Market Overview - In November, A-shares and Hong Kong stocks experienced a trend of high-low switching, with the ChiNext Index down 4.23% and the Hang Seng Tech Index down 5.23%[5] - The market's focus shifted towards defensive sectors as funds moved from high-valuation growth stocks to low-valuation cyclical stocks and dividend assets[5] Investment Strategy - December's market is expected to maintain an upward trend, with a short-term oscillating structure anticipated[5] - Key events include the Central Economic Work Conference and various industry conferences that may create investment opportunities[5] Key Investment Themes - Focus on "anti-involution" policies which are expected to improve industry performance, particularly in resource sectors benefiting from rising commodity prices[5] - Emphasis on overseas expansion themes, with Chinese high-end manufacturing expected to gain market share globally[5] Recommended Stocks - Zijin Mining (601899.SH) projected EPS growth from 1.21 in 2024 to 2.83 in 2027, with a PE ratio decreasing from 23.62 to 10.10[7] - Electric Power Investment (002128.SZ) expected to see EPS rise from 2.38 in 2024 to 2.75 in 2027, with a PE ratio decreasing from 10.9 to 9.45[27] Financial Performance - Zijin Mining's revenue is projected to grow from 303.64 billion yuan in 2024 to 381.84 billion yuan in 2027, with a net profit increase from 32.05 billion yuan to 75.22 billion yuan[18] - Electric Power Investment's revenue is expected to increase from 298.59 billion yuan in 2024 to 371.25 billion yuan in 2027, with net profit rising from 5.34 billion yuan to 6.17 billion yuan[27] Risk Factors - Risks include unexpected policy changes, underperformance in commercialization, and slower-than-expected product development[5]

融资融券数据显示，该股最新（12月4日）两融余额为10.29亿元，其中，融资余额为10.23亿元，融券余 额为583.04万元。近5日融资余额合计减少3834.91万元，降幅为3.61%。融券余额合计增加20.68万元， 增幅3.68%。 大众公用(600635)今日下跌9.73%，全天换手率17.86%，成交额32.85亿元，振幅12.03%。龙虎榜数据显 示，沪股通净卖出5698.88万元，营业部席位合计净卖出9498.24万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交5.95亿元，其中，买入成交额为2.21亿 元，卖出成交额为3.73亿元，合计净卖出1.52亿元。 具体来看，今日上榜的营业部中，沪股通为第二大买入营业部及第二大卖出营业部，买入金额为 4691.58万元，卖出金额为1.04亿元，合计净卖出5698.88万元。 近半年该股累计上榜龙虎榜10次，上榜次日股价平均跌1.67%，上榜后5日平均涨2.41%。 资金流向方面，今日该股主力资金净流出4.25亿元，其中，特大单净流出3.49亿元，大单资金净流出 7542.69万元。近5日主力资金净流出5.86亿元。 上交所公开信息显示， ...

