摩根大通预测，受减税和降息政策推动，印度基准Nifty 50指数有望在2026年底攀升至30,000点，较当前水平上涨约15%。 印度股市周三迎来五个月来最强劲反弹，Nifty 50指数飙升1.24%至26,205.3点，创下14个月来最高收盘点位。市场普涨行情由美联储12月降息预 期升温以及印度央行下周可能降息的乐观情绪共同推动。 当前印度股市估值虽然相对其他新兴市场仍处于溢价水平，但经过14个月的表现不佳后，估值已降至长期平均水平以下。该投行认为，稳健的 财政和货币政策将为市场提供有力支撑。 今年以来Nifty指数上涨近11%，但仍落后于亚洲和新兴市场同业表现。这一疲软表现结束了印度股市此前超过一年的强劲走势，期间市场受到 盈利疲弱和持续外资流出的拖累。 贸易关系改善有望提振市场信心 9月创下的历史高点仅约0.4%。 在最新报告中，摩根大通表示，印度央行预计将在12月再度降息25个基点，加上近期减税措施已开始提振消费、企业债增长和汽车销售，这些 因素将共同推动国内需求增长。 摩根大通维持对面向印度国内市场板块的偏好，认为美印贸易协议可能引发短期重估。随着印度增加从美国的石油进口并减少从俄罗斯的原油 采购， ...

身处新质生产力发展浪潮，如何成为一朵奋勇争先的浪花？11月21日下午，在天津举办的"青春华章 踏 浪新质潮"学习贯彻党的二十届四中全会精神网络主题宣传和互动引导活动中，来自高校的学生给出了 他们共同的回答——积极投身科技强国建设。 未来职业概念时装秀、青春分享会在第三篇章展开，三位来自高校科研、天开园创业等不同领域的青年 分享了将个人理想融入国家需要的成长故事。 在活动尾声，《有我》唱响全场，激励青年扎实走好脚下的每一步路，勇做时代的"弄潮儿"。 11月18日至21日上午，来自全国二十余家媒体的近百名媒体工作者走进天津市高新科技产业园区、高校 实验室以及科技创新企业，了解人工智能、新能源、生物科技、材料等领域的最新科技突破，触摸"天 津智造"的发展脉搏。（记者 马常艳） 从近代工业摇篮到现代智造重镇，天津正成为发展新质生产力的热土。活动第一篇章聚焦新质生产力发 展浪潮，生动阐释新质生产力的核心内涵与发展逻辑。中国新一代人工智能发展战略研究院执行院长、 信创海河实验室主任龚克与学生们一同"踏浪新质潮"；"两弹一星"功勋奖章获得者于敏之子于辛参与跨 时空对话，以亲身经历传递"干惊天动地事，做隐姓埋名人"的精神火种 ...

新质潮涌，奋楫津门。11月21日下午，"青春华章·踏浪新质潮"学习贯彻党的二十届四中全会精神网络 主题宣传和互动引导活动在天津举办。本次活动由中央网信办网络传播局、天津市委宣传部指导，由天 津市委网信办、天津市教委、天津市科技局联合主办，央视网、天开集团共同承办。活动紧扣学习宣传 贯彻党的二十届四中全会精神，回应青年群体关切，聚焦海河两岸的智造新活力，传承发展"新天工开 物"的科技创新智慧，探寻新质生产力生动实践，生动展现新时代奋斗者与城市同奋进、与国家共发展 的昂扬姿态。 光影织就艺术纹理，科技承载人文温度——活动以"百舸争流，奋楫者先"主题视频重磅开幕，紧扣"在 发展新质生产力上勇争先、善作为"等重大主题，展现习近平总书记对天津发展的关怀与嘱托、对青年 成长的指引与期望，展现京津冀协同发展中的天津新气象，彰显中国式现代化进程中的青年担当。 从近代工业摇篮到现代智造重镇，天津正成为发展新质生产力的热土。第一篇章聚焦新质生产力发展浪 潮，以AI"时空列车"、青年与先辈科学家的跨时空对话、解码新质生产力微宣讲为载体，生动阐释新质 生产力的核心内涵与发展逻辑，阐述党的二十届四中全会提出"科技自立自强""发展新质生 ...

