万联证券：万联晨会-20241108

Core Views - The A-share market showed a collective increase on Thursday, with the Shanghai Composite Index rising by 2.57%, the Shenzhen Component Index by 2.44%, and the ChiNext Index by 3.75% [5][6] - The total trading volume in the Shanghai and Shenzhen markets reached 2.5 trillion yuan [5] - The non-bank financial, food and beverage, and beauty care sectors led the gains, while defense, non-ferrous metals, and electric equipment sectors lagged [5][6] Market Performance - The domestic market indices closed as follows: Shanghai Composite Index at 3,470.66 (+2.57%), Shenzhen Component Index at 11,235.92 (+2.44%), and ChiNext Index at 2,350.76 (+3.75%) [2] - The international market showed mixed results, with the Dow Jones down by 0.001%, S&P 500 up by 0.74%, and Nasdaq up by 1.51% [3] Important News - China's foreign trade maintained steady growth in the first ten months of the year, with total import and export value reaching 36.02 trillion yuan, a year-on-year increase of 5.2% [6] - The People's Bank of China is steadily advancing the opening of the financial services industry and financial market, aiming to enhance the business environment and promote high-level financial openness [6] Industry Insights - The performance recovery momentum in downstream industries is stronger, with the TMT sector showing revenue growth while upstream industries like construction materials and steel are experiencing significant declines [8][9] - The Middle East is accelerating its energy transition, with a strong potential for renewable energy development, particularly in solar and wind energy [9][10] - The real estate sector is seeing a gradual recovery due to a series of supportive policies aimed at reducing inventory and stabilizing market expectations [12][13]