投资前瞻（12.15-12.19）丨A股重要指数调样生效；摩尔线程将举办首届MUSA开发者大会

Macro and Financial - The Central Economic Work Conference has set the focus for 2026, emphasizing the use of various government bond funds and the issuance of ultra-long special bonds to support construction and new initiatives [2] - The People's Bank of China will continue to implement a moderately loose monetary policy, enhancing both stock and incremental policy effects to stabilize economic growth and optimize supply [2] - The Ministry of Commerce and other financial authorities have issued measures to boost consumption, including deepening collaboration mechanisms and expanding financial support in key areas [3] - The Federal Reserve has maintained the federal funds rate target range at 3.50%-3.75%, with internal divisions on future rate cuts due to inflation concerns [4] - Global asset prices are showing divergence, with gold prices rising while oil prices have declined [5] Capital Market - A-shares are experiencing a weak recovery with significant structural performance, as the Shanghai Composite Index rose by 0.5% [7] - The Hong Kong stock market is under pressure, with the Hang Seng Index falling by 1.8% due to weak tech stocks [8] - U.S. stocks are facing a valuation correction, with major indices declining [9] - A significant adjustment in A-share indices has taken effect, enhancing the representation of emerging industries [10] - Over 130 billion yuan in locked shares will be released next week, with a peak on December 16 [11] Commercial Industry - China's commercial aerospace sector is accelerating towards large-scale applications, with significant technological breakthroughs and policy support [14] - The State Administration for Market Regulation is proposing guidelines to regulate pricing behavior in the automotive industry [15] - A new medical insurance directory will be published, adding 114 new drugs, including innovative treatments [15] - The Hainan Free Trade Port will officially start its operations on December 18, allowing for zero tariffs on certain imports [16] - Major tech events are scheduled, including the MUSA Developer Conference and ByteDance's FORCE conference, focusing on AI advancements [17][19]