Chinese A-shares continued their volatile trend this week, with major indices posting modest rebounds amid shrinking trading volumes. The NBD Brand 100 Index extended its recovery with a 1.1% weekly gain, marking a positive start to December. Multiple constituent stocks, driven by event catalysts, outperformed with weekly surges exceeding 10%.
As global risk appetite improved, China's stock market showed signs of stabilization. By December 5, the Shanghai Composite rose 0.37% weekly, while the Shenzhen Component and ChiNext indices gained 1.26% and 1.86% respectively. The STAR 50 index dipped slightly by 0.08%.
Among top performers in the NBD Brand 100 Index, Jiangxi Copper, Sinotruk, and Boe Technology Group Co.,Ltd. (BOE) all surged over 10% this week. Other notable gainers included Zijin Mining, TCL Electronics, China Pacific Insurance, XCMG Machinery, Baidu Group, Metallurgical Corp of China, Transsion Holdings, and Ping An Insurance, all climbing more than 5%.
In market capitalization growth, Zijin Mining and CATL each added over 70 billion yuan weekly, while BOE, CNOOC, Alibaba, and 12 other stocks saw their market caps expand by more than 10 billion yuan. Despite the rebound, trading volumes remained subdued.
Approaching year-end policy windows, regulators' recent move to lower risk factors for insurers' equity investments could potentially unlock more institutional capital inflows. CSRC Chairman Wu Qing emphasized measures to enhance market inclusiveness and adaptability, laying institutional foundations for sustainable development.
With the Federal Reserve's upcoming policy meeting, market volatility may intensify. Analysts suggest investors await potential policy surprises that could drive further rebounds.
Event-driven stocks dominated this week's performance. Jiangxi Copper soared 15.74% on rising copper prices, while display panel makers BOE and TCL Electronics gained about 10% each, benefiting from World Cup 2026 preparations. BOE anticipates demand boosts for IT and TV products from replacement cycles, AI integration, and sports events.
Industry forecasts suggest panel prices may stabilize and recover in December as inventory builds accelerate. Market observers predict an inflection point for TV panels by December 2025, driven by pre-holiday stocking and World Cup-related demand for large screens.
At its annual media event themed "Renewal Through Innovation," BOE's Senior VP and CTO Liu Zhiqiang outlined the company's latest display technology roadmap. BOE remains committed to pushing technological boundaries under its "Screen-as-Platform" strategy, aiming to transition the industry from visual clarity to comfort and health.
Beyond traditional displays, BOE is diversifying into perovskite solar technology. Since announcing its "1+4+N+Ecosystem" strategy in 2021, the company established Hefei BOE Optoelectronics Technology in March 2024 to focus on perovskite R&D. Leveraging its expertise in glass substrates, thin-film processes, and mass production, BOE aims to accelerate perovskite commercialization.
During a December 3 investor meeting, BOE executives confirmed ongoing innovation in perovskite PV, glass-based packaging substrates, and robotics under its "Nth Curve" expansion strategy. The company has completed full-process platforms from lab-scale to pilot production, achieving industry-leading conversion efficiency.
Haitong Securities notes BOE's strategic positioning in emerging fields like glass-based packaging and perovskite could redefine its growth model. By expanding from core displays into IoT ecosystems, BOE is building an integrated "screen-as-system" industrial landscape.
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