截至2025年12月22日 10:00，中证500质量成长指数上涨0.81%，成分股白银有色上涨9.07%，华工科技上涨5.83%，景旺电子上涨4.39%，伯特利上涨4.15%， 鼎龙股份上涨2.94%。500质量成长ETF(560500)上涨0.85%。（文中所列示股票为指数成份股，仅做示意不作为个股推荐。过往持仓情况不代表基金未来的 投资方向，也不代表具体的投资建议，投资方向、基金具体持仓可能发生变化，投资需谨慎） | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 000988 | 华工科技 | 5.83% | 3.37% | | 002517 | 恺英网络 | -1.73% | 2.96% | | 6015522 | 东吴证券 | 0.00% | 2.46% | | 002850 | 科达利 | 0.60% | 2.12% | | 002273 | 水晶光电 | 1.03% | 2.01% | | 002532 | 天山铝业 | 0.56% | 1.98% | | 688608 | 恒玄科技 | 1.66% | 1.95% | | 603129 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 股指：指数继续震荡，年底波动率可能走高 上周，A股市场中幅震荡，Wind全A收跌0.15%，日均成交额1.76万亿元。中证1000下跌0.56% ，中证 500持平 ，沪深300指数下跌0.28% ，上证50上涨0.32%。期权隐含波动率小幅回升，1000IV收于 18.56%，300IV收于16.03%。融资余额周度减少76亿元，至2.475万亿元。基差贴水明显收敛，指数对冲 需求小幅增加。 预计股指短期仍在10月以来构建的震荡中枢内震荡，破位下跌风险不强。以中证1000为例，其三季度营 业收入累计同比增速2.6%左右，对其当前估值构成明显支撑，不易发生流动性风险。另一方面，春季 躁动行情需要一定的条件，对小盘指数而言，需要政策边际放宽流动性；对大盘而言，需要通胀预期的 持续改善。当下上述条件并不突出，春季躁动行情可能不如往年剧烈。 当前，市场更加注重板块的业绩确定性。A股市场存在几条科技主线：（1）题材盈利能力较强，高 ROE、高营收同比、高经营现金流题材；（2）存在明显供给约束，目前处于被动去库存且在建工程等 资产项环比大增的题材。例如网 ...

中信建投认为，当前A股市场仍处于窄幅震荡格局当中，随着美联储12月延续降息，市场中期政策和流 动性预期已经明确。短期A股波动主要受外部环境影响，如美股AI泡沫疑虑和日本央行加息，目前美股 AI核心公司股价已经企稳，日本央行加息落地后续影响有限，A股有望和全球股市一起共振上行。从市 场情绪角度进行分析，投资者情绪指数近期降至70以下水平，在本轮牛市中处于区间下沿，这也反映出 当前投资者悲观情绪已经得到了一轮较为充分的反应，考虑到仍然偏高的杠杆资金情绪，预计投资者情 绪也将小幅回升，带动市场波动上行。 东莞证券认为，上周五，A股市场放量上行，沪指收获三连阳，赚钱效应偏好。随着外围不确定因素陆 续明朗，短期影响A股的外部压力趋于消退。近期一系列重要会议所释放的国内外政策利好，共同营造 了有利于风险资产表现的环境，跨年行情或将在市场共识凝聚中徐徐展开。 财信证券认为，随着11月份经济数据公布以及海外三大央行利率决议落地，宏观经济数据对市场影响消 退，流动性及风险偏好对市场影响将增加，叠加国内政策利好预期，市场有望逐步演绎"春季躁动"行 情，指数放量突破均线将是观察"春季躁动"行情开启的关键信号。从技术形态来看，11月 ...

新华财经北京12月22日电四大证券报内容精华摘要如下： 中国证券报 ·"游戏+"跨界融合打开产业新空间 曾经主要被视为娱乐产品的游戏，正在打开新的可能性。随着数字技术的演进，游戏产业积累的技术能 力、设计思维与用户基础，开始系统性地溢出原有边界，与医疗、教育、文旅、制造等传统领域深度融 合。业内人士表示，游戏正从提供娱乐消遣的载体，演进为驱动实体产业数字化发展、服务社会多元需 求的柔性工具。这种转变，重塑着人们对游戏的认知，也开辟出新的产业增长点。 ·锚定高质量发展万亿元级"游戏经济"生态浮现 在政策环境持续优化、版号供给充足的背景下，中国游戏产业正从高速增长阶段，坚定迈向以"高质量 发展"为核心的新阶段。《2025年中国游戏产业报告》显示，2025年，国内游戏市场实际销售收入达 3507.89亿元，同比增速达7.68%，产业基本盘稳固。更为深刻的变化在于，行业的价值认知与发展脉络 正在重构——"游戏经济"展现出市场规模超1.2万亿元的广阔生态；以人工智能为代表的技术革新与以 传统文化为内核的内容深耕，正构筑起产业新的竞争壁垒；而出海与履责并重，标志着行业寻求可持续 发展的成熟姿态。多位从业者表示："游戏产业 ...