睿兽分析统计结果显示，2025年Q3中企IPO数量同比呈增长趋势，较2024年Q3增加32.69%；环比2025年Q2增加2.99%。 分市场来看，A股整体保持较高IPO活跃度，2024Q3为25家，2025Q1、2025Q3均为27家，是三个市场中IPO数量最稳定且规模较大的板块。港股IPO数量波 动较大，2024Q4和2025Q2均达到 25家，2025Q3保持在24家，整体呈现 "冲高后维持较高水平" 的趋势，赴美上市企业的数量则相对稳定。 2025年Q3中企上市企业数量显示，A股依然是主要上市市场；港股上市数量不及A股，但在募资额方面却远远高于A股市场，募资额高出72.91%。 从行业分布来看，2025年Q3中企IPO的69家公司中，医疗健康、传统行业较为突出，各有9家公司IPO，占总数量的26.09% 。其次，智能制造（8家）、汽车 交通（8家）、企业服务（7家）行业IPO数量较多。募资规模前五大行业分别为传统行业（256.41亿元人民币）、汽车交通（213.84亿元人民币）、能源电 力（188.53亿元人民币）、材料（81.39亿元人民币）、智能制造（79.75亿元人民币）。 从地区分布来看，20 ...

2026年亚洲新兴市场股票展望 November 18, 2025 05:12 AM GMT 风云未定，稳中求胜 我们建议在2026年采取紧贴基准指数的市场风险敞口，相对 新兴市场我们略微偏好日本。通过我们的全球新兴市场、亚 太地区（不含日本）、中国、日本以及主题焦点名单进行选 股，有助于在持续的宏观不确定性中获取超额收益。 Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment deci ...

Core Points - Zhongwei New Materials (02579.HK) shares closed at HKD 32.40, reflecting a decline of 4.594% and currently trading below the issue price [1] - The company was listed on the Hong Kong Stock Exchange on November 17, 2025, with a total of 104,225,400 shares offered, including 10,422,600 shares for public offering and 93,802,800 shares for international placement [1] - The final issue price was set at HKD 34.00, raising a total of HKD 3,543,663,600, with a net amount of HKD 3,432,609,775 after deducting estimated listing expenses [1] Underwriters and Coordinators - The joint sponsors and coordinators for the issuance include Morgan Stanley Asia Limited and Huatai Financial Holdings (Hong Kong) Limited, among others [2] - Additional joint global coordinators and bookrunners include China International Capital Corporation Hong Kong Securities Limited and BNP Paribas Securities (Asia) Limited [2] Cornerstone Investors - Key cornerstone investors include Guizhou New Industrialization Development Equity Investment Fund, Baoda Investment (Hong Kong) Limited, and Zhong Chuang Innovation Technology Group Co., Ltd. [3] - Other notable investors are Dongsheng Xianxing Technology, Guotai Junan Securities Investment (Hong Kong) Limited, and Hunan Xingxiang Emerging Industry Investment Fund [3]

本届赛事启动以来，在苏州市委人才办指导下，苏州市人社局牵头，各县级市（区）协同推进，广 泛发动并开展项目摸排、筛选与培育工作。比赛设新一代信息技术、高端装备、生物医药和高端医疗器 械、人工智能和机器人、新材料、新能源及综合6大赛道。经过分赛道初赛，共有78个项目晋级总决 赛。苏州有22个项目入围，占全省30%，涵盖所有6个赛道。经过激烈角逐，苏州选手获新材料、高端 装备、生物医药和高端医疗器械赛道等三大赛道一等奖，占全省一等奖数量的50%。 据苏州市人社局昨天（11月17日）消息，2025年中国江苏人才创新创业大赛（国内赛）决赛前天在 南京举行，苏州有22名选手参赛，其中3名选手获一等奖、4名选手获二等奖、8名选手获三等奖，获奖 人数占全省三分之一，列全省第一。 ...

Core Viewpoint - The U.S. stock market is at a critical technical crossroads, with bullish sentiment facing significant challenges as key support levels are under pressure [1][2]. Group 1: S&P 500 Index - The S&P 500 index is testing three critical support levels, with the first at approximately 6700 points, which includes the 50-day moving average and a trend line since May [2]. - If the 6700 level is breached, the market will test the second support at the recent low of 6631 points, followed by the third support at 6525 points [2]. - Analysts suggest that a breach of all three support levels would confirm a bearish trend reversal, with a potential bottom around 6150 points before early 2026 [2]. Group 2: Russell 2000 Index - The Russell 2000 index, representing small-cap stocks, exhibits the most concerning technical pattern among U.S. benchmarks, having fallen below key support levels [4]. - The index closed below the 2380-2390 point support range, failing to maintain bullish trend support and the 50-day moving average [4]. - Continued trading below these levels could confirm a bearish trend reversal, opening the door for a decline to mid-term support at 2214-2235 points [4]. Group 3: AI Sector - AI stocks, which have led the market this year, are under pressure but have not yet confirmed a bearish trend reversal as they remain above critical support at 79.88-80.00 points [5]. - A breach of this support could lead to further weakness, with potential declines to the 73.90 point gap and mid-term support around 70 points [5]. - If the index breaks down this quarter, the 70-73.90 range may serve as a bottom before early 2026 [5]. Group 4: Market Rotation - There are signs of market rotation as funds shift towards the healthcare sector, which has seen a rise to a target index of 1778 points [7]. - Analysts advise against chasing prices at current levels and recommend waiting for consolidation to buy on dips [7]. - The materials sector has also attracted some rotation funds but faces resistance in the 555-563 point range; failure to break this could lead to further declines towards mid-term support at 511-518 points [7].