Market Overview - The Shanghai Composite Index rose by 0.70% on December 5, with 29 out of the 31 sectors in the Shenwan classification experiencing gains, led by non-bank financials and non-ferrous metals, which increased by 3.50% and 2.84% respectively [1] - The communication sector also saw an increase of 1.23% [1] - The banking sector was the only one to decline, with a drop of 0.58% [1] Capital Flow - The net inflow of capital in the two markets reached 16.316 billion yuan, with 20 sectors experiencing net inflows [1] - The non-bank financial sector had the highest net inflow of 4.487 billion yuan, followed by the non-ferrous metals sector with a net inflow of 3.781 billion yuan [1] - Conversely, 11 sectors experienced net outflows, with the household appliances sector leading with a net outflow of 1.202 billion yuan, followed by the media sector with a net outflow of 1.04 billion yuan [1] Communication Sector Performance - The communication sector had a net inflow of 2.729 billion yuan, with 106 out of 124 stocks in the sector rising, including 3 stocks hitting the daily limit [2] - The top three stocks with the highest net inflow were Shida Group (1.135 billion yuan), Yongding Co. (962 million yuan), and Taicheng Light (553 million yuan) [2] - Eight stocks in the communication sector experienced net outflows exceeding 100 million yuan, with ZTE Corporation leading at 955 million yuan [3] Communication Sector Capital Inflow - The top stocks in the communication sector by capital inflow included: - Shida Group: +9.93%, turnover rate 36.14%, inflow 1.134 billion yuan - Yongding Co.: +10.03%, turnover rate 13.55%, inflow 962 million yuan - Taicheng Light: +9.25%, turnover rate 21.27%, inflow 553 million yuan [2] Communication Sector Capital Outflow - The top stocks in the communication sector by capital outflow included: - ZTE Corporation: -2.26%, turnover rate 4.12%, outflow 954.91 million yuan - Zhongji Xuchuang: +0.29%, turnover rate 2.56%, outflow 567.94 million yuan - Xinyi Sheng: +0.87%, turnover rate 4.00%, outflow 407.15 million yuan [3]

Market Performance - The A-share market experienced slight fluctuations in the morning, followed by a collective rise in the afternoon, with the Shanghai Composite Index closing up 0.7% at 3902 points, the Shenzhen Component Index up 1.08%, and the ChiNext Index up 1.36% [1] - The total market turnover reached 1.74 trillion yuan, an increase of 177.3 billion yuan compared to the previous trading day, with nearly 4400 stocks rising [1] Index Summary - Shanghai Composite Index: 3902.81 (+27.01, +0.70%) [2] - Shenzhen Component Index: 13147.68 (+140.96, +1.08%) [2] - ChiNext Index: 3109.30 (+41.81, +1.36%) [2] - CSI 300: 7097.84 (+37.97, +0.84%) [2] - CSI 500: 5513.75 (+85.03, +1.21%) [2] - CSI 1000: 7342.49 (+93.84, +1.29%) [2] Sector Performance - The insurance sector saw significant gains, with China Ping An (601318) being added to a key focus list by Morgan Stanley, leading to a nearly 6% increase in its stock price, while China Pacific Insurance (601601) rose nearly 7% [3] - The commercial aerospace sector also performed well following the successful launch of Blue Arrow Aerospace's Zhuque-3, with stocks like Aerospace Development (000547) and Aerospace Science and Technology hitting the daily limit [3] - The superconducting concept stocks surged, with Yongding Co. (600105) reaching the daily limit [3] - The controllable nuclear fusion sector strengthened, with stocks like Changguang Huaxin also hitting the daily limit [3] - Other sectors that performed well included precious metals, non-ferrous metals, satellite internet, and those related to Fujian [3] - Conversely, bank stocks declined, with Chongqing Bank leading the losses, and the public utilities sector weakened, with Lianmei Holdings (600167) nearing the daily limit down [3] - The tourism, hotel, and traditional Chinese medicine sectors experienced notable declines [3]

资金净流入 涨幅榜 5日涨幅ł 保险 林木 能源设i +5.80% +2.939 +3.87% 包装 基本金属 券商 +2.67% +2.61% +2.579 | 上证指数 | 深证成指 | 北证5C | | --- | --- | --- | | 3902.81 | 13147.68 | 1408.3 | | +27.01 +0.70% +140.96 +1.08% +21.06 +1 | | | | 科创20 | 创业板指 | 万得全/ | | 1326.10 | 3109.30 | 6250.6 | | -0.06 0.00% +41.81 +1.36% +70.62 +1 | | | | 沪深300 | 中证500 | 中证A5( | | 4584.54 | 7097.84 | 5513.7 | | +37.97 +0.84% +85.03 +1.21% +52.00 +0 | | | | 中证1000 | 中证2000 | 中证红 | | 7342.49 | 3100.31 | 5557.9 | | +93.84 +1.29% +56.78 +1.87% +5.01 +0 | | | A股三大指数今 ...

