沪银再创新高

Market Analysis - The A-share market continues to show a shrinking rebound, with the Shanghai Composite Index closing at 3888.60 points, up 0.34%, and the Shenzhen Component Index rising 0.85% to 12984.08 points, indicating a positive overall market sentiment with 4122 stocks rising and 1187 falling [4][6]. - The market is experiencing a "slow bull" trend, with expectations of policy catalysts and liquidity improvements potentially pushing the market higher in December [8]. Bond Market - The government bond futures market is in a state of fluctuation, with the 30-year contract closing up 0.05% at 114.49 yuan, while the 10-year contract saw a slight increase of 0.03% to 107.940 yuan [11]. - The central bank's liquidity remains ample despite a net withdrawal of funds, with a focus on upcoming economic meetings that may influence fiscal policy and long-term interest rates [11][14]. Commodity Market - The commodity index rose by 0.64%, with the Shanghai silver contract reaching a new high of 12727 yuan per kilogram, driven by a favorable macroeconomic environment and expectations of continued central bank gold purchases [9][11]. - Precious metals are expected to maintain strong performance, with potential upward movement if upcoming economic data is weak or geopolitical risks increase [11][14]. Trading Hotspots - Key sectors include dividend stocks, AI applications, and consumer goods, with a focus on market recovery and potential policy stimuli [13]. - The report highlights a cautious market sentiment with shrinking trading volumes, indicating a potential shift in investment strategies towards more conservative positions [13][14].