The main A-share indices continued to increase in volume. By the midday closing, the Shanghai Composite Index rose 1.73% to return above 2900 points, the Shenzhen Component Index rose 2.36%, and the Chinext Price Index rose 2.63%. Over 5000 individual stocks rose, with a total turnover of 798.4 billion yuan in the morning session, an increase of 276.7 billion yuan from the previous day.

On the market today, the large financial sector triggered a surge in limit-up trading, with nearly 20 stocks such as Tianfeng Securities and Sealand reaching their daily limit-up. Sora concept stocks continued to rise, with Hylink Digital Solutions, TVZone Media hitting the limit-up, and ByteDance's subsidiary, Volcano Engine, releasing two large-scale video generation models. Precious metal stocks strengthened, with Hunan silver up over 8%, Zhongjin Gold up over 6%, and spot gold surpassing $2670 per ounce to hit a new high. Real estate stocks continued to rise, with several stocks like Financial Street Holdings and CCCG Real Estate hitting the limit-up, while the real estate market welcomed another round of major policy measures yesterday. Culture & media, steel, and internet e-commerce sectors led the gains. State-owned enterprise reform concept stock Datang Telecom saw a straight drop at the market open, triggering a limit-down, dubbed a “sky-earth board” market trend.

The large financial sector triggered a surge in limit-up trading, with nearly 20 stocks like Tianfeng Securities reaching their daily limit-up.

Tianfeng Securities, Sealand, Cofco Capital Holdings, Minmetals Capital, and many other stocks hit the limit-up. Ruida Futures, SDIC Capital, the Pacific, and others followed the uptrend. In terms of news, the central bank for the first time established structural monetary policy to support the capital markets, including convenient interchanges among securities, funds, and insurance companies, with an initial operation scale of 500 billion yuan, and potential future expansion based on circumstances.

Sora concept stocks continue to rise, and tvzone media is trading limit up.

FS Development Investment Holdings surged 20 cm, Hylink Digital Solutions, tvzone media traded limit up, Guangdong Insight Brand Marketing Group rose by over 12%, Shanghai Anoky Group, Zhejiang Huace Film & TV rose by over 7%. On the news front, on September 24th, ByteDance's volcano engine held an AI innovation tour in Shenzhen, launching two large models, Douyin Video Generation-PixelDance and Douyin Video Generation-Seaweed, for enterprise market testing. As of September, the daily token usage of the Douyin language model exceeded 1.3 trillion, ten times more than the initial release in May, with multimodal data processing volumes reaching 50 million images and 850,000 hours of voice daily.

Gold hit new highs repeatedly, with precious metals stocks showing strength.

Hunan silver rose by over 8%, Shengda Resources, Inner Mongolia Xingye Silver&Tin Mining, Zhongjin Gold Corp.,Ltd rose by over 6%, Leysen Jewellery Inc., Shandong Gold International, Zijin Mining Group and others were among the top gainers. On the news front, spot gold rose above $2670 per ounce, hitting a historical high, up 0.5% intraday. UBS Group's Asia Pacific investment director's office mentioned that as the Fed cuts interest rates and tensions escalate in the Middle East, it adds to the attractiveness of gold. Driven by institutional and ETF demand, strong gold demand is expected to persist until next year. By mid-2025, the gold price may reach $2700 per ounce. In addition to investing in physical gold, investors may consider exposure through structural strategies, ETFs, or gold mining stocks.

Real estate stocks continue to surge, with CCCG Real Estate Corporation and other stocks trading limit up.

Financial Street Holdings, Guangdong Shirongzhaoye, Yang Guang Co., Ltd., Vantone Neo Development Group, Hefei Urban Construction Development traded limit up. Shanghai Chengtou Holding, Risesun Real Estate Development, Greenland Holdings Corporation, Shenzhen Overseas Chinese Town and others all rose by over 6%. On the news front, the central bank and other departments announced a major policy combination yesterday, injecting a strong confidence boost into the market. People's Bank of China Governor Pan Gongsheng stated that the PBOC, together with the China Banking and Insurance Regulatory Commission, will introduce five new real estate financial policies: 1) guide banks to lower interest rates on existing housing loans, with an average expected reduction of around 0.5 percentage points; 2) unify the minimum down payment ratio for housing loans to 15%; 3) extend the deadlines of two real estate financial policy documents; 4) optimize the policy for re-loans for affordable housing; 5) support the acquisition of land by real estate companies.