内地工企利润修复仍存压力：环球市场动态2025年12月29日

Market Overview - A-shares continued to rise, with the Shanghai Composite Index up 0.1% to 3,563 points, marking an 8-day consecutive increase[15] - The S&P 500 recorded a weekly gain of 1.4%, closing at 6,929.94 points, while the Dow Jones and Nasdaq both rose by 1.2%[8] - The Hang Seng Index increased by 0.13% to 25,808.79 points during a half-day trading session[10] Economic Indicators - November industrial profits in mainland China declined significantly, influenced by a weakening low base effect from the previous year and a drop in industrial value-added and profit margins[5] - The Chinese Ministry of Finance has called for an expansion of fiscal spending next year to boost domestic demand[5] Commodity and Forex Market - Gold prices reached historical highs, with New York gold up 1.1% to $4,529.1 per ounce, while silver surged 7.7% to $76.486 per ounce[26] - Crude oil prices fell, with New York crude down 2.8% to $56.74 per barrel, amid geopolitical tensions and weak trading volume[26] Fixed Income Market - U.S. Treasury yields fell, with the 2-year yield down approximately 2.2 basis points to 3.48% and the 10-year yield down about 0.6 basis points to 4.13%[29] - Japan plans to reduce government bond issuance in the upcoming fiscal year, focusing on cutting long-term bond supply[29] Sector Performance - In the A-share market, the materials sector led gains with a 1.9% increase, while the information technology sector fell by 0.5%[16] - The insurance sector in Hong Kong is expected to see significant opportunities for valuation recovery, with companies like Ping An and China Life recommended for investment[13]