川财证券：研究所晨报-20241111

Core Views - The report indicates a strong performance in the stock market, with major indices showing significant gains, driven by global interest rate cuts and domestic economic policies aimed at supporting growth [3][4][12] - The increase in local government debt limits by 6 trillion yuan is highlighted as a major policy move to alleviate hidden debt and promote economic development [3][7] - The report suggests focusing on sectors such as electronics, low-altitude economy, and agriculture for potential investment opportunities [3][10] Market Overview - The Caixin China General Services PMI for October recorded at 52.0, up 1.7 percentage points from September, indicating a recovery in the service sector [4][12] - The Shanghai Composite Index rose by 2.32%, with the ChiNext Index increasing by 4.75%, reflecting a positive market sentiment [4][12] - The defense and military industry, along with computer and non-bank financial sectors, led the market gains with increases of 6.33%, 5.60%, and 4.97% respectively [5][12] Industry Insights - The upcoming 15th China International Aviation and Aerospace Exhibition is expected to boost military product exports, further supporting the defense sector [5][12] - The report emphasizes the importance of monitoring developments in low-altitude economy, artificial intelligence, and unmanned driving technologies as key areas for future growth [5][12] - The report also notes the rising consumer confidence in the U.S., which may influence global market trends [10]