作者 | 一财 阿驴 11:31 A股午盘丨沪指半日跌0.46% 截至午盘，沪指跌0.46%，深成指跌0.18%，创业板指涨0.3%。 2025.12. 11 本文字数：1219，阅读时长大约2分钟 沪深两市半日成交额1.16万亿，较上个交易日放量206亿。全市场超4200只个股下跌。 11:14 港股走低，恒指转跌，此前一度涨1%；恒生科技指数跌0.6%。 11:08 创新药概念局部活跃，海创药业涨超11%，前沿生物涨超8%，重药控股此前涨停。 10:57 沪深两市成交额突破1万亿，较昨日此时放量近100亿。 10:54 摩尔线程拉升涨超16%，股价超850元，总市值超4000亿元。 | K R | C摩尔-U 688795 | | 半导体 -0.16% | | 同行对比 | | --- | --- | --- | --- | --- | --- | | | 855.00 +120.00 +16.33% | | 资金分析(万元) | | ? 排名 | | 李比 | +57.86% | | 王力流入: 38 | | | | 5 | 857.99 | | 4909606P | 23% | 22% | | પ | ...

今日早盘，A股三大指数涨跌不一，沪指震荡下跌，创业板指冲高回落，此前一度涨超1%。 黄白线分化，微盘股指数跌超1.5%。沪深两市半日成交额1.16万亿，较上个交易日放量206亿。全市场超4200只个股下跌。 个股方面， 有着"国产 GPU 第一股"之称的摩尔线程股价再度大涨，首次突破 800 元大关，再创上市以来新高，盘中最高价为878.78元/股， 截至午间收盘，市值突破 4000 亿元大关。 | C摩尔-U(688795) | | | | | 2 | Q | | --- | --- | --- | --- | --- | --- | --- | | 12-11 11:41:51 沪 科 融 成 | | | | | | | | 857.70 mairy: | | | | | | 查看所属板块 > | | 次新股 +122.70 +16.69% | | | | 百元股 | | | | +0.58% | | | | -0.56% | | | | 今 开 729.00 | | 最 高 | 878.78 | 成交量 | | 10.4万手 | | 昨 收 735.00 最低 | | | 701.33 | 成交额 | ...

Market Overview - A-shares showed mixed performance with the Shanghai Composite Index down 0.46% to 3882.72 points, the Shenzhen Component Index down 0.18% to 13292.61 points, and the ChiNext Index up 0.3% to 3218.55 points, as of midday trading [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.16 trillion yuan, with over 4200 stocks declining [1] Sector Performance - The commercial aerospace sector continued to perform strongly, with stocks like Zai Sheng Technology achieving a four-day consecutive rise, and Sichuan Jinding and others hitting the daily limit [1] - The wind power equipment sector led the gains, with Goldwind Technology hitting the daily limit and other companies like Shuangyi Technology and Tai Sheng Wind Power also rising [1] - The computing hardware sector was active, with Fuxin Technology hitting a 20% limit up and Saiwei Electronics reaching a historical high [1] - Conversely, the retail sector saw significant declines, with companies like Maoye Commercial and Zhongbai Group dropping nearly 9% [1] Industry Insights - The precious metals sector maintained its strength, with companies like Shanjin International and Zhongjin Gold showing notable gains [2] - Wind power stocks showed resilience, with companies like Goldwind Technology and Dongfang Electric leading the rise, supported by a report indicating a 34 billion yuan operating cash flow for the wind power industry in Q3, an increase of 700 million yuan year-on-year [3] - The commercial aerospace sector remained active, with Blue Arrow Aerospace's supply chain covering over 600 suppliers across more than 90 cities, indicating strong growth potential [4] Institutional Perspectives - Shenwan Hongyuan suggested that the upcoming spring market may be a rebound within a high-level consolidation phase, with potential policy triggers expected in mid-December [5] - Zhongtai Securities indicated that the market is likely to maintain a consolidation pattern in early December, with a focus on fiscal policy expectations from the Central Economic Work Conference [6] -招商证券 highlighted that December to the end of the first quarter is a traditional important allocation window for insurance funds, recommending attention to policies promoting domestic demand and new industries [7]

