Market Overview - The A-share market experienced a significant emotional recovery during the trading week from December 16 to December 20, with a notable rebound after initial declines [1] - The market was primarily driven by two major directions: the recovery of technology growth style and core asset performance [5][9] Market Performance - A total of 4,126 stocks declined this week, marking the second-highest number of declining stocks since the significant corrections in early October and mid-November [4] - The technology sector showed strength, highlighted by the strong performance of the Sci-Tech 50 index, while the North Stock 50 index ended a nine-day losing streak with gains on Thursday and Friday [3] Investor Sentiment - Investor sentiment improved, with individual investor sentiment reaching historical highs, while institutional sentiment showed signs of recovery, indicating a potential strong market phase [8][9] - The market is expected to stabilize in the coming days, with the Shanghai Composite Index's 60-day moving average serving as a support level [9] Future Outlook - The upcoming week is anticipated to see a "cross-year market," characterized by a phase of rising stock prices as the year ends, typically occurring from November to early February [11][12] - The market liquidity remains ample, with expectations of continued support from the central bank, which may inject significant funds into the market [10][13] Sector Focus - Short-term focus should remain on technology growth and core assets, particularly in sectors like electronics, communications, and military technology, which are expected to benefit from policy and industry trends [10][19] - The AI glasses concept has gained attention, with companies like Rokid and Doctor Glasses being highlighted for their collaborations, potentially driving stock performance in this niche [18][19] Upcoming Events - Key economic reports are set to be released, including the monthly report on industrial economic efficiency and the price changes of important production materials, which could impact market sentiment [20][21] - A total of 67 companies will have their restricted shares released next week, amounting to 7.068 billion shares, which could influence stock prices [22]

今天A股市场缩量调整，截至收盘，多数宽基指数录得下跌。 此外，"要大力提振消费、提高投资效益，全方位扩大国内需求"的表述，也切中当前经济复苏堵点和市场预期堵点，预计能有效对冲外部环境的 不确定性，短期内，也有望对冲消除特朗普交易对市场信心的不利影响。 总之，此次会议表态相当超预期，不仅短期大涨无疑，也为A股本轮跨年行情的演绎进一步打开空间。 唯一的担忧，是开盘即大涨，比较安心的上车窗口关闭了。 回到今天的市场，调整主要源于对政策不确定性的担忧。重要会议召开在即，临近靴子落地，政策预期交易进入验证窗口。鉴于前期市场对政策 刺激存在提前交易，部分资金选择在靴子落地前撤离，即所谓"买预期、卖兑现"，市场情绪有所回落。 具体看，今天红利指数、大盘权重指数收涨；科创板、创业板和小盘股指数跌幅靠前。 红利风格仍有支撑，成长性风格出现明显回调，市场风险偏好有所回落。 收盘后，政治局会议通稿发布，表述相当超预期，港股和富时A50瞬间拉涨。A股，收盘太早了，明天大概率会有长阳。 回顾2024年，会议指出，"全年经济社会发展主要目标任务将顺利完成"，预示着今年5%左右的GDP增速目标能够达成，为市场关于今年经济增速 的博弈画上句 ...