盘面上，午后市场交投清淡，部分资金继续选择潜伏商业航天周末大消息，零售、电网设备、影视股局 部活跃，指数层面波澜不惊。全天超4000股飘红，板块方面，福建、海南、锂矿板块涨幅居前，银行、 维生素、中药股逆势飘绿。 本月沪指累计跌1.67%，月中续创十年新高后震荡回落，终结月线六连阳。 创业板指本月累计跌4.23%，创业板指、深成指呈现"先抑后扬"的整体格局，随着11月下旬算力硬件概 念的带动下，逐步小幅修复前期跌幅。 从板块来看，本月热点轮动加快，市场热点主要集中在电池产业链、海南、福建、算力硬件等方向。 截至收盘，A股11月行情正式收官。 11月28日，大盘全天窄幅震荡，量能降至近4个月地量水平。 日线来看，今天市场延续了本周以来的缩量修复态势，成交额（1.6万亿元）创出9月份以来新低，指数 飘红但涨幅都不大。 个股情绪的回暖更为明显，全天涨停家数大致"单边上行"。 周线来看，大盘对上周阴线的修复整体行至半途，偏科技成长的创业板、科创板及其他宽基指数比较领 先。 | F9 不复权 超级叠加 画线 工具 砂 | 全A平均股价 | | 8841719 | | --- | --- | --- | --- | | ...

Core Insights - The recent press conference by the National Development and Reform Commission indicates a shift in the engine of China's economic development [1] - Emerging fields such as quantum technology, brain-computer interfaces, and nuclear fusion energy are identified as "new economic growth points," emphasizing their transformation into economic benefits [3][5] - The inclusion of hydrogen energy and nuclear fusion energy in the latest recommendations signals their critical roles in energy transition [10] Quantum Technology - Hefei ranks second globally in quantum industry, with three-quarters of leading companies located there, supported by the University of Science and Technology of China [7] - Key applications for quantum computing include financial modeling, drug development, and materials design, with Beijing and Shanghai focusing on practical applications [9] - Beijing aims for a complete industrial chain in hydrogen energy, while Shanghai leads in practical applications with significant data on fuel cell vehicles [11] Hydrogen Energy - Hydrogen energy is positioned as a future clean energy source, though its technology is not fully mature, presenting challenges for large-scale application [10] - Beijing's strategy involves a comprehensive approach to the hydrogen industry, while Shanghai demonstrates practical applications with substantial mileage data [11] - Cities like Guangzhou and Shenzhen are also making significant investments and advancements in hydrogen energy projects [11] Brain-Computer Interfaces - Brain-computer interface technology has rapidly developed, with Shanghai covering all technical routes and Beijing focusing on non-invasive applications [12][13] - Shenzhen is targeting commercial applications, with major companies planning to launch multiple application scenarios by 2026 [13] - The overall market for brain-computer interfaces remains in its early stages, with uncertain future developments [13] Humanoid Robots - The development of humanoid robots in China has gained attention, with significant contributions from institutions like Tsinghua University and Peking University [14] - Shenzhen leads in the number of industry chain enterprises, with a total output value of 170 billion yuan, while Shanghai aims to create a complete ecosystem for humanoid robots [14] - The success of companies like the one in Hangzhou is attributed to long-term technological accumulation [14] 6G Technology - Although not yet commercialized, countries are actively laying the groundwork for 6G technology, with Beijing focusing on standardization and Shenzhen on practical applications [15] - Nanjing's achievements in terahertz communication demonstrate significant technological capabilities [15] - Cities like Chengdu and Wuhan are developing 6G technology but lag behind Beijing and Shanghai [15] Interconnected Technologies - Technologies such as quantum technology, bio-manufacturing, hydrogen and nuclear fusion energy, brain-computer interfaces, and 6G are interconnected, forming the underlying logic of future economies [16] - Cities that strategically invest in these fields are positioned to become leaders in the next era of competition [16][17]

Core Viewpoint - The market in May showed a pattern of fluctuating trends with rapid sector rotation, indicating a lack of sustained momentum and clear profit-making opportunities. The expectation for June is a shift towards large-cap growth stocks, with core assets expected to show early signs of profit recovery [1]. Group 1: Market Trends - In May, various sectors were frequently speculated upon, including Huawei's HarmonyOS, military aircraft, and innovative drugs, reflecting poor market sustainability and rapid rotation among sectors [1]. - The anticipated market style for June is a transition to large-cap growth, with a focus on core assets showing profit inflection points [1]. Group 2: Emerging Hot Topics for June - **Low-altitude Economy**: Recent policies in regions like Sichuan and Shandong support low-altitude economic development, including a 30 billion yuan special fund and the establishment of 400 digital takeoff and landing platforms [3]. - **AI and Robotics**: Significant breakthroughs in AI technology have been noted, with advancements in models from Anthropic and Google, as well as ongoing optimizations in domestic models like Baidu's Wenxin and iFlytek's Spark [5]. - **6G Technology**: The global research on 6G technology standards has officially commenced, with China leading the development process, aiming to complete the first version of technical specifications by 2029 [6]. - **Semiconductor Self-sufficiency**: The U.S. has intensified semiconductor export controls against China, prompting accelerated domestic alternatives and a notable increase in the domestic EDA tool localization rate to 35% within a week [7]. - **Federal Reserve Policy Shift**: The upcoming Federal Reserve meeting is expected to provide economic outlooks, with market speculation leaning towards potential interest rate cuts in late 2025, which could benefit high-debt sectors like real estate and consumer goods [8]. Group 3: Key Companies and Sectors - **Low-altitude Economy**: Key players include SF Holding (drone delivery network), Zhongyun Drone (military-to-civil technology), and Huace Navigation (low-altitude smart network) [3][4]. - **AI and Robotics**: Core companies include Zhongke Shuguang (computing chips), Inspur Information (servers), and Keda Xunfei (AI applications in education and healthcare) [5][4]. - **6G Technology**: Major companies involved are ZTE Corporation (base station equipment) and China Satellite Communications (satellite manufacturing) [6][4]. - **Semiconductors**: Key firms include Zhongwei Company (etching machines) and Zhaoyi Innovation (NOR Flash) [7][4]. - **Real Estate and Gold**: Notable companies are Poly Development (state-owned enterprise reform) and Shandong Gold (benefiting from rising gold prices) [8][4].