万联晨会-20251125

Core Insights - The A-share market saw a collective rise in the three major indices on Monday, with the Shanghai Composite Index increasing by 0.05%, the Shenzhen Component Index rising by 0.37%, and the ChiNext Index up by 0.31%. The total trading volume in the Shanghai and Shenzhen markets was 1.7403 trillion yuan, a decrease of 243.3 billion yuan from the previous day, with over 4,200 stocks rising across the market. Active sectors included AI applications, military equipment, and commercial aerospace, while lithium and Hainan sectors experienced adjustments [2][7]. Important News - President Xi Jinping held a phone call with U.S. President Donald Trump on November 24, emphasizing the positive trajectory of China-U.S. relations since their meeting in Busan last month. Xi highlighted the importance of cooperation for mutual benefit and prosperity, urging both sides to maintain momentum and expand cooperation [3][8]. - The People's Bank of China announced a 1 trillion yuan medium-term lending facility (MLF) operation scheduled for November 25, with a one-year term. This operation follows the maturity of 900 billion yuan in MLF in November, resulting in a net injection of 100 billion yuan, marking the ninth consecutive month of increased MLF operations by the central bank [3][8].