中银证券：中银晨会聚焦-20250114

Core Views - The report highlights a focus on macroeconomic indicators, specifically the December CPI and PPI growth rates, which align with market expectations. The CPI growth rate showed a slight decline compared to November, primarily due to food prices, while service prices experienced a minor increase [2][5][6] - The report maintains a forecast that both CPI and PPI growth rates will continue to rise in 2025, with CPI expected to increase to 0.9% year-on-year, and PPI projected to decline by 0.6% year-on-year, with a potential recovery in the fourth quarter of 2025 [5][8] Stock Recommendations - The report lists a selection of stocks recommended for January, including Yunda Holdings (002120.SZ), China Petroleum (601857.SH), and CATL (300750.SZ) among others, indicating a strategic focus on these companies for potential investment opportunities [1] Market Indices - The report provides closing prices and percentage changes for major market indices, with the Shanghai Composite Index closing at 3160.76, down 0.25%, and the Shenzhen Component Index remaining unchanged at 9796.18 [3] Industry Performance - The report details the performance of various industries, noting that the non-ferrous metals sector saw a rise of 1.81%, while the household appliances sector declined by 2.45%. Other notable performances include real estate up by 1.12% and banking down by 1.16% [4]