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Citic Lyon: We are optimistic about the cross-border capital flow and IPO recovery of the Hong Kong Stock Exchange, but we should pay attention to the fluctuation of H shares of Chinese brokers. Citic Lyon issued a report saying that we are optimistic about the cross-border capital flow and IPO recovery of the Hong Kong Stock Exchange (00388.HK), and noted that china galaxy (06881.HK) is highly sensitive to the transaction costs of A-share securities. Citic Lyon expects that the A-share trading volume will remain stable in 2025 with the support of favorable liquidity, ETF growth and structural shift of household balance sheets to financial assets, but the bank reminds investors to pay attention to the recent excessive fluctuation risk of H-share brokers.Huatai Securities: The target price of Yum! China was raised to HK$ 472.48, and the "Buy" rating was maintained.On the 10th, South Korea's National Assembly voted to pass the "Permanent Special Inspection Law for Civil Disturbances" which requires the investigation of President Yin Xiyue. (Xinhua News Agency)

Market News: The Director of Russian Intelligence Agency said that Russia is close to achieving all its goals in Ukraine and has the strategic initiative on all fronts.The latest development of quantum computing research: A new generation of quantum chips can improve the quantum error-correcting function. The internationally renowned academic journal Nature recently published a quantum computing paper saying that the latest generation of quantum chips of Google Quantum AI can realize the quantum error-correcting function of suppressing errors below a critical threshold, which is considered to be a necessary condition for realizing the practical application of quantum computing in the future. Researchers believe that the performance expansion of the latest generation of quantum chips may promote the operational requirements of large-scale fault-tolerant quantum computing. (Zhongxin. com)Xuchang Aier Eye Hospital was accused of giving referral doctors a commission to State Administration for Market Regulation for investigation. Recently, Dr. Ai Fen from Wuhan, Hubei Province reported his real name, and Henan Xuchang Aier Eye Hospital gave referral doctors a commission, and listed the amount of the commission, the card number of the receiving bank, the doctor's name and mobile phone number. On December 10th, according to the contents of the report, the upstream journalists randomly dialed 12 people, 7 of whom answered the phone. Seven people are all doctors, three of whom admitted to receiving the commission from Aier Ophthalmology, and four said that they had to check the running water to know whether they had received the commission. At present, Xuchang Municipal Market Supervision Administration has filed an investigation. (Upstream News)

Investors asked the Bank of India to allow the sale of national bonds as zero coupon bond. According to people familiar with the matter, investors urged the Bank of India to allow the state government debt to be converted into zero-coupon bonds. At a recent meeting with the Bank of India, insurance companies dominated the demand for facilities to register interest on national bonds and separate transactions of securities principal (STRIPS). Currently, the Reserve Bank of India only provides this function for federal debt. STRIPS is a popular product in the United States and other developed markets. It was first released in India in 2010, but it has little effect. However, in recent years, the demand for long-term savings products has increased and sales have surged. One of the people familiar with the matter said that allowing state bills to be converted into so-called divested bonds would give investors an additional spread of 30 to 40 basis points higher than that of similar federal securities. State bonds are illiquid and are usually sold at a higher yield than central government bonds.Moody's: The Reserve Bank of Australia may cut interest rates in May next year or ahead of schedule. After the Reserve Bank of Australia issued its December policy interest rate statement, Moody's analyst Harry Murphy Cruise said that the Reserve Bank of Australia may cut interest rates ahead of schedule. The Reserve Bank of Australia did not change its cash interest rate earlier today, but the tone was obviously more moderate. The Committee removed the statement that "no possibility is ruled out" and actually ruled out the possibility of raising interest rates. Australia's potential inflation rate will drop to 3.4% in the fourth quarter of this year, equivalent to an annualized rate of 2.9%. Although this may cause the Reserve Bank of Australia to cut interest rates in February. However, if the annualized inflation rate in the first quarter is lower than 3%, it may not meet the Committee's standard of "sustainable" inflation moving closer to the target range.In the afternoon, the robot sector strengthened, with many daily limit shares such as Eft and Seiko Technology, while the robot sector strengthened in the afternoon, with many daily limit shares such as Eft, Fenda Technology, Astec, Seiko Technology, Mingzhi Electric, Beite Technology and Giant Wheel Intelligence.