A-share market opening news flash | Index collectively adjusted! AI mobile phone concept remains active, leading stock breaks through 4 consecutive boards.

A-share three major stock indexes opened slightly lower, as of 9:40, the Shanghai Composite Index fell by 0.33%, the Shenzhen Component Index fell by 0.48%, and the ChiNext Index fell by 0.49%. On the market, AI mobile phone concept stocks continued to be active, with Daoming Optics & Chemical up for 4 consecutive days, Sichuan Furong Technology up for 2 consecutive days, and ZTE Corporation, Shenzhen Transsion Holdings Co., Ltd., and Telling Telecommunication Holding following the upward trend. In the retail sector, there were partial fluctuations, Maoye Commercial up for 5 consecutive days, Hefei Department Store Group hitting the limit up, and Wenfeng Great World Chain Development Corporation, Baida Group Co., Ltd., and Chengdu Hongqi Chain following the upward trend. Some local stocks in Fujian showed gains, with Zhongfu Straits, Fujian Rongji Software hitting the limit up, Strait Innovation Internet up by more than 10%, and Fujian Zhangzhou Development, FULONGMA GROUP, and Xiamen XGMA Machinery following the upward trend. Leading the declines were the fishing, metallurgical raw materials, and energy metal sectors. Looking ahead, Huaan stated that December will see high-level fluctuations, with the market continuing to wait for new opportunities in high-level fluctuations. Rapid industry rotation may still be the main theme, and it is recommended to focus on the AI industry chain and areas of economic improvement. Hot Sectors: 1. AI mobile phone concept remains strong AI mobile phone concept stocks continued to be active, with Daoming Optics & Chemical up for 4 consecutive days, Sichuan Furong Technology up for 2 consecutive days, and ZTE Corporation, Shenzhen Transsion Holdings Co., Ltd., and Telling Telecommunication Holding following the upward trend. Institutional Views: 1. China Galaxy: A-share style frequently switching, focusing on defensive sector configuration opportunities Looking ahead to December, the market is still in a phase of frequent style switching, primarily focusing on structural market trends. On one hand, as the most crucial policy window at the end of the year, the Central Economic Work Conference will clarify the policy main line for 2026, with a focus on key deployments in technology innovation, expanding domestic demand, anti-inventory, and stabilizing the real estate sector. On the other hand, a series of industry conferences may become important catalysts for thematic market trends, with a focus on upcoming events such as the 2025 "Artificial Intelligence+" industry ecosystem conference and brain-machine interface conference. The external environment still presents uncertainties, and attention should be paid to the potential impact of the December Federal Reserve interest rate meeting on global market liquidity. In the year-end style rotation, attention should be given to defensive sector configuration opportunities while focusing on the layout of next year's economic direction. 2. China Securities Co., Ltd.: Timing for layout, preparing for the year-end market movement China Securities Co., Ltd. believes that although the market may still experience short-term volatility, any downturn would be seen as a better opportunity for layout. In the short term, the strategy is mainly focused on timing for layout, preparing for the year-end market movement. Stay watchful on the Federal Reserve interest rate meeting after December 10 and the Central Economic Work Conference, it is recommended to add positions at low levels before the meetings, and pay attention to the semi-annual support and market volume situation. The main reasons for the year-end market movement include: the spring frenzy driven by consensus, the potential confirmation signal of improved liquidity from the Federal Reserve interest rate cut, expectations for the policy launch year of the "Fifteenth Five-Year Plan", and similarities to the year-end market movement in December 2020. Considering the industry outlook for 2026, we believe that AI (Chief Product Officer, AI applications, liquid cooling), new energy (energy storage, solid-state batteries, nuclear power), innovative drugs, mechanical equipment (human-like Siasun Robot & Automation, automation equipment), non-ferrous metals, and the chemical industry are likely to be the major sectors for the year-end market movement. Additionally, opportunities in the Hong Kong Internet and commercial aerospace sectors should be considered. Key industry focus: non-ferrous metals (copper, silver), AI (communications, computers), new energy, innovative drugs, mechanical equipment, Hong Kong Internet, chemical industry, etc. Theme focus: commercial aerospace. 3. Huaan: Continued fluctuations, waiting for new opportunities The Central Economic Work Conference is expected to roughly meet expectations, the Federal Reserve is expected to raise interest rates, and there may be a marginal withdrawal of micro liquidity. Economic fundamentals continue to slow down, and the market continues to fluctuate at high levels. In terms of configuration, industry rotation may accelerate, making it more challenging to grasp, therefore the next phase of market movement may be a better choice. The core position of the AI industry chain remains unchanged, with recent adjustments providing a good opportunity for layout. Additionally, areas of supply and demand recovery and economic improvement should also be emphasized, including storage and energy storage chains. Looking ahead to December, we predict continued high-level fluctuations, with a lack of significant events leading to risk appetite increase, and the market may continue to wait for new opportunities in high-level fluctuations. In terms of configuration strategy, sectors with strong previous gains continue to consolidate, rapid industry rotation may still be the main theme, but it is more difficult to grasp. Therefore, in this background, reducing rotation and strengthening patience would be a better approach for future layout. Specifically, the AI industry trend is clear, with short-term adjustment pressures providing a good opportunity for the next phase of the market movement. This core theme remains unshakeable. In addition, areas of supply and demand improvement and economic upturn should also be emphasized. Overall, it is recommended to focus on the AI industry chain and areas of economic improvement. This article is reprinted from "Tencent Select Stocks", GMTEight editor: Chen Xiaoyi.