Nasdaq 100 Index announced the annual adjustment results of constituent stocks: Palantir, MicroStrategy and Axon will be added to the index, while Illumina, supercomputer and Moderna will be removed.Funds continue to enter the market through the channel. The net subscription of stock ETFs exceeded 36.5 billion in the month. Since December, funds have continued to enter the market through stock ETFs (transactional open index funds). Wind information data shows that as of December 13, the net subscription share of stock ETFs in the month reached 36.543 billion. From the perspective of specific capital flow, broad-based ETFs attract gold strongly, and many CSI A 500 ETFs and CSI 300ETF are actively subscribed by investors. In addition, dividend ETFs are also net subscribed by investors. (Securities Daily)When meeting with Bona, the foreign affairs adviser to the French President, He Lifeng pointed out that the stable and healthy development of economic and trade relations should be promoted through high-level openness to achieve mutual benefit and win-win. He Lifeng, member of the Political Bureau of the Communist Party of China (CPC) Central Committee and Vice Premier of the State Council, met Bona, the foreign affairs adviser to the French President, at the Great Hall of the People on the evening of 13th. He Lifeng said that China has always regarded France as a priority partner in its development. China is willing to work with France to implement the consensus of the two heads of state, strengthen strategic dialogue, deepen cooperation in traditional fields, expand cooperation in emerging fields, promote the stable and healthy development of China-France and China-EU economic and trade relations with a high level of openness, better cope with common challenges, and achieve mutual benefit and win-win results. Bona said that France supports promoting open cooperation through constructive dialogue and is willing to work with China to promote the sustained, balanced and high-quality development of economic and trade cooperation between the two countries. (Xinhua News Agency)
National Development and Reform Commission (NDRC): More active and promising macro policies will be implemented next year. The reporter learned from the National Development and Reform Work Conference held by NDRC yesterday (13th) that in order to fully implement the spirit of the Central Economic Work Conference, countercyclical adjustment of macro policies will be intensified next year, so as to solidly promote economic stability, structural improvement and development trend. The relevant person in charge of the National Development and Reform Commission said that a more active and promising macro policy will be implemented next year to enhance the consistency of macro policy orientation. It will expand domestic demand in all directions. Accelerate the "two-fold" construction, expand effective investment, make good use of all kinds of construction funds such as central budget investment, ultra-long-term special national debt, and new local government special debt, promote the formation of more physical workload as soon as possible, and continue to promote the introduction of private capital into major projects. We will do a good job in the "two new" work, implement special actions to boost consumption, and promote consumption expansion, quality improvement and efficiency improvement. It will promote the further comprehensive deepening of the implementation of reform measures, organize the implementation of the "Guidelines for the Construction of a National Unified Big Market (Trial)", revise and introduce a new version of the negative list of market access, and deeply break down market access barriers. Promote the private economy promotion law as soon as possible. In addition, we will accelerate the construction of a modern industrial system and promote the upgrading of key industries. Vigorously support the high-quality development of manufacturing industry and comprehensively rectify the "involution" competition. (CCTV News)Market News: The Chief Veterinary Officer of USDA said that USDA does not expect to complete the necessary steps to resume importing Mexican cattle before the end of the holiday.Hong Kong stocks ushered in the "structural bull" and the future valuation center is expected to rise. Since late September, the policy combination boxing has exceeded expectations, and the Hang Seng Index has taken advantage of the trend. As of the close of December 13th, the Hang Seng Index has risen by 17.15% this year, which is the first time since 2020. In terms of sectors and individual stocks, it is one after another, constantly deducing "structural cattle". Wind's statistics show that since the beginning of this year, a total of 333 stocks have increased by more than 50%, of which 142 stocks have doubled, and Quanzhi International has increased by more than 10 times this year. Eight stocks including Boya Interactive, Wanshun Ruiqiang Group, Zheli Holdings, Honghao International Holdings and Shanghai Qingpu Fire Protection have also increased by more than 5 times. For the trend of Hong Kong stocks in 2025, Guotai Junan Hong Kong believes that the Federal Reserve will continue to cut interest rates in 2025, and the valuation center of Hong Kong stocks will continue to improve marginally. Looking ahead, Hong Kong stocks will remain volatile and investors need to pay attention to structural industry opportunities. In its view, the Hong Kong stock market is dominated by "N"-shaped upward volatility, and there are many flexible opportunities in the stage, but we should pay attention to actively looking for structural industry opportunities. (Securities Times)
Minsheng Securities: In 2025, the banking sector grasped three main lines. The Minsheng Securities Research Report pointed out that it is expected that the revenue growth rate of listed banks will remain under pressure and profits will maintain positive growth in 2025. Restricted by factors such as the slowdown of scale expansion, the pressure of narrowing the net interest margin, and the marginal reduction of the contribution of financial investment to revenue, there is still pressure on the year-on-year growth of listed banks' revenue in 2025. However, with the gradual progress of local debt resolution, the real estate package policy has gradually become effective, and the hidden risks of banks in real estate and urban investment assets are expected to be effectively alleviated, and banks can maintain a low level of impairment provision, which supports profit performance. Grasp three main lines: 1) low-valued stock banks: it is recommended to pay attention to China Merchants Bank, Industrial Bank and Shanghai Pudong Development Bank; 2) High-quality rural commercial banks in regional cities: banks benefiting from chemical bonds. It is recommended to pay attention to Chongqing Rural Commercial Bank, Chongqing Bank and regional high-quality banks, and Qilu Bank, Chengdu Bank, Changshu Bank and Hangzhou Bank. 3) High dividend banks: In the process of economic recovery, high dividend strategy has absolute income stability, so it is suggested to pay attention to state-owned big banks, Nanjing Bank and Shanghai Rural Commercial Bank.Zhongjin's fixed income: the financing demand is weak under the background of debt conversion, and the monetary policy needs to continue to increase. Zhongjin's fixed income commented on the financial data in November, saying that it is expected that the currency will be loose or significantly accelerated next year, while the short-term interest rate may have a large downside. Under the background of slow real estate recovery, the domestic economy has stabilized relatively moderately, and the long-term interest rate has been affected or relatively limited. Next year, monetary and fiscal cooperation will be closer, and the supply factor of government bonds may not have much disturbance to the long end. Recently, the market has fully priced loose expectations, and the long-term interest rate has dropped rapidly. Next year, with the RRR cut, the short-term interest rate will fall or accelerate, and the yield curve will move down sharply.China Seismological Network officially determined that a 6.3-magnitude earthquake occurred in central Chile (35.30 degrees south latitude and 70.70 degrees west longitude) at 07: 38 on December 14th with a focal depth of 110 kilometers.
Strategy guide
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14