证券之星消息，2025年11月13日飞凯材料（300398）发布公告称公司于2025年11月13日召开业绩说明会。 具体内容如下： 问：公司 2026 年有何发展规划？如何继续保持良好的发展趋势？ 答：您好，公司将会继续围绕有机合成技术和配方开发技术两项核心能力，在维持现有四个业务板块产品 营业收入业绩稳定增长的基础上，通过外延合作与自主研发相结合的方式，横向拓展产品矩阵。同时，利 用丰富的有机合成技术经验进行上游原料的垂直整合，进一步增强公司核心竞争力。感谢您对公司的关 注，谢谢！ 2、请介绍一下公司现金流状况。 您好，公司目前现金流充裕，具体数据请参阅公司最新披露的定期报告。感谢您对公司的关注，谢谢！ 3、请问公司如何鼓励科研人员创新？在激励制度方面做了哪些工作？ 您好，公司十分重视研发人员的创新工作，这是企业保持核心竞争力的关键。研发管理实践过程中，公司 摸索出一套切实可行的激励制度，以物质奖励与职业晋升路径相结合的方式，鼓励研发人员承担具有挑战 的创新项目。公司也积极提供内外部培训和技术交流会等机会，帮助研发人员持续提升。感谢您对公司的 关注，谢谢！ 飞凯材料（300398）主营业务：高科技制造领域适 ...

Core Insights - The article emphasizes the significant role of the Beijing Stock Exchange (BSE) in empowering innovative small and medium-sized enterprises (SMEs) amidst a backdrop of policy benefits and accelerated innovation [1] - The BSE has become a core window for observing the growth of Chinese SMEs and the deepening of capital market reforms, with nearly 950,000 qualified investors and various institutional funds creating a diverse ecosystem [1] Investment Opportunities - The BSE 50 Index, consisting of 50 representative stocks, is highlighted as a key investment direction, providing precise coverage of innovative SMEs and including many "hidden champions" in niche markets [1][4] - As of mid-2025, 40% of the BSE 50 constituents are specialized and innovative enterprises, and 88% are high-tech companies, indicating a strong focus on growth potential [1] Performance Metrics - The BSE 50 Index has shown a nearly 50% increase in 2025, outperforming major A-share indices and attracting significant investor attention [4][6] - The trading volume of the BSE 50 Index reached 44 times that of its initial establishment in 2022, indicating a substantial increase in liquidity [3][11] Policy Support - Continuous policy support is identified as a core driving force behind the BSE 50 Index's strength, with various reforms aimed at enhancing market ecology and efficiency [7] - The introduction of a new ETF for the BSE 50 is expected to inject over 20 billion yuan into the market, boosting investor confidence [7] Sector Focus - The BSE 50 Index primarily invests in strategic emerging industries such as power equipment, machinery, and electronics, which are crucial for traditional industry transformation and economic growth [8] - The focus on "hard tech" sectors like AI and renewable energy is expected to unlock growth potential in response to policy and market demand [8] Institutional Participation - Institutional funds have accelerated their investment in the BSE, with public funds holding over 10 billion yuan in BSE market capitalization by the end of Q3 2025, reflecting a significant year-on-year increase [9] - The diverse ecosystem formed by nearly 950,000 qualified investors and institutional funds has significantly enhanced market liquidity [9] Investment Strategies - The article discusses the introduction of the Zhongjia BSE 50 Enhanced Index Fund, which aims to balance risk and return through a dual strategy of passive tracking and active enhancement [17] - The fund employs a quantitative model that combines human expertise and AI to optimize stock selection and reduce volatility, catering to both conservative and aggressive investors [18][20]