下周投资前瞻丨A股港股获机构看多；央行是否会连续增持黄金；芯片行业迎重大变革

Macro and Financial - China's official PMI shows stability, with manufacturing PMI at 49.2% in November, up 0.2 percentage points from the previous month, while non-manufacturing PMI decreased to 49.5%, down 0.6 percentage points [2] - The People's Bank of China (PBOC) emphasizes dual-track financial regulation and services, reaffirming the ban on virtual currency trading and enhancing multi-departmental regulatory collaboration [2] - The China Securities Regulatory Commission (CSRC) is drafting a pilot program for commercial real estate investment trusts (REITs) to support high-quality market development [4] - Global commodity prices and exchange rates are experiencing significant volatility, with COMEX silver rising over 6% and spot gold surpassing $4200 per ounce, driven by expectations of a Federal Reserve rate cut [5] - Major central banks are signaling policy stability, with the European Central Bank indicating current rates are appropriate and Japan planning significant bond issuance for economic stimulus [5] Capital Market - A-shares and Hong Kong stocks are viewed as "value traps" by institutions, with UBS setting a target for the Hang Seng Tech Index at 7100 points, a nearly 27% increase from the recent close [9] - The Shanghai Stock Exchange and China Securities Index Co. will adjust core indices, effective December 12, enhancing the representation of technology and industrial sectors [10] - A total of 35 A-share companies will have lock-up shares worth 59.53 billion yuan released from December 1 to 7, with significant focus on companies like Sichuan Road & Bridge [10] - Global stock markets are showing divergent trends, with A-shares attracting foreign capital due to valuation advantages, particularly in the technology sector [10] Commercial Industry - The semiconductor industry is undergoing significant changes, with Intel's stock surging 10% and the company potentially becoming a supplier for Apple by 2027 [13] - The commercial aerospace sector is receiving policy support, with the establishment of a dedicated regulatory body to promote high-quality development in China's commercial space industry [14] - Upcoming AI-related events and product launches are expected to drive innovation in consumer electronics and automotive sectors [15] - The tourism market is adjusting due to geopolitical tensions, with a notable increase in cancellations for trips to Japan, leading tourists to seek alternative destinations [15]