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Guotai Junan: A shares are expected to go out of the New Year's market. Recently, Guotai Junan's 2025 strategy meeting will be held in Shenzhen. The conference made an in-depth discussion and comprehensive outlook on the hot topics of market concern and the investment strategy in 2025. Fang Yi, chief strategist of Guotai Junan, said in an interview that the bottom of the A-share market has emerged, which is optimistic about the prospects of China stock market. The key driving force for the market to start comes from the decline of risk-free interest rate and the boost of risk preference. After a long period of continuous adjustment, the pessimistic expectation and microstructure of A-shares are fully clarified, and the positive signal of decision-makers to steady economic growth and support the capital market is an important cornerstone for the upward revision of long-term expectations and the elevation of the bottom of the stock market. Looking forward to the A-share market in 2025, Fang Yi said that there is still room for the optimistic policy expectation at the end of the year and the beginning of the year, and A-shares are expected to go out of the New Year's market. However, in the case of rising geopolitical conflict risks, the stock index may face a staged headwind. However, as the market stabilizes and revises the economic and policy expectations, the stock index is expected to strengthen again in the second half of 2025. (shanghai securities news)Foreign investment increased by 9.7% in the first 10 months. China enterprises need multiple supporting escorts to "go global". At present, it has become the general trend for China enterprises to "go global". The data from January to October 2024 recently released by the Ministry of Commerce shows that the amount of foreign direct investment in China's whole industry has increased steadily. Statistics from the Ministry of Commerce and the foreign exchange bureau show that from January to October 2024, China's foreign direct investment in the whole industry was 135.87 billion US dollars, up 9.7% year-on-year. From large-scale infrastructure enterprises to build traffic arteries overseas, to technology companies to set up R&D centers in foreign countries, and then to manufacturers to lay out overseas factories, China enterprises have a wide and in-depth overseas footprint. However, it is worth noting that in the increasingly complex international environment, the support of professional supporting services is very important for China enterprises in the process of "going global". (SSE)The Iraqi Foreign Minister talked with the French Foreign Minister to discuss the situation in Syria and combat extremism. On December 11th, local time, Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein talked with French Foreign Minister Barrow. During the call, the two sides agreed that the extremist organization "Islamic State" should be prevented from rebuilding its power. At the same time, the two countries should continue to carry out joint anti-terrorism operations in Syria and Iraq and continue to maintain cooperation in strengthening regional security and stability. The two foreign ministers discussed the security, military and political situation in Syria, and discussed the impact of the Syrian situation on Iraq and the region. The two sides stressed the need to promote the comprehensive political settlement of the Syrian issue led by the United Nations, ensure the full participation of all ethnic groups in Syria and safeguard their rights. The two sides agreed that in addition to communication with relevant countries and Syria's neighbors (including Turkey, Jordan, Lebanon and other Arab countries), Iraq and France should also continue bilateral coordination.

On December 11th, the top 20 in US stock turnover: Tesla reached a new high, with Musk's net worth exceeding 400 billion US dollars. On Wednesday, Tesla, the first in US stock turnover, closed up 5.93%, and its share price reached a record high, with a turnover of 42.296 billion US dollars. The CEO of the company, Musk, became the first person in the world with a net worth of more than 400 billion US dollars, setting a new milestone for the richest man in the world. It is reported that the latest catalyst is SpaceX's internal stock sale transaction and Tesla's share price hit a new high, which increased Musk's net asset value by about 50 billion US dollars to 439.2 billion US dollars. (Global Market Broadcast)The United Nations General Assembly voted to pass two Gaza-related resolutions, and the United States and Israel voted against them again. On December 11th, local time, the 10th emergency special session of the United Nations General Assembly resumed. Before the end of the General Assembly, the General Assembly voted to adopt two resolutions, calling for a ceasefire in Gaza and the release of detainees, and supporting the activities of UNRWA. Among them, the resolution supporting the United Nations Relief and Works Agency for Palestine Refugees in the Near East in fulfilling its mandate received 159 votes in favor, 11 abstentions and 9 votes against. The resolution affirmed its full support for the Agency's