A-share market opening express | A-share market opening with mixed ups and downs, Shanghai Composite Index falls by 0.05%, lithium mining concept stocks show strong performance.

The three major stock indexes of A-shares opened with mixed gains and losses, with the Shanghai Composite Index down 0.05% and the ChiNext Index down 0.21%. In terms of market performance, the lithium mining concept showed strong performance, with Chengxin Lithium Group up nearly 5%; precious metals, photovoltaic and other sectors led gains; and the online car-hailing concept experienced the biggest losses. Institutional Outlook Debang Securities: A-share market is expected to continue the "slow bull" trend in 2026, with technology growth expected to remain the main theme. Debang Securities stated that the A-share market is expected to continue the "slow bull" trend in 2026, with sufficient support to stabilize the index. At the policy level, the country attaches importance to the development of the capital market, and long-term funds entering the market continuously act as a "ballast". Although the macro economy is weakly recovering, structural highlights are prominent, and sector differentiation provides a foundation for stable index. Looking ahead, we expect technology growth to remain the main theme and become the "sharpest spear". With the strategic goal of "Scientific and Technological Nation" in the 15th Five-Year Plan and the global AI industry trend driving force, the hard technology sectors such as artificial intelligence and computing power are expected to continue leading the market. In addition, high dividend yield assets have important bottoming out value. In the environment of weak economic recovery and declining interest rates, their scarcity in providing stable cash flow is evident, and their current valuations are relatively low. In terms of allocation, it is recommended to focus on technology innovation and new production forces as long-term core, closely follow industry trends and policy directions, and achieve excess returns through growth assets in high prosperity; while using high dividend and high-quality cash flow assets as the portfolio's "ballast", effectively suppressing fluctuations in market decline stages. Soochow: It may be difficult to participate in the follow-up of commercial aerospace, focus on AI applications in low positions and industrial branches involved in the "15th Five-Year Plan". Soochow stated that as the first year of the "15th Five-Year Plan", based on historical experience, the market often gives high expectations in advance to industries involved. As a future industry branch resonating with domestic and foreign industrial trends in the 15th Five-Year Plan, the commercial aerospace sector has shown strong continuity and profit effects since mid to late November, but in the past 20 trading days, the excess over the relative growth style benchmark has significantly widened. From the perspective of time and space, the follow-up participation may be difficult, and signs of switching to low-level branches such as nuclear power have also appeared recently. Taking into account factors such as chips, position, and catalytic density, this article identifies some potential directions. It is recommended to focus on two main themes: 1) Low positions in the application end of the AI direction, focus on probabilistic trading of diffusion branches, pay attention to AI medical, AI edge, intelligent driving, and body intelligence in the application end; 2) Focus on key industry branches involved in the "15th Five-Year Plan", pay attention to commercial aerospace, 6G, nuclear power, hydrogen energy, quantum communication, brain-machine interfaces, etc. Orient: For stocks in hot sectors such as commercial aviation, Siasun Robot&Automation, and semiconductors that have recently seen significant highs, it is advisable to reduce positions on rallies. Orient stated that overall, the market performance leading up to the end of the year remains active, especially in the technology sector, showcasing the market characteristics of "sector differentiation, individual stock excitement". However, it is worth reminding that for stocks in popular sectors such as commercial aviation, Siasun Robot&Automation, and semiconductors that have recently seen significant highs, it is advisable to reduce positions on rallies, and continue to look for stocks with replenishment potential in popular sectors.