Jin Rong Jie·2026-01-05 03:48Market Performance - The A-share market experienced a significant increase, with the Shanghai Composite Index recovering above 4000 points, closing at 4011.45, up 1.07% [1] - The Shenzhen Component Index rose by 1.87% to 13777.32, while the ChiNext Index increased by 2.15% to 3272.07 [1] - The total trading volume in the Shanghai and Shenzhen markets reached 16357.79 billion, with over 4000 stocks rising [1] Sector Highlights - The insurance sector led the market, with stocks like New China Life Insurance rising over 8%, reaching a historical high [3] - The insurance industry reported a total premium income of 57629 billion for the first 11 months of 2025, a year-on-year increase of 7.6% [3] - The semiconductor sector saw a collective surge, with stocks like Jiangbolong rising over 14% due to a worsening DRAM supply shortage, with contract prices expected to rise by up to 50% in Q1 2026 [3] - The innovative drug sector was active, with stocks like Guanhao Bio hitting the daily limit, supported by the approval of 76 innovative drugs in 2025, a historical high [3] Analyst Insights - CITIC Securities highlighted that balancing external and internal demand will be a major expectation for 2026, suggesting a trend towards taxing external demand and subsidizing internal demand [4] - Huatai Securities noted that overseas Chinese stocks' performance positively impacts investor sentiment, although geopolitical issues may create short-term volatility [4] - CITIC Jiantou indicated that post-holiday, investor risk aversion is easing, leading to a more active search for opportunities, with a high probability of continued upward trends in A-shares [4]