A-share pre-market report | the Federal Reserve's "Three consecutive cuts" as scheduled, the storage leader's quotation sheet surged nearly 50% in a month.

Pre-market News 1. The Fed cut interest rates by 25 basis points as scheduled, expecting to only cut rates once in 2026 Type: Macro Emotional impact: Positive The Fed announced a 25 basis point rate cut early Thursday morning, marking the third rate cut of 2025. Powell stated that it is not expected that anyone will consider raising rates as the main expectation in the future. After the decision was announced, the three major US stock indices surged in the short term, and spot gold rose $20 in the short term. Analysis predicts that there will only be one rate cut in 2026, and the next potential Fed Chair, Hasset, once again emphasized a dovish stance, indicating the Fed could cut rates by 50 basis points or even more. 2. Micron NAND price list surges nearly 50% in a month, module factories predict shortages will become widespread after Q2 next year Type: Industry Emotional impact: Positive The rapid rise in NAND prices is causing concern as Micron's recent NAND price list has surged nearly 50% in a month. Storage module factories have revealed that the current shortage of NAND far exceeds previous levels, and shortages are expected to become widespread after the second quarter of next year. Industry experts point out that AI demand is consuming storage chip capacity at an unprecedented rate, leading to a potential wave of price increases for consumer electronic products. 3. A total of 40 billion yuan! Kweichow Moutai, Wuliangye Yibin distribute "big red envelopes" to shareholders Type: Company Emotional impact: Positive On the evening of December 10th, Kweichow Moutai and Wuliangye Yibin announced mid-term dividend distributions, with a total of approximately 40 billion yuan in dividends to be distributed on December 19th and December 18th respectively. Industry analysis believes that high dividends for leading liquor companies reflect their strong financial position, active investor return initiatives, and investment value. It is also noted that high dividends are just a single indicator and should be considered for investment value from multiple dimensions. 4. Rumors of interest rate subsidies for housing loans ignite real estate stocks? Vanke closes up, interest rate subsidies for housing loans already implemented in many regions Type: Industry Emotional impact: Positive There are rumors in the market that the real estate sector may implement interest rate subsidy policies. Yesterday, China Vanke Co., Ltd. saw its stock price hit the daily limit, with gains exceeding 40% for many bonds. Industry insiders believe that if this policy is implemented, it could effectively reduce loan burdens for homebuyers and stimulate potential housing demand. Huatai research report shows that since 2023, several cities including Nanjing, Changchun, and Wuhan have already implemented interest rate subsidy policies for home loans, with slight differences in the details of the policies.