A-share morning market express | Shanghai Composite Index rose 0.09%, precious metals continued to be strong.

A-shares three major stock indexes collectively opened higher, with the Shanghai Composite Index up 0.09% and the ChiNext Index up 0.05%. On the market, precious metals continued to be strong, with Zhaojin International Gold up nearly 2%; Fujian, software development and other sectors leading the decline. Institutions' outlook on the future market Shenwan Hongyuan Group: The spring market may be a small-scale market Shenwan Hongyuan Group believes that the level and positioning of the spring market remain unchanged, and the spring market may be a small-scale market. For the overall market, the spring market may be a rebound in the high-level volatile market. For oversold technology stocks, it may be a rebound that completes the adjustment and transitions to a volatile stage. The policy layout period will start in mid-December, with an early start for insurance policies, which may trigger the spring market. Zhongtai: Market is expected to remain in a consolidation phase Zhongtai believes that caution should be maintained in early December due to short-term disturbances. Influenced by factors such as the possibility of a hawkish signal from the Federal Reserve's interest rate meeting, institutions' conservative positioning tendencies at the end of the year, the market is expected to remain in a consolidation phase. At this stage, the market's focus may be on the fiscal policy expectations of the Central Economic Work Conference. If the deficit rate and fiscal expenditure intensity are pre-positioned as expected by the market, small and medium-sized companies, as well as more flexible consumer sectors (such as cultural tourism, offline retail, etc.) may have temporary trading opportunities. Orient: Market turnaround still relies on improved sentiment and increased trading volume Orient believes that despite increasing discussions on favorable policies such as housing loan interest subsidies in the market recently, the industry as a whole is still in an adjustment period, and stock price reversals will take time. Overall, in the short term, the market is still in a daily chart level adjustment process, with the Shanghai Composite Index consolidating around 3900 points. Hot spots are only concentrated in regional sectors such as aerospace, military, and Hainan Fujian. The market turnaround still relies on improved sentiment and increased trading volume. This article is reprinted from "Tencent Stock Selection", edited by GMTEight: Xu Wenqiang.