每经AI快讯，12月11日，早盘三大指数涨跌不一，沪指震荡下跌，创业板指冲高回落，此前一度涨超 1%。黄白线分化，微盘股指数跌超1.5%。沪深两市半日成交额1.16万亿元，较上个交易日放量206亿 元。全市场超4200只个股下跌。从板块来看，商业航天概念延续强势，再升科技（603601）4连板，四 川金顶（600678）6天3板，华菱线缆（001208）、金风科技（002202）、银河电子（002519）等多股涨 停。算力硬件概念表现活跃，富信科技20cm涨停，赛微电子（300456）、新易盛（300502）盘中双双 创历史新高。下跌方面，零售集体下挫，茂业商业（600828）触及跌停。福建方向多股走弱，海欣食品 （002702）、舒华体育（605299）跌停。板块方面，电网设备、商业航天等板块涨幅居前，零售、房地 产等板块跌幅居前。截至收盘，沪指跌0.46%，深成指跌0.18%，创业板指涨0.3%。 ...

2025.12. 10 力度,深证成指表现主要受益于科技板块和消费板块的走强,创业板指"探底回升"特征,反 映出科技成长板块的韧性。 433家 HK 2841 家下跌 涨跌停比 :12 市场呈现涨跌互现、分化加剧格局。政策驱动 (海南封关、消费复苏) 与事件驱动 (国际银价 上涨)是核心逻辑,海南板块、零售板块、贵金 属板块、算力硬件领涨,银行板块、培育钻石、 有机硅、光伏设备有所回调。 两市成交额 ○万亿元▼ 6.56% 两市成交缩量,市场交投情绪有所降温。一方面 市场可能处于短期冲高后的调整期,资金获利 了结意愿增强;另一方面市场热点分散(如海南 板块、零售概念、算力硬件等板块轮动),缺乏 持续性主线,资金难以形成集中流入,交投活 跃度下降。 餐金情绪 主力资金净流出 3 3.68 Zizz 散户资金净流入 机构谨慎调仓,资金流出方向主要集中于科技、周期及消费电子等板块,商贸零售、汽车等板块吸引主力 资金布局,科技板块内部分化,AI应用端仍有资金承接,算力基础设施遭抛售,显示资金向业绩确定性更 高的方向迁移。散户短期投机与长期观望并存,资金活跃于零售、汽车等消费板块,黄金股吸引部分资金 流入,对算力、芯片 ...

Core Insights - The market showed mixed performance with major indices fluctuating, while sectors like Hainan, retail, computing hardware, and commercial aerospace were active [1][11] - Over 2800 stocks declined, with total trading volume at 1.78 trillion, down 125.4 billion from the previous day [1][11] Group 1: Computing Hardware - Nvidia received approval from Trump to export H200 to China, positively impacting companies like Moer Technology, Changfei Optical Fiber, and others [12][16] - Haiguang Information terminated its merger with Zhongke Shuguang, which is a negative development for Zhongke Shuguang as the previous merger offered a 20% premium [5][16] - The focus on optical interconnection continues, emphasizing both vertical (Scale-Up) and horizontal (Scale-Out) expansion strategies [6][16] Group 2: Commercial Aerospace - SpaceX is advancing its IPO plans with a target valuation of approximately 1.5 trillion [12][16] - New materials such as aluminum-tantalum composites are being introduced by companies like Yinbang and West Materials to address challenges in space computing [7][18] Group 3: Consumer Sector - The Ministry of Commerce proposed promoting the experience of "Pang Donglai," impacting companies like Yonghui Supermarket and Hainan Development positively [13][15] Group 4: Market Sentiment - The market exhibited cautious behavior ahead of the Federal Reserve's interest rate meeting, leading to a weaker early session [3][14]

Market Overview - On December 10, A-shares showed mixed performance with the Shanghai Composite Index down 0.23% to 3900.50 points, while the Shenzhen Component Index rose 0.29% to 13316.42 points, and the ChiNext Index slightly fell by 0.02% to 3209.00 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.78 trillion, with over 2800 stocks declining [1] Sector Performance - **Retail Sector**: The retail sector continued its strong performance, with stocks like Dongbai Group and Yonghui Supermarket hitting the daily limit. The National Retail Innovation Development Conference emphasized the importance of retail in driving domestic demand and high-quality development [2] - **Hainan Sector**: The Hainan sector saw significant gains, with stocks such as Hainan Ruize and Ronow Mountain reaching the daily limit. The upcoming full island closure operation of Hainan Free Trade Port on December 18 is expected to boost the sector [3] - **Precious Metals Sector**: The precious metals sector rose, led by companies like Xiaocheng Technology. Silver prices have increased by nearly 110% this year, with significant daily gains noted [4] Institutional Insights - **China Bank Securities**: The firm anticipates an early start to the "spring excitement" market, supported by funds and policies, with expectations of a bull market continuing into next year [5] - **Cinda Securities**: The firm suggests December may serve as a window for positioning in the cross-year market, although the timing for a market rally may not be immediate due to current high valuations [6] - **CITIC Securities**: The firm notes that before any unexpected changes in domestic demand, market fluctuations and structural opportunities will be the norm, with a focus on resource and traditional manufacturing sectors [7]

