11月中小盘优于大盘，家电、机械表现较佳

Core Insights - In November 2024, small and mid-cap stocks outperformed large-cap stocks, with a mixed overall performance across indices [2][15] - The typical indices showed a divergence in performance, with the CSI 300, CSI 1000, National 2000, and STAR 50 indices rising, while the SSE 50 and CSI 500 indices declined [2][15] - The proportion of stocks that increased in value across typical indices was approximately 49% [2][15] Small and Mid-Cap Analysis - In November 2024, 19 industries saw mid-cap stocks rise, while 7 industries experienced declines, with the top three performing sectors being home appliances, light industry manufacturing, and oil and petrochemicals [2][27] - Among small-cap stocks, 24 industries increased, and only 2 declined, with the top three sectors being retail, media, and food and beverage [2][27] - The turnover rates for mid-cap stocks were highest in the home appliances, media, and communications sectors, with some industries exceeding 1.5 times the index turnover rate [2][41] Investment Recommendations - It is suggested to focus on sectors such as home appliances, food and beverage, machinery, and non-ferrous metals, which are expected to continue generating excess returns [2][60] - Additionally, attention is drawn to small and mid-cap stocks in sectors like electronics, power equipment, new energy, and automotive, which are likely to benefit from policy catalysts and technological breakthroughs [2][60]