mission and denounced the relevant Israeli legislation. The resolution calling for a ceasefire in Gaza received 158 votes in favour, 13 abstentions and 9 votes against. The resolution once again called on Gaza to cease fire and release the detainees, and emphasized the importance of accountability. The United States and Israel voted against both resolutions.Sunac China's domestic debt restructuring has entered a critical stage. "Sunac China has a large number of domestic creditors and a complex structure. Within seven working days, two domestic debt restructurings were approved, reflecting the creditors' recognition of the plan. " People close to Sunac China said. "The biggest feature of Sunac China's restructuring plan is that creditors can choose a variety of restructuring methods, and creditors can choose the appropriate method according to their own capital characteristics." Liu Shui, director of enterprise research at the China Central Finger Research Institute, said that the scheme can reduce the debt scale, greatly extend the debt repayment period, help to repair the company's balance sheet and create conditions for the improvement of the company's operating fundamentals. It is understood that Sunac China is one of the first real estate enterprises in the industry to propose an overall solution to domestic debt. Before that, the industry had experienced a series of debt-conversion explorations such as debt extension, debt restructuring, reverse mixed reform and bankruptcy restructuring, among which debt extension was the first choice for most real estate enterprises to convert debt. (Securities Daily)

Front page of China Securities Journal: Give better play to the role of "stabilizer". The reform of the investment side of the capital market has been solidly promoted. The front page of China Securities Journal stated that efforts should be made to break through the blocking points of social security, insurance, wealth management and other funds entering the market, steadily promote the reform of industry rates in Public Offering of Fund, and vigorously develop equity funds, especially indexed investment ... Recently, the reform of the investment side has been accelerated, helping to improve the function of the capital market in which investment and financing are coordinated. Market participants expect that in the next stage, around the key directions such as guiding "long money" to enter the market, enriching the product system, and promoting the development of indexed investment, the reform of the investment side will continue to be solidly promoted, and more new measures are expected to be researched and introduced, which will introduce more incremental funds to the market and better play its role as a "stabilizer" of the market. The market expects that the acceleration of investment-side reform will significantly increase the scale and proportion of medium and long-term capital investment, promote the long-term investment behavior and enhance the inherent stability of the capital market.Canada's stock index closed up 0.6% on the day when the central bank cut interest rates, Brazil's real rose over 1% on the day when the central bank raised interest rates, and Canada's S&P /TSX composite index closed up 0.60% at 25,657.70 points, approaching the closing record high of 25,691.80 points on December 6 and the intraday record high of 25,843.20 points on December 9. Small-cap stocks closed up 0.74% at 847.15 points. In late North America on Wednesday (December 11th), the yield of Canada's 10-year benchmark government bonds rose by 6.7 basis points to 3.085%. The yield of debt increase in the two-year period rose by 5.3 basis points to 2.941%. After the US CPI inflation data was released at 21:30 Beijing time, the refresh rate was as low as 2.827%. After the Bank of Canada announced a 50 basis point interest rate cut at 22:45, it pulled back steeply from 2.84% to 2.960% at 03:06. The yield of five-year debt increase rose by 6.1 basis points to 2.891%. Mexico Composite Index closed down 0.17%, while Mexican peso rose 0.11% against the US dollar. The index of Sao Paulo Stock Exchange in Brazil closed up 1.06% to 130,000 points, and since it rose to a record high of 137,000 points on August 28th, it has been continuously and smoothly adjusted back. The Brazilian real rose by 1.43% against the US dollar, and it was reported at R $5.9647 before the Brazilian central bank raised interest rates by 100 basis points and predicted that it would raise interest rates in the next two times.US stocks "Seven Sisters" | Tesla and Google A closed up more than 5%, both hitting record highs. On Wednesday (December 11), in "Magnificent 7", Tesla closed up 5.93%, refreshing the record high of closing to 424.77 US dollars; Google's parent company, Alphabet(GOOGL), closed up 5.52%, the best performance for two consecutive days since 2015-accumulated up by about 11%, refreshing the historical high of closing to 195.40 US dollars; NVIDIA rose 3.14%, Amazon rose 2.32%, Meta Platforms rose 2.16%, Microsoft rose 1.28%, and Apple closed down 0.52% from its all-time high. In addition, AMD closed up 1.89%, TSMC ADR rose 1.39%, Berkshire Hathaway B shares closed down 0.24%, and Lilly fell 0.44%.