专题：四大证券报精华 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月22日（星期一），今日报刊头条主要内容精华如下： 中国证券报 聚焦功能跃迁 券商竞合开新局 在建设金融强国的战略指引下，我国证券行业正迎来一轮"自上而下、政策驱动"的深度整合浪潮。近 日，中金公司宣布换股吸收合并东兴证券与信达证券，交易完成后预计总资产规模将跨越万亿元大关， 一家新的"航母级"券商雏形初现。这仅是行业变局的缩影，2025年以来，包括国泰君安与海通证券合并 在内的多起重磅案例陆续落地。 A股年底怎么买？六大机构最新策略来了 临近年底，A股市场整体维持高位震荡态势。本周，上证指数周线翻红，深证成指、创业板指再现调 整。在业内机构看来，A股市场进入跨年布局的关键窗口，结构性机会将集中在政策导向与产业景气共 振的赛道，后续春季行情值得期待。 曾经的"12连板"大牛股*ST东易：重整计划获法院裁定批准 12月21日晚，*ST东易公告称，12月21日，北京市第一中级人民法院裁定批准《东易日盛家居装饰集团 股份有限公司重整计划》，并终止公司重整程序。同日，公司披露重整计划，计划以现有总股本为基 数，按每10 ...

Core Viewpoint - The report from Galaxy Securities highlights the recent divergence in global central bank monetary policies, leading to increased volatility in capital markets, particularly in the A-share market, which is expected to continue its fluctuating trend in the short term [1] Group 1: Central Bank Actions - The Federal Reserve announced a rate cut during its December meeting, while the Bank of England implemented a hawkish rate cut of 25 basis points [1] - The European Central Bank decided to maintain its deposit rate at 2%, and the Bank of Japan raised rates by 25 basis points as expected [1] Group 2: Market Outlook - The A-share market is experiencing a phase of structural fluctuations due to year-end liquidity tightening, fluctuating overseas monetary policy expectations, and a slow recovery in domestic fundamentals [1] - The market is anticipated to continue its oscillating structural trend with rapid sector rotation [1] Group 3: Future Expectations - As 2026 approaches, the A-share market is entering a critical window for cross-year layout, with attention on potential small fluctuations around New Year's [1] - The year 2026 marks the beginning of the "14th Five-Year Plan," and the release of policy dividends is expected to be relatively early, with structural opportunities concentrated in sectors resonating with policy guidance and industrial prosperity [1] - The upcoming spring market rally is anticipated to be promising [1]

晨报讯（南京晨报/爱南京记者 许崇静）近期A股市场表现如何？南京证券研究员周正峰表示，上周 （12月15日至19日），市场整体转为小幅调整，此前表现偏强的成长风格受到外围市场的影响而有所走 弱，沪指同样二次探底创近一个多月以来的新低后震荡回升，最终还录得周度小幅上扬，凸显当前市场 向下的风险整体可控，但向上也的确缺乏有效的催化和领涨主线。市场风格方面，行业风格涨跌分化， 金融、消费及周期风格收涨，成长及稳定风格出现一定的调整，而成长风格领跌两市。 投资策略上，尽管成长板块的行情持续性不足且存在内部分化的情况，但无疑市场关注的焦点仍在科技 成长板块上，不过近期海外市场相关科技龙头企业的走势相对疲弱，以及在融资层面遇到的一些阻碍也 的确放大了国内市场相关映射板块的波动，若海外市场能够企稳或者国内AI或半导体自主可控产业链 出现积极的信号，相关板块的修复又将卷土重来，在此之前市场可能还是不会大举介入相关的科技板 块，但从业绩确定性优势来看，相关板块若能有所调整，后续的配置性价比将明显增加，且有望成为明 年春季躁动行情的关键主线。市场整体走势延续震荡盘整的概率较大，或需等待更为明确的增量政策出 台或产业层面的利好催化 ...

