每经编辑｜吴永久 对于板块机会方面，一些参赛高手看好人形机器人、锂矿、贵金属板块的机会。 12月22日，A股延续升势，目前上证指数已经走出了4连阳，市场赚钱效应较好。贵金属、CPO概念涨幅居前。截至收盘，沪指涨0.69%，收报3917.36 点；创业板指涨2.23%，收报3191.98点。沪深两市成交额达到18619亿元，较上周五放量1360亿元。 消息面上，伦敦现货黄金在12月22日创出历史新高，突破了4400美元/盎司。 由每日经济新闻App举办的掘金大赛第80期比赛于12月15日开始比赛，多位选手跑步入场，抓住了行情。报名时间为12月13日至12月31日，比赛时间为12 月15日至12月31日。大赛为模拟炒股，模拟资金50万元。每期比赛结束，正收益就获现金奖励！报名就拿福利！冲刺月度积分王大奖！ 每期比赛的税前现金奖励为：第1名奖励688元，第2~4名奖励188元/人，第5~10名奖励88元/人，其余正收益选手均分500元正收益奖。月度积分王的税前 现金奖励为：第1名奖励888元，第2~4名奖励288元/人，第5~10名奖励188元/人，第11~30名奖励68元/人，第31~100名奖励18元/人。 为 ...

市场策略丨点评报告 丨证券研究报告丨 [Table_Title] 1217 A 股日评：市场情绪修复，创业板指领涨 报告要点 [Table_Summary] 今日 A 股市场三大指数全部上涨，通信、有色金属板块全线爆发，创业板指涨幅超 3 个点。长 江一级行业中电信业务、金属材料及矿业、电子与保险等行业领涨。从指数表现来看，上证指 数上涨 1.19%，深证成指上涨 2.40%，创业板指上涨 3.39%，上证 50 上涨 1.25%，沪深 300 上涨 1.83%，科创 50 上涨 2.47%，中证 1000 上涨 1.49%，市场成交额为 1.83 万亿元，全市 场 3623 家上涨。 分析师及联系人 [Table_Author] 戴清 SAC：S0490524010002 SFC：BTR264 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_Title2] 1217 A 股日评：市场情绪修复，创业板指领涨 [Table_Summary2] 事件描述 今日 A 股市场三大指数全部上涨，通信、有色金属板块全线爆发，创业板指涨幅超 3 个点。长 江一级 ...

Market Overview - The A-share market showed an overall increase today, with the Shanghai Composite Index rising by 0.36% to close at 3890.45 points, the Shenzhen Component Index increasing by 0.66% to 13140.21 points, and the ChiNext Index up by 0.49% to 3122.24 points. The total trading volume in the Shanghai and Shenzhen markets reached 17259 billion, an increase of 704 billion compared to the previous trading day [1][2]. Industry Performance - Among the primary industries, retail, comprehensive services, light manufacturing, environmental protection, social services, and real estate sectors led the gains, with increases of 3.66%, 2.22%, 2.17%, 2.06%, 2.03%, and 2.01% respectively. Conversely, the banking, coal, and electronics sectors experienced declines of 0.44%, 0.29%, and 0.29% respectively [1][2]. Concept Sector Performance - The concept sectors that saw the highest gains today included Hainan Free Trade Port, dairy industry, nuclear fusion, three-child policy, cross-strait integration, rare earth permanent magnets, nuclear power, initial public offerings, lithium mining, cross-border e-commerce, duty-free shops, anti-tariff, superconductors, minimum market value, and primary real estate developers. In contrast, sectors such as optical modules, photolithography machines, GPUs, semiconductor silicon wafers, memory, copper-clad laminates, and optical chips experienced pullbacks [2].

