus from total expansion to a balance of quality and sustainability [6] - Key future industries highlighted include artificial intelligence, commercial aerospace, quantum technology, and 6G, which are expected to be clear directions for medium to long-term investment [6] - It is anticipated that the Shanghai Composite Index will consolidate around the 4000-point mark due to various factors, including funding disturbances and policy expectations [2][6] - Short-term investment opportunities are recommended in the aerospace, photovoltaic equipment, non-ferrous metals, and battery sectors [2][6]