A-share market review: Three major indexes collectively closed lower, funds switching between high and low! Consumer sector explodes against the trend.

Today, the overall market showed weakness and fluctuated. By the close, the three major indexes collectively fell. Funds switched between high and low, focusing on defensive sectors such as consumer goods, insurance, while the AI industry chain saw significant adjustments. The market had a total turnover of 1.7 trillion for the whole day, decreasing by nearly 300 billion compared to the previous trading day. Overall, more stocks fell than rose in both markets. In terms of the market, the insurance sector surged again, with Ping An Insurance rising by nearly 5% and reaching a trading volume of over 10 billion, marking a new high in over 4 years. Stocks like China Pacific Insurance and New China Life Insurance also followed suit. On the news front, the China Banking and Insurance Regulatory Commission recently issued a notice adjusting the risk factors for insurance companies investing in Shanghai and Shenzhen 300 Index component stocks, CSI Dividend Low Volatility 100 Index component stocks, and stocks in the Science and Technology Innovation Board. The consumer goods sector fluctuated and rose, with retail and food and beverage branches being active. Several stocks like Baida Group Co., Ltd. and Huanlejia Food Group hit the daily limit. In terms of news, the People's Bank of China and two other departments jointly issued a notice to strengthen the coordination between commerce and finance to boost consumer spending. In other hot spots, the commercial aerospace concept was active, with Tongyu Communication Inc. hitting the limit up; the coal sector rose against the trend, with Shanxi Antai Group also hitting the limit up; the controlled nuclear fusion concept continued to be strong, with Fujian Snowman Group and Hunan Valin Wire & Cable hitting the limit up for three consecutive days; consumer electronics, CPO, Siasun Robot & Automation, and other technology themes declined. Looking at individual stocks, there were 2314 gainers and 2968 decliners in both markets, with 175 stocks remaining unchanged. There were 66 limit-up stocks and 27 limit-down stocks in total. By the close, the Shanghai Composite Index fell by 0.55% to 3867.92 points, with a turnover of 764.6 billion yuan; the Shenzhen Component Index fell by 1.10% to 13112.09 points, with a turnover of 100.88 billion yuan. The ChiNext Index fell by 1.77% to 3137.80 points. Capital flows focused on aerospace equipment, insurance, and beverage and dairy sectors today, with top net inflow stocks including Beijing LeiKe Defense Technology, China Aerospace Times Electronics, and Sunwave Communications. In news recap: 1. Kweichow Moutai responded to reports of implementing a "quantity control" policy, stating that it is still under research. 2. The National Bureau of Statistics emphasized the need to continue implementing the special action to boost consumption and stabilize employment and income growth. 3. The National Bureau of Statistics reported an increased year-on-year decline in commodity housing sales prices in November. In the future outlook: 1. CITIC SEC stated that the difficulty of exceeding expectations in external demand is increasing, but there are more factors to look forward to in domestic demand. 2. China Securities Co., Ltd. believes that the underlying logic of the bull market is still present, with the market ready for a new round of gains. 3. Guotai Haitong is optimistic about technology, securities, insurance, and consumption sectors for the upcoming year-end and new year.