Core Viewpoints - The current market strategy for investors is to remain calm and patient, avoiding excessive excitement from single-day rebounds or pessimism from adjustments. The focus should be on selecting fundamentally supported stocks for low-cost entry while steering clear of high-valuation stocks lacking earnings support [1][8][9] Market Overview - On Thursday, the three major indices opened lower, with the Shanghai Composite Index fluctuating to positive territory while the Shenzhen Component and ChiNext remained weak. The performance was mixed, with strong gains in the pharmaceutical and aerospace sectors, while growth and technology stocks dragged down overall market performance [4][5][6] - The Shanghai Composite Index closed at 3876.37 points, up 6.09 points, with a trading volume of 7048.96 billion; the Shenzhen Component closed at 13053.97 points, down 170.54 points, with a trading volume of 9505.87 billion; the ChiNext Index closed at 3107.06 points, down 68.85 points, with a trading volume of 4498.55 billion [5] Sector Analysis - The pharmaceutical commercial sector saw significant gains, supported by government funding announcements for medical insurance and healthcare services, totaling 416.6 billion for 2026 [6] - High-dividend stocks, particularly in the banking sector, supported the index. Investors are advised to focus on high-dividend stocks with strong fundamentals while avoiding high valuations in low-supply barrier industries [6][7] - The commercial aerospace sector became active due to recent policy clarifications and the establishment of dedicated regulatory bodies, providing a more stable development environment for the industry. Investors are encouraged to consider low-cost entries rather than chasing high prices [7]

点击蓝字，关注我们 7 . 首都机场(00694)逆市涨超6.7% 。消息面上，上海浦东、虹桥机场及北京首都机场陆续启动新一轮 免税招标，关键变化是引入外资参与者。 8 . 浙江世宝(01057)再涨超4.1% 。消息面上，工业和信息化部公布我国首批L3级有条件自动驾驶车型 准入许可，两款分别适配城市拥堵、高速路段的车型将在北京、重庆两地指定区域开展试点。 9 . 长飞光纤光缆(06869)昨日大涨超21%，公司A股2连板。截至发稿，涨2.28% 。消息面上，近日市 场热议光纤涨价。据看财经消息，有机构认为AI驱动光纤涨价。此前市场普遍认为，受限于运营商宽 带投资放缓，光纤始终处于降价周期。 10 . 药捷安康-B(02617)微跌0.23% 。消息面上，药捷安康-B此前发布公告，替恩戈替尼片已获中国国 家药品监督管理局(NMPA)药品审评中心(CDE)批准纳入优先审评品种名单，拟定适应症为：用于既往 今日上午港股 1 . 卓悦控股(00653)再涨超11%，近五个交易日股价实现翻倍。截至发稿，涨9.48% 。消息面上，卓悦 控股近期发布公告，附属卓悦供应链与紫元元(08223)订立不具法律约束力的谅解备忘录 ...

光大期货金融期货日报 光大期货金融期货日报（2025 年 12 月 18 日） 一、研究观点 光大期货金融期货日报 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 市场全天震荡走强，创业板指大涨超 3%。个股涨多跌少，沪深京三市超 3600 | | | | 股飘红，今日成交 1.83 万亿。截止收盘沪指涨 1.19%，深成指涨 2.4%，创业 | | | | 板指涨 3.39%。近期，股指期货市场围绕 10 月以来的中枢下沿持续震荡，大 | | | | 小盘指数分化有限，板块间轮动频繁，市场情绪相对温和。12 月政治局会议 | | | | 与中央经济工作会议相继召开，短期内政策对市场的影响有望增强。从政策 | | | | 表述来看，重要会议提到"实现'十五五'良好开局"，预计明年 5%的 GDP | | | | 增长目标不会改变。政策发力方向仍主要集中在"稳内需"和"促进新质生 | | | 股指 | 产力快速发展"。会议提到，"必须坚持投资于物和投资于人紧密结合"， | 震荡 | | | 提振居民收入水平和消费能力是宏观通胀预期回升的重要条件。同时强调 | | | | "保持 ...

