2025.12.5

1. Peripheral Market

Overnight, the three major U.S. stock indices showed mixed results, with the Dow adjusting slightly by 0.07%, and the S&P and Nasdaq having three consecutive gains. Major tech stocks differentiated, with Nvidia rising by 2.12%, Tesla by 1.73%, Apple falling by 1.21%, Google A down by 0.63%, and Intel dropping by 7.45%.

The Nasdaq Golden Dragon China Index closed up 0.39%, with NIO rising over 4% and XPeng Motors up over 3%.

2. Market Analysis

On Thursday, after a dip, the market slightly rebounded under the protection of brokerages, but there was no significant volume increase, and it generally remained in a fluctuating trend. The total market turnover was 15617, with the trading volume continuing to weaken, and the ratio of advancing to declining stocks was 1455:3878.

Today is Friday, and with the listing of Moore Threads, the market may see significant financial protection with weaker thematic stocks leading to a fluctuating divergence in the market.

In summary, ahead of the mid-December meeting, funds are cautious, short-term trading is challenging, and one should not be aggressive.

3. Hot Topics

Doubao Phone: Supply chain sources revealed that ByteDance and ZTE's second-generation products have started development, and it is expected to ship by the end of 2026, barring any other variable factors.

Doubao Second Generation Phone: ZTE, Furong Technology, Yunzhuang Technology

Google: On December 9, an Android XR launch event will be held, showcasing glasses, headsets, and Gemini.

Google Glass Headset: Doctor Glasses, Kesen Technology, Luxshare Precision, GoerTek

Moore Threads went public on the Sci-Tech Innovation Board on December 5. (Lianmei Holdings, Chuling Information, Yingqu Technology, Heertai, Dazhong Public Utilities)

Moxi Co. started subscription on December 5. (Chaoxun Communication, Zhongshan Public Utilities)

Cambricon: On the evening of December 4, it urgently debunked rumors, stating that the information circulated by media and online regarding the company's products, clients, supply, and capacity predictions is misleading and false. On December 4, Cambricon saw a significant surge in the last trading hours, ultimately closing up by 2.75%.