3900点整数关遇阻回落后，维持缩量盘整态势。 周四A股继续维持缩量盘整态势，在冲击3900点未果后，市场短期内缺少继续上攻的驱动力，市场交 投清淡，成交量再度萎缩至1.6万亿以下。临近年底，投资者参与交易的热情有所下降，在"落袋为安"的心理影响下，近期市场总体呈现缩量震荡的格 局。预计盘局在未来数周内不会发生明显变化。 热点板块： 12月红利和涨价方向占优，2026年依然关注科技。预计12月在市场进入震荡期后，红利和涨价受益板块将阶段性占优，短期内可关注银 行、公用事业、煤炭、有色金属等。2026年科技仍然是市场主线，在经历阶段性休整后，可关注AI、锂电池、军工、机器人等板块。关注：1）AI硬件的 产业趋势仍然确立，并且主要AI大模型的tokens调用量持续走高。这意味着AI应用的高峰将在2026年出现，继续关注AI硬件的高增长趋势和AI应用从量变 到质变到来的机会。2）机器人国产化和走进老百姓生活依然是 2026 年比较确定的趋势，机器人产品将从人形机器人向四足机器人、功能型机器人扩展。 以此带来的传感器、控制器、灵巧手等板块的阶段性机会将会反复出现。市场预期特斯拉人形机器人版本有可能更新，或将成为机器人 ...

人民财讯12月5日电，中共山西省委关于制定国民经济和社会发展第十五个五年规划的建议发布。其中 提到，深化国资国企改革，做强做优做大国有企业和国有资本，推进国有经济布局优化和结构调整，完 善国资管理监督体制机制，健全国有企业分类考核评价体系，增强国有企业核心功能、提升核心竞争 力。推动省属国有企业当好转型发展的主力军。深化与央企全方位战略合作。推进全省能源、水利、公 用事业等行业自然垄断环节独立运营和竞争性环节市场化改革。 ...

智通财经APP讯，滨海投资(02886)发布公告，于2025年12月4日该公司斥资6780港元回购6000股，回购 价格为每股1.13港元。 ...

Choice统计显示，12月4日，沪深两市可交易A股中，上涨个股有1410只，下跌个股有3641只，平盘个 股有107只。不含当日上市新股，共有40只个股涨停，28只个股跌停。从所属行业来看，涨停个股主要 集中在机械设备、轻工制造、电子、公用事业、建筑装饰等行业。 （原标题：今日40只个股涨停 主要集中在机械设备、轻工制造等行业） ...

今日午后，港股震荡上行，机器人、创新药、互联网板块集体走强，截至15:07，恒生科技指数上涨 1.7%，恒生港股通高股息低波动指数接近走平。截至目前，南向资金已连续29周净买入，年内净买入 额近1.4万亿港元，持续刷新互联互通机制开通以来的最高纪录。 恒生科技指数由港股上市公司中与科技主题高度相关的、市值最大的30只股票组成，聚焦人工智能、机 器人、互联网等高成长赛道，实现AI方面"软硬协同"布局。恒生港股通高股息低波动指数则由港股通范 围内50只流动性较好、连续分红、红利支付率适中且波动率较低的股票组成，能源、金融、公用事业行 业合计占比过半，指数当前股息率达6.5%。 看好港股配置机会的投资者，可借助恒生科技ETF易方达（513010）、恒生红利低波ETF（159545）等 产品构建攻守兼备的投资策略。 光大证券指出，港股整体盈利能力较强，互联网、新消费、创新药等资产相对稀缺，估值偏低，长期配 置性价比高，在AI产业趋势及美联储12月可能降息背景下，港股有望继续震荡上行；可关注科技成长 及高股息"哑铃"策略，包括自主可控、芯片、高端制造及通信、公用事业等高股息行业。 ...