Market Overview - On December 18, A-shares opened lower with the Shanghai Composite Index down 0.34% at 3857.26 points, the Shenzhen Component Index down 0.85% at 13112.61 points, and the ChiNext Index down 1.17% at 3138.66 points [1] - Key sectors such as CPO, tax refunds for outbound travelers, and fiberglass saw significant declines [1] - Notable stocks included Baida Group, which opened up 4.49%, and Shengtong Energy, which reached a limit up after a change in control [1] Company News - SpaceX has entered a "regulatory quiet period," signaling the initiation of the largest IPO in history [2] - Vanke A proposed a 12-month extension for the principal repayment of its medium-term notes, with a total outstanding amount of 3.7 billion yuan [2] - CATL launched the world's first humanoid robot production line for battery PACKs, marking a significant milestone in intelligent manufacturing [2] - China CNR signed several major contracts totaling approximately 53.31 billion yuan, representing 21.6% of its projected 2024 revenue [3] - Huayi Brothers reported a reduction in shareholding by Alibaba's venture capital arm, decreasing its stake from 3.47% to 2.40% [3] Industry Insights - The global optical module market is experiencing a rapid shift from copper cables to fiber optics, with 1.6T products expected to see significant growth starting in 2026 [6] - The Yichun Natural Resources Bureau plans to revoke 27 mining licenses, including one for Jiangte Electric's lithium-containing ceramic stone mine with an annual capacity of 1.2 million tons [7] - Travel bookings for the upcoming New Year holiday have increased by nearly 30% compared to the same period last year, indicating a recovery in the tourism sector [8] - A successful clinical trial of an invasive brain-computer interface was completed, allowing a paralyzed patient to control a smart wheelchair using brain signals [9] - The upcoming FORCE conference by Volcano Engine is expected to introduce new AI models, enhancing performance and reducing costs [10] - The fifth International AIDC Liquid Cooling Supply Chain Summit will discuss the growing importance of liquid cooling technology in data centers due to rising AI server demands [11] - The founder of Hailin Energy predicts that global electricity demand will surge by 2050, emphasizing the critical role of energy storage in addressing energy challenges [12][13] Institutional Perspectives - CITIC Securities highlights structural opportunities in the express delivery sector, focusing on cost reduction across the entire supply chain [14] - CICC notes that the food and beverage industry is nearing a bottom, with a focus on high-quality growth driven by product innovation and channel expansion [15] - Huatai Securities anticipates that the recent approval of L3 autonomous driving vehicles will accelerate value reconstruction in the smart driving industry, with significant investment opportunities emerging in 2026 [16]

Core Insights - The article provides an overview of the performance of various mutual funds, highlighting the top and bottom performers based on net asset value changes [1][2][3]. Fund Performance Summary Top Performing Funds - The top 10 funds with the highest net value growth as of December 17 include: 1. Guoshou Anbao Strategy Selected Mixed A: 2.0359, +7.67% 2. Guoshou Anbao Strategy Selected Mixed C: 1.4616, +7.66% 3. Rongtong Industry Trend Stock: 1.3413, +7.39% 4. Taixin Development Theme Mixed: 1.8890, +7.33% 5. Huashang Leading Advantage Mixed: 1.5711, +7.02% 6. Dongfang Alpha Rui Xiang Mixed A: 1.1459, +6.95% 7. Dongfang Alpha Rui Xiang Mixed C: 1.1456, +6.95% 8. Guotou Ruijin Advanced Manufacturing Mixed: 2.7811, +6.92% 9. Huatai Bairui Quality Growth A: 1.7812, +6.90% 10. Huatai Bairui Quality Growth C: 1.7498, +6.90% [2][5]. Bottom Performing Funds - The bottom 10 funds with the lowest net value growth as of December 16 include: 1. GF Dow Jones Oil Index RMB A: 2.1869, -3.90% 2. GF Dow Jones Oil Index RMB C: 2.1536, -3.90% 3. GF Dow Jones Oil Index RMB E: 2.1613, -3.90% 4. Huabao Oil and Gas C: 0.6770, -3.70% 5. Huabao Oil and Gas: 0.6946, -3.69% 6. Huabao Overseas China Growth Mixed: 1.3640, -3.06% 7. Nuon Oil and Gas Energy F: 1.0150, -2.59% 8. Huazhong Standard & Poor's Global Oil Index A: 1.7015, -2.53% 9. Huazhong Standard & Poor's Global Oil Index C: 1.6823, -2.53% 10. ICBC Hong Kong Small Cap RMB: 1.8970, -2.32% [3][5]. Market Analysis - The Shanghai Composite Index showed a rebound with a trading volume of 1.83 trillion, with a gain-loss ratio of 3626:1635 and a limit-up limit-down ratio of 57:25. Leading sectors included communication equipment, components, and insurance, each rising over 3% [5].

