Haitong Securities: Technology manufacturing and high-end manufacturing may become the main line of the stock market next year.

Jinshi Data November 18th, Haitong Securities stated that since the beginning of the year, the new “Guojiu Regulations” and other Capital Market support policies have continued to land, and since September 24th, the macro policies have clearly shifted, which has significantly boosted market confidence and quickly repaired sentiment. Looking ahead to 2025, the allocation power of residents and long-term institutions will promote the improvement of the capital situation, and the landing of incremental policies will promote the improvement of macro and micro fundamentals, and A shares will continue to trend upward. The medium-term industry main line in the stock market will be clear, focusing on technology manufacturing under the dual Favourable Information of policy and technology, and high-end manufacturing with both supply and demand advantages. In addition, follow the fields that benefit from mergers and acquisitions and reorganizations, as well as dividend assets.