2025.12.23
I. External Market
Overnight, the three major US stock indexes collectively closed higher, with the Nasdaq rising 0.52%. AI concept stocks performed actively, with Oracle rising over 3%, Micron rising over 4%, and NVIDIA and Tesla closing up over 1%. Both gold and silver hit historical highs.
The Nasdaq Golden Dragon China Index closed up 0.58%.
Christmas Holiday Arrangement:
On Tuesday, the Hong Kong stock market will only conduct morning trading and will be closed from 13:00; from Wednesday to Thursday, the Hong Kong stock market will be closed for two consecutive days.
US stocks will close three hours early on December 24 and will be closed all day on December 25.
II. Market Analysis
On Monday, the three major A-share indexes rebounded with fluctuations, with the ChiNext Index rising 2.23%. The Hainan Free Trade Zone surged, with non-ferrous metals and semiconductors strengthening, and the market had a total transaction of 1,882.2 billion, with a rise and fall ratio of 2984:2265.
Currently, the market has reached four consecutive gains within the range to 3917, very close to the upper pressure level of 3936, which means a breakthrough is imminent. Whether the breakthrough is supported by increased volume will determine if the subsequent trend structure can shift from range fluctuations to wave rebounds.
Considering external influences, the structure of the three major indexes, and various factors such as large financial water levels, the probability of the market breaking through with volume is significant.
III. Hot Topics
Ministry of Commerce: From December 23, 2025, a temporary countervailing duty deposit will be implemented for imported dairy products originating from the EU as a temporary countervailing measure.
Dairy Products: Manor Ranch, Beingmate, Sunshine Dairy, Huangshi Group, Western Pastoral
Beijing Stock Exchange + Dairy Products: Knight Dairy
Long March 12A: The Long March 12A may have its maiden flight at the Jiuquan Satellite Launch Center on the morning of December 23, Beijing time. This timing is based on speculation from public navigation control information in Lanzhou (9:54 AM - 12:14 PM), and the official has not yet released a formal announcement. This is a new generation of reusable launch vehicle developed by the Eighth Academy of China Aerospace Science and Technology Corporation (Shanghai Aerospace Technology Research Institute), which is a recoverable version of the Long March 12.
US commercial space concept stocks surged again last night, with AST SpaceMobile rising 14.03% and Rocket Lab rising 9.97%.
Long March 12A: Aerospace Electromechanical (Aerospace Eighth Academy), Chaogai Co., Ltd., Jiayuan Technology, China Satellite
Kuaishou Live: Around 22:00 on December 22, multiple live rooms on the Kuaishou platform had a large amount of inappropriate content. Kuaishou responded late at night, stating that the platform was attacked by black and gray industrial production, and urgent processing and repair are currently underway.
Cybersecurity: Electric Science Network Security, Yongxin Zhicheng
Goldman Sachs' latest prediction indicates that Chinese stocks are expected to continue to rise in 2026, with an anticipated additional increase of 38% by the end of 2027.
Platinum futures hit the limit up. (Guo Yan Platinum)
