投顾晨报：耐心等待低位布局时机-20251205

Core Insights - The report emphasizes a cautious optimism in the market, suggesting that investors should wait for low-positioning opportunities as the market is expected to experience fluctuations [3][9] - It highlights the importance of focusing on sectors with improving marginal conditions, particularly in the context of global supply chain restructuring and policy stimulus [9] Market Strategy - The report predicts a balanced market with a tendency towards large-cap stocks, while small-cap growth stocks may experience weakness [9] - It advises investors to select industries and sectors that are undervalued and have low institutional allocation, while also considering short-term timing [9] Industry Strategy - In the non-ferrous metals sector, the report suggests that the current market conditions are favorable for investment, particularly in copper, gold, and aluminum as the supply-demand dynamics tighten [5][9] - It recommends specific stocks such as Tongling Nonferrous Metals (000630) and Yun Aluminum (000807) for potential investment opportunities [9] Thematic Strategy - The report discusses the promising future of space computing, driven by government support for commercial aerospace development, which is expected to create significant growth opportunities in various applications [6][9] - It highlights the projected compound annual growth rate of 67.4% for the global in-orbit data center market from 2025 to 2035, with a market size expected to reach $39 billion by 2035 [9] - Recommended stocks in this area include Haiguang Information (688041) and Zhongke Xingtu (688568) [9]