每经AI快讯，12月10日，市场探底回升，三大指数涨跌不一，深成指、创业板指盘中先后翻红，创业 板指此前一度跌超2%。沪深两市成交额1.78万亿元，较上一个交易日缩量1254亿元。盘面上，市场热 点快速轮动，全市场超2800只个股下跌。从板块来看，海南板块持续走强，罗牛山（000735）、海南瑞 泽（002596）等多股涨停。零售概念表现活跃，永辉超市（601933）3连板，茂业商业（600828）、中 央商场（600280）2连板。算力硬件概念回暖，新易盛（300502）再创历史新高，长飞光纤（601869） 涨停。下跌方面，银行板块走弱，招商银行、农业银行下挫。板块方面，海南、贵金属、零售等板块涨 幅居前，培育钻石、银行、有机硅等板块跌幅居前。截至收盘，沪指跌0.23%，深成指涨0.29%，创业 板指跌0.02%。 ...

Market Overview - A-shares experienced a decline, with the ChiNext index dropping over 1%, while sectors such as Hainan Free Trade Zone, retail, precious metals, and lithium mining led the gains [1] - The three major indices closed lower, with the Shanghai Composite Index down 0.72% at 3881.51 points, the Shenzhen Component Index down 0.56% at 13202.49 points, and the ChiNext Index down 1.23% at 3170.26 points [1][2][3] Sector Performance - Hainan Free Trade Zone stocks surged, with companies like Luoniushan and Hainan Ruize hitting the daily limit [1] - Retail stocks were active, with Yonghui Supermarket and Dongbai Group also reaching the daily limit [1] - Commercial aerospace concepts showed strength, with stocks like Holley Technology and Hualing Cable hitting the daily limit [1] - Banking stocks collectively fell, with China Merchants Bank dropping over 3% [1] Specific Stock Movements - Zhongke Shuguang (中科曙光) hit the daily limit down, while Moer Thread (摩尔线程) surged nearly 20% [1] - The stock of Moer Thread is set to release a new generation GPU architecture at the upcoming MUSA Developer Conference [6] Economic Indicators - In November, consumer spending continued to recover, with the Consumer Price Index (CPI) slightly decreasing by 0.1% month-on-month but increasing by 0.7% year-on-year, marking the highest growth since March 2024 [7] - The Producer Price Index (PPI) rose by 0.1% month-on-month, marking two consecutive months of increase, while year-on-year it decreased by 2.2% [7] Bond Market - Government bond futures saw a rise across the board, with the 30-year main contract up 0.35% and the 10-year main contract up 0.06% [8]

Market Overview - The Shanghai Composite Index fell by 0.72%, the Shenzhen Component Index decreased by 0.56%, and the ChiNext Index dropped by 1.23% [1] - The total market turnover was 1.15 trillion yuan, a decrease of 118.4 billion yuan compared to the previous day [1] Sector Performance - The computing hardware industry chain experienced a decline, with servers and storage leading the losses [1] - Sectors such as photovoltaic, superhard materials, AI applications, and consumer electronics saw significant declines [1] - Conversely, sectors like Hainan Free Trade Zone, outbound tax refunds, lithium mining, and retail concepts performed well against the trend [1] ETF Performance - In the ETF market, Invesco Great Wall Fund's S&P Consumer ETF and Invesco Great Wall Fund's NASDAQ Technology ETF rose by 2.07% and 1.97%, respectively [1] - The engineering machinery sector saw gains, with Da Cheng Fund's Engineering Machinery ETF increasing by 1.44% [1] - The satellite sector also rose, with China Merchants Fund's Satellite Industry ETF up by 1.16% [1] - Gold-related ETFs, including Yongying Fund's Gold Stock ETF and Huaxia Fund's Gold Stock ETF, both increased by 1% [1] Declining Sectors - The photovoltaic sector led the declines, with leading photovoltaic ETFs such as E Fund's Photovoltaic ETF and others falling by 2.84%, 2.71%, and 2.67% respectively [1] - The big data sector weakened, with Big Data ETF and Data ETF both declining by 2.5% [1]