Market Overview - A-shares and Hong Kong stocks are showing a weak trend, diverging from the rising prices of precious metals like platinum, lithium carbonate, gold, and silver, indicating a lack of alignment with the global "double holiday market" [3] - The volatility of the Shanghai Composite Index has been significantly lower than that of US and European markets in recent years, reflecting the complex structure of investors in the Chinese stock market [3] Investment Opportunities - **Humanoid Robots**: The upcoming New Year events are expected to feature humanoid robots, which may boost sales for related companies, although the impact on stock performance may be limited [4] - **Innovative Drugs and CROs**: The pharmaceutical sector remains stable, with year-end reports likely to prompt investment in pharmaceutical stocks as a means to stabilize financial expectations for investment funds [4] - **New Consumption, Especially Service Consumption**: The focus for 2026 is on stimulating consumption, particularly in the service sector, with potential growth in entertainment industries such as mobile games, live streaming, movies, and short dramas [6] - **Cyclical Non-ferrous Stocks**: The current environment of monetary easing is expected to continue, supporting the commodities market through at least the second half of next year [6]