证券研究报告 | 2025年11月18日 金融工程日报 沪指震荡走低，锂电产业链回调、互联网电商概念逆势走强 市场表现：今日(20251118) 大部分指数处于下跌状态，规模指数中上证 50 指数表现较好，板块指数中科创 50 指数表现较好，风格指数中中证 500 成 长指数表现较好。传媒、计算机、电子、食品饮料、通信行业表现较好，基 础化工、煤炭、钢铁、有色金属、电新行业表现较差。拼多多合作商、小红 书平台、WEB3.0、互联网营销、Kimi 等概念表现较好，锂电电解液、六氟磷 酸锂、锂电正极、锂电负极、动力电池等概念表现较差。 市场情绪：今日收盘时有 63 只股票涨停，有 37 只股票跌停。昨日涨停股票 今日收盘收益为 0.17%，昨日跌停股票今日收盘收益为-2.77%。今日封板率 64%，较前日下降 13%，连板率 25%，较前日下降 11%。 市场资金流向：截至 20251117 两融余额为 25003 亿元，其中融资余额 24823 亿元，融券余额 180 亿元。两融余额占流通市值比重为 2.6%，两融交易占市 场成交额比重为 10.4%。 折溢价：20251117 当日 ETF 溢价较多的是生物医 ...

证券研究报告 | 策略点评 2025 年 11 月 18 日 投资要点 分析师：储杨阳 执业编号：S0300525060002 电话： 邮箱：chuyangyang@ykzq.com 投资策略研究 粤开市场日报-20251118 今日关注 指数涨跌情况：今日 A 股主要指数多数收跌。截止收盘，沪指跌 0.81%，收报 3939.81 点；深证成指跌 0.92%，收报 13080.49 点；科创 50 涨 0.29%，收报 1357.93 点；创业板指跌 1.16%，收报 3069.22 点。总体上，全天个股涨少跌 多，Wind 数据显示，全市场 1274 只个股上涨，4103 只个股下跌，67 只个股 收平。沪深两市今日成交额合计 19261 亿元，较上个交易日放量 153 亿元。 行业涨跌情况：今日申万一级行业涨少跌多，传媒、计算机、电子等行业涨 幅靠前，涨幅分别为 1.60%、0.93%、0.12%，煤炭、电力设备、钢铁、有色金 属、基础化工等行业领跌，跌幅分别为 3.17%、-2.97%、-2.85%、-2.80%、-2.67%。 | 一、市场回顾 | 3 | | --- | --- | | 二、风险提 ...

Market Overview - The A-share market saw most major indices decline today, with the Shanghai Composite Index falling by 0.33% to close at 3593.66 points, and the Shenzhen Component Index decreasing by 0.22% to 11168.14 points. The ChiNext Index dropped by 0.23% to 2340.06 points, while the Sci-Tech 50 Index increased by 2.07% to 1054.20 points. Overall, 2724 stocks declined, 2532 stocks rose, and 158 stocks remained flat, with total trading volume in the Shanghai and Shenzhen markets amounting to 12189 billion yuan, a decrease of 6258.16 billion yuan from the previous trading day [1][2]. Industry Performance - Among the primary industries, electronic, computer, real estate, light manufacturing, textile and apparel, and media sectors led the gains, while construction decoration, building materials, food and beverage, coal, comprehensive, and steel industries experienced declines [1][2]. Sector Highlights - The top-performing concept sectors today included GPU, Kimi, multimodal models, ChatGPT, photolithography machines, intelligent agents, servers, selected rare metals, AIGC, artificial intelligence, machine vision, ASIC chips, selected semiconductors, Xiaohongshu platform, and Pinduoduo partners [2].

Market Overview - The A-share market showed a positive trend today, with major indices mostly rising. The Shanghai Composite Index increased by 0.38% to close at 3380.48 points, while the Shenzhen Component Index rose by 0.77% to 10249.17 points. The ChiNext Index also saw a gain of 0.77%, closing at 2048.46 points [1] - Overall, there were 3836 stocks that rose and 1376 that fell, with a total market turnover of 11698 billion yuan, an increase of 832.34 billion yuan compared to the previous trading day [1] Industry Performance - Among the Shenwan first-level industries, all sectors except for defense, coal, steel, and real estate experienced gains today. Leading sectors included beauty care, comprehensive services, media, home appliances, pharmaceutical biology, and light industry manufacturing [1] Sector Highlights - The top-performing concept sectors today included pet economy, animal health selection, three-child policy, millet economy, cultivated diamonds, feed selection, superhard materials, hydropower, medical beauty, Xiaohongshu platform, generic drugs, gold and jewelry, IPO economy, central enterprise automobiles, and biotechnology [1]