沪指重回3900点，海南自贸港概念掀涨停潮；做多情绪高涨，期货市场贵金属掀涨停潮；多只CPO概念股获大额资金流入；中金公司：前期调整或已近尾 声，逢低布局成长风格。 【资金风向标】 多只CPO概念股获大额 【机构观点】 中金公司: 前期调整或 成长风格 华泰证券:"歇脚"后的 得 瑞银财富管理: 2026年 【市场回顾】 12月22日，A股放量上涨，沪指重回3900点。截至收盘，上证指数报3917.36点，涨0.69%；深证成指报13332.73点，涨1.47%；创业板指报3191.98点，涨 2.23%。沪深北三市全天成交18822亿元，较上个交易日放量1335亿元。 12月22日，日韩市场主要股指收盘上涨。日经225指数上涨1.81%，报50402.39点；韩国综合指数上涨2.12%，报4105.93点。 12月22日日间盘，国内商品期货主力合约多数收涨，其中贵金属板块强势上涨，沪银创新高，铂、钯涨停。 12月22日，30年期国债期货主力合约收跌0.28%。截至收盘，30年期国债期货（TL2603）报收111.980元，下跌0.310元，跌幅0.28%；10年期国债期货 （T2603）报收107.980元 ...

12月8日，A股量价齐升，日成交额重返2万亿元上方，资金偏爱科技股，创业板指大涨2.6%，超3400只个股收涨。其 中，"牛市旗手"券商板块回暖，共封装光学（CPO）等科技细分赛道飙升，"易中天"三只个股成交火爆。 受访人士表示，年末通常攻势偏弱，但宏观数据、微观流动性与产业趋势多方共振，市场动能仍有支撑，A股上行有 望延续。不过，结构性分化加剧，后续须紧盯政策落地节奏及增量资金能否持续进场。 日成交额突破2万亿元 交易量能明显放量，今日成交额增至2.05万亿元，上个交易日成交额为1.74万亿元，一扫上周缩量阴跌的颓势；杠杆 资金方面，截至12月5日，沪深京两融余额共计2.48万亿元。 盘面上主线清晰，科技股强势。CPO概念大涨近6%，半导体、电子元件、电子设备制造、光电子器件、PCB等涨势 喜人。不过，白酒、饮料、石油天然气、白色家电、煤炭、电力等传统股微跌。 | | 东财概念指數 | | | | 东财行业指数 | | | | A股市场模心指数 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ...

Core Viewpoint - The A-share market has shown a significant increase in both trading volume and price, with a daily turnover exceeding 2 trillion yuan, driven by strong performance in technology stocks and a rebound in the brokerage sector, indicating potential for continued upward momentum in the market [1][2][10]. Market Performance - The A-share market saw a daily turnover of 2.05 trillion yuan, up from 1.74 trillion yuan in the previous trading day, marking a recovery from a recent decline [2]. - Major indices closed higher, with the Shanghai Composite Index rising by 0.54% to 3924.08 points and the ChiNext Index increasing by 2.6% to 3190.27 points [2]. Sector Performance - The technology sector, particularly the CPO concept, experienced a surge of nearly 6%, with significant gains in semiconductor, electronic components, and optical electronics sectors [4][6]. - The communication sector led the gains, with notable stocks such as Tianfu Communication rising over 19% [5][9]. Investor Sentiment - Investor sentiment has been positively influenced by favorable macroeconomic data and liquidity conditions, with expectations of continued support for the A-share market [1][10]. - The non-bank financial sector's rise reflects market optimism regarding the recovery of the financial industry amid improving economic conditions [10][11]. Future Outlook - Analysts suggest that while the current market momentum is supported by various factors, structural differentiation is increasing, and future performance will depend on policy implementation and the sustainability of new capital inflows [1][11]. - The upcoming central economic work conference is anticipated to further influence market sentiment and activity, with expectations of continued policy support for economic recovery [12][13].