Group 1 - A-share market shows mixed performance with the Shanghai Composite Index being relatively stable while the ChiNext Index is weaker due to a pullback in the technology manufacturing sector [1][11] - The consensus is forming around a potential "rally" in the market as liquidity expectations improve following key overseas events and a positive policy environment from the Central Economic Work Conference [12][13] - The market style is expected to shift towards small-cap and technology growth sectors during the "rally" window from late January to early March 2026, following a period of value-driven performance [12][13] Group 2 - The strong market performance on Wednesday may indicate the start of the 2026 cross-year market trend, supported by significant net subscriptions in stock ETFs [14] - Continued policy support and stable economic growth are anticipated to bolster market confidence and attract various types of capital inflows [14] - The trend of high-net-worth individuals moving their deposits into the stock market is likely to continue, driven by lower expected returns from other asset classes [15] Group 3 - Incremental capital is entering the A-share market through broad-based ETFs, signaling positive market sentiment as investors prepare for the "spring rally" [16] - The technology and small-cap sectors are expected to perform actively as investors increase their positions [16] - The easing of "AI bubble" concerns and the resolution of liquidity uncertainties are providing a recovery opportunity for the market [17] Group 4 - Investment strategies should focus on three key areas: dividend value, high-growth sectors during the upcoming "rally," and active themes driven by policy and technology [18] - In a strengthening RMB environment, sectors such as aviation, gas, and paper are expected to benefit from cost advantages, while upstream resources and consumer goods may see profit margin improvements [20][21] - The non-bank financial sector, particularly insurance stocks, is showing increased elasticity and may outperform if policy catalysts emerge [21]

Core Viewpoint - The brokerage strategy analysts remain optimistic about the spring market rally, awaiting an effective signal to initiate the movement [1] Group 1: Market Signals and Economic Indicators - Analysts from Xingzheng Strategy highlight that the liquidity expectations are shifting positively due to recent overseas events and a supportive domestic policy environment, indicating a transition from cautious behavior to actively seeking opportunities [1] - Key signals to watch for the potential market rally include the possibility of interest rate cuts and reserve requirement ratio reductions at the end of the year and early next year, with observation windows in early next week and January [1][2] - Important economic indicators such as PPI, PMI, M1, social financing, and annual reports from listed companies are expected to uplift the basic economic outlook [1][2] Group 2: Investment Trends and Sector Focus - The Guangfa Strategy team anticipates that 2026 will resemble an enhanced version of 2025, with continued support from insurance capital and regulation, alongside an acceleration in the migration of deposits from residents, particularly among high-net-worth individuals [1][2] - The trend of high-net-worth residents moving their deposits has already begun to accelerate, with new private equity fund registrations reaching 386 billion yuan from January to October 2025, with monthly registration sizes nearing levels seen in 2021 [1][2] - The Xinda Strategy team emphasizes the increasing elasticity of non-bank financial sectors, suggesting a potential rotation of market focus from banks to non-bank financials, with insurance valuations appearing more attractive [1][3] Group 3: Sectoral Opportunities and Predictions - Analysts suggest that sectors benefiting from policy support, such as AI, advanced manufacturing, and consumer services, are likely to see significant growth, with a projected net profit growth rate exceeding 30% in 2026 [2] - The market is expected to experience structural opportunities driven by policy guidance and industrial momentum, particularly in the context of the upcoming "14th Five-Year Plan" [3] - The spring market rally is anticipated to be influenced by the performance of cyclical sectors, with a focus on commodities and consumer sectors benefiting from increased consumption and fiscal stimulus [3]

Core Viewpoint - The market is expected to continue a volatile structural trend in the short term due to seasonal liquidity tightening and fluctuating overseas monetary policy expectations, with rapid sector rotation [1] Group 1 - The A-share market is entering a critical window for year-end layout as 2026 approaches, which is the starting year of the "14th Five-Year Plan" [1] - Attention is drawn to the small fluctuations in the market around New Year's Day, indicating potential short-term trading opportunities [1] - The release of policy dividends is anticipated to be relatively early, with structural opportunities concentrated in sectors that resonate with policy guidance and industry prosperity [1] Group 2 - The upcoming spring market rally is expected to be promising, driven by the structural opportunities identified [1]