Market Performance - The Shanghai Composite Index closed at 3870.28 points, up 1.19%, with a trading volume of 766.8 billion yuan [1] - The Shenzhen Component Index closed at 13224.51 points, up 2.4%, with a trading volume of 1044.325 billion yuan [1] - The ChiNext Index closed at 3175.91 points, up 3.39%, with a trading volume of 495.114 billion yuan [1] - The STAR Market 50 Index closed at 1325.33 points, up 2.47%, with a trading volume of 50.2 billion yuan [1] - The total trading volume of both markets reached 1811.125 billion yuan, an increase of 86.946 billion yuan compared to the previous trading day [1] Sector Performance - Strong performance was noted in sectors such as telecommunications, non-ferrous metals, insurance, precious metals, electronics, chemicals, power equipment, and media [2] - Concepts like CPO, lithium mining, optical communication modules, liquid cooling, copper cable high-speed connections, fluorine chemicals, PCB, and composite current collectors showed active trends [2] - The agriculture, defense, and liquor sectors experienced declines, with weaker trends in concepts like space stations, satellite internet, duty-free, rental sales, and grain [2] Fund Flow - The net outflow of main funds in the Shanghai and Shenzhen markets was 6.73 billion yuan [3] - The ChiNext saw a net outflow of 4.067 billion yuan, while the CSI 300 index experienced a net outflow of 5.145 billion yuan [4] - The telecommunications sector had the highest net inflow of main funds, amounting to 4.529 billion yuan, followed by non-ferrous metals, electronics, and power equipment [4] Individual Stock Performance - A total of 2117 stocks saw net inflows of main funds, with 93 stocks receiving over 100 million yuan in net inflows [5] - The stock with the highest net inflow was Zhongji Xuchuang, with 1.426 billion yuan, followed by Xinyi Sheng, Shenghong Technology, Tianfu Communication, and others [6] - Conversely, 3043 stocks experienced net outflows, with 75 stocks seeing over 100 million yuan in net outflows [7] - The stock with the highest net outflow was Pingtan Development, with 1.459 billion yuan, followed by Yonghui Supermarket, Aerospace Development, and others [8] Institutional Activity - Institutional seats had a net buy of approximately 471 million yuan, with 16 stocks being net bought and 11 stocks being net sold [9] - The stock with the highest net buy from institutions was Juguang Technology, with about 291 million yuan [10] - The stock with the highest net sell was Yingweike, with approximately 22 million yuan, followed by Xue Ren Group, Guangxun Technology, and others [11]

Market Overview - A-shares experienced a significant rally in the afternoon session, with the Shanghai Composite Index rising over 1% and the ChiNext Index soaring over 3% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.8345 trillion yuan, an increase of approximately 86 billion yuan compared to the previous day [1] Insurance and Brokerage Sector - The insurance sector saw strong gains, led by China Pacific Insurance, with major companies like China Life and China Property & Casualty Insurance also rising over 3% [2] - Analysts suggest that the insurance industry may undergo valuation recovery due to the adjustment of preset interest rates and the development of floating income products [2] - The brokerage sector also performed well, with Huatai Securities hitting a near-limit increase and closing up about 6% [2] AI Industry Chain - Stocks related to the AI industry chain, particularly CPO concepts, saw significant increases, with companies like Yidong Electronics and Lian Te Technology hitting the 20% limit up [3] - The global AI industry is at a pivotal point of capability leap and accelerated commercialization, with leading firms in the US and China dominating the large model landscape [3][5] Lithium Mining Sector - The lithium mining sector experienced a substantial rise, with Tianhua New Energy increasing over 14% and several other companies reaching their daily limit [6] - The price of lithium carbonate futures surged over 8%, reaching a new high since June 2024, driven by supply disruptions and rising demand expectations [8] - Analysts noted that the price of lithium carbonate has increased over 70% from its low point earlier in the year, indicating strong supply and demand dynamics [8]