Market Overview - The A-share market opened positively on October 20, with all three major indices rising, particularly the ChiNext Index, which increased by over 3% [2] - The Shanghai Composite Index rose by 21.90 points, or 0.57%, closing at 3861.65 [3] - The Shenzhen Component Index increased by 241.87 points, or 1.91%, closing at 12930.81 [3] Sector Performance - The computing hardware sector led the market gains, with significant increases in CPO, electronic components, and semiconductor sectors [5] - Over 4200 stocks experienced price increases, indicating a broad market rally [5] Notable Stocks - CPO concept stocks saw a strong rally, with companies like Yuanjie Technology hitting a 20% limit up, and Tianfu Communication and Zhongji Xuchuang also showing significant gains [9] - In the Hong Kong market, major tech stocks such as NetEase, NIO, and Alibaba rose by over 4% [6] Specific Stock Movements - Yuanjie Technology reached a price of ¥433.92, marking a 20% increase [10] - Haike New Energy saw a 19.98% rise, reaching ¥31.22, with a trading volume of 16.79 million shares [20][22] - The stock of Yuanda Holdings experienced a dramatic fluctuation, hitting a limit up and then a limit down, showcasing high volatility [24] Conclusion - The overall market sentiment is bullish, particularly in the computing hardware and technology sectors, with significant movements in individual stocks reflecting investor optimism [5][9][24]

Market Overview - Major A-share indices collectively declined, with the Shanghai Composite Index falling by 1.25% to 3765 points, the Shenzhen Component Index down by 2.83%, the ChiNext Index dropping by 4.25%, and the STAR 50 Index decreasing by 6.08% [1] - The total trading volume for the day reached 2.58 trillion yuan, an increase of 186.2 billion yuan compared to the previous trading day [1] - Nearly 3000 stocks in the market experienced declines [1] Sector Performance - The CPO concept stocks suffered significant losses, with companies like Tianfu Communication, Taicheng Light, and Xinyi Sheng seeing declines of over 10% [1] - The semiconductor and memory chip sectors also faced substantial drops, with stocks such as Cambrian, Haiguang Information, and Huahong Technology falling by over 10% [1] - The communication equipment sector declined, highlighted by Cambridge Technology hitting the daily limit down [1] - PCB and electronic components sectors weakened, with stocks like Dongshan Precision and Hudian Shares also hitting the daily limit down [1] - Other sectors that saw significant declines included laser radar, photolithography machines, military industry, liquid cooling concepts, and small metals [1] Resilient Sectors - In contrast, the commercial retail and tax refund store sectors showed strength, with stocks like Guoguang Chain and Baida Group hitting the daily limit up [1] - The consumer sector performed well, particularly in dairy, prepared dishes, and food and beverage, with companies like Huanlejia and Anji Food also hitting the daily limit up [1] - The banking sector experienced fluctuations but trended upwards, with Agricultural Bank reaching a new high [1] - The pet economy sector saw a rise, with Yiyi Shares hitting the daily limit up [1] - Other sectors that performed well included outdoor camping, supply cooperatives, and tourism hotels [1]

Market Overview - Major A-share indices collectively adjusted, with the ChiNext Index and Shenzhen Component Index both falling over 2% [1] - As of the close, the Shanghai Composite Index fell 0.45% to 3858 points, the Shenzhen Component Index dropped 2.14%, and the ChiNext Index decreased by 2.85% [2] - The total trading volume for the day was 2.91 trillion yuan, an increase of 134.8 billion yuan compared to the previous trading day [1] Sector Performance - The CPO concept saw significant declines, with multiple stocks such as Guangxun Technology and Cambridge Technology hitting the daily limit down [2][4] - The communication equipment sector also fell sharply, with stocks like Dekoli and Dingtong Technology dropping over 13% [4] - Semiconductor stocks experienced notable declines, with companies like Lexin Technology and Shengke Communication falling over 12% [6] Notable Gainers - The robotics sector saw a counter-trend rise, with stocks like Sunny Optical and Tianming Technology experiencing gains of over 17% [7] - Bank stocks performed well, with Chongqing Rural Commercial Bank rising over 4% and several other banks following suit with gains of over 3% [9][10] - Precious metals stocks were active, with West Gold hitting the daily limit up and Hunan Silver rising over 4% [11] Future Outlook - UBS Securities analyst Meng Lei noted that there are currently no signs of large-scale retail investor entry into the A-share market, suggesting that market sentiment is not overheated [14] - The overall profit growth for A-shares in the first half of the year was approximately 3%, with an expected annual profit growth of around 6% for the year [14]