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Russia said it had fought against the Ukrainian ammunition depot and repulsed Russia's repeated attacks. On the 10th local time, the Russian Defense Ministry reported that the Russian army had taken control of a settlement in Donetsk on the same day, and attacked the Ukrainian ammunition depot, electronic warfare base stations, armored vehicles and other targets. Russian air defense forces shot down several rockets and dozens of drones of the Ukrainian army. In addition, the Russian army continued to crack down on Ukrainian personnel and equipment in Kursk region, Russia. On the same day, the General Staff of the Ukrainian Armed Forces issued a war report, saying that as of the afternoon of the 10th, the Ukrainian army had nearly 100 battles with the Russian army in Kharkov, Kupyansk, Hongliman and other areas. The Ukrainian army continued to hold its ground and repelled many Russian attacks.Guohai Securities gave Youyou Food Co., Ltd. the initial rating of buying.Maotai Group went to Laos, Cambodia and Thailand for investigation and exchange. From December 3 to 9, local time, Wan Bo, member of the Party Committee and deputy general manager of Maotai Group, led a team to Laos, Cambodia and Thailand for investigation and exchange. Through in-depth investigation of the local market, the brand promotion activities of "Maotai Night" were carried out, which continued to promote Maotai's deep cultivation in Southeast Asia. During this period, Wanbo and his party also visited Eisenwo, Chairman of the China-Cambodia Friendship Exchange Association, Princess Norodom Allen Rasmi, Director of the Cambodian Royal Modita Foundation, former Thai Deputy Prime Minister Chichai Vanashati, Chairman of the Thailand-China Friendship Association and former Thai Deputy Prime Minister Gong Taparansi, and Lao Minister of Education and Sports Pu Simarong to discuss how Maotai culture and Southeast Asian cultures can be blended and promoted together to help Maotai and China traditional culture go to sea.

Nikkei futures opened down 95 points at 39,290 on the Singapore Stock Exchange.Institution: In November, the average price of second-hand residential buildings in Baicheng dropped by 0.57% month-on-month. According to the 100-city price index of China's real estate index system, in November 2024, the average price of second-hand residential buildings in Baicheng fell by 0.57% month-on-month, narrowing by 0.03 percentage points from last month. It fell by 7.29% year-on-year. In November, the average price of second-hand residential buildings in the top ten cities fell by 0.17% month-on-month, which was 0.16 percentage points lower than that of the previous month. It fell by 7.16% year-on-year, and the decline was narrowed by 0.36 percentage points from the previous month. In terms of cities, the prices of second-hand houses in Shenzhen and Chengdu rose by 0.21% and 0.12% respectively. Nanjing had the largest decline from the previous month, with 0.60%; Wuhan, Hangzhou and Tianjin followed closely, with decreases of 0.43%, 0.42% and 0.31% respectively. Guangzhou, Shanghai and Beijing all experienced month-on-month declines of 0.1%-0.3%; Chongqing (the main city) has the smallest decline of 0.07%. In terms of year-on-year, Wuhan and Nanjing experienced large year-on-year declines, accounting for 10.82% and 10.24% respectively. Chongqing (the main city), Beijing, Hangzhou and Shanghai all experienced year-on-year declines of 7%-9%; The prices of second-hand houses in Tianjin, Guangzhou and Chengdu all fell by 5-7% year-on-year; Shenzhen fell by 4.42% year on year.Guotai Junan: The bottom of China stock market has appeared, and the conditions for a "transformation bull" are taking shape. Guotai Junan Securities recently released the prospect of China's equity investment strategy in 2025, and the bottom of China stock market has appeared, and the conditions for a "transformation bull" are taking shape. After a long period of continuous adjustment, pessimistic expectation and clear microstructure, it is a prerequisite for the stock market to have valuation flexibility. The positive change of decision-makers' attitude towards reversing the economic situation and supporting the capital market is an important cornerstone for revising long-term expectations and getting rid of "bear market thinking" and raising the bottom of the stock market. The reform of the capital market will improve shareholders' returns, and resolving debts, promoting reform and stabilizing asset prices are expected to constitute the new "three arrows" of China's economic development, and the transformation bull of China's stock market is taking shape.

Kathy Hochul, the governor of New York, said that a governor's arrest warrant would be issued to the suspect who murdered the CEO of United Health Insurance.Kathy Hochul, the governor of New York, said that a governor's arrest warrant would be issued to the suspect who murdered the CEO of United Health Insurance.TF Securities: The supply-side reform of cement has gradually entered the second stage, and the industry profits are expected to go out of the relative bottom. According to the TF Securities Research Report, the whole process of the supply-side reform of cement industry can be divided into two steps. In the first step, the effect of "reducing production" was achieved by controlling the new production capacity and promoting peak-shifting production nationwide, and the industry profits were pushed up to a new high in 2019. At present, the cement industry is gradually entering the second stage of supply-side reform, and it is expected to realize the withdrawal of actual production capacity with the help of market-oriented behaviors such as environmental protection, double carbon policy and enterprise merger and reorganization. In the short term, peak-shifting production is still the most effective means to adjust the balance between supply and demand. After entering 2025, with the gradual tightening of the policy of restricting overcapacity, enterprises are forced to withdraw from small and medium-sized production capacity by making up the indicators of overcapacity, and the industry is expected to begin to realize real capacity clearing. In 2027, it will enter the stage of deepening and perfecting carbon trading, and the effect of industry capacity optimization is expected to be further revealed. At present, the profit end of the cement industry has shown signs of stabilization. Under the dual promotion of policy-driven and self-restraint under the growth of corporate profit demands, the profit in the fourth quarter is expected to begin to walk out of the relative bottom. CONCH, Shangfeng Cement, huaxin cement, China Resources Building Materials Technology and Western Cement are recommended.