As of the midday close, the Shanghai Composite Index fell by 0.52%, the Shenzhen Component Index fell by 0.02%, and the chinext price index fell by 0.15%.
The three major stock indexes in the A-share market fell together in the morning session. As of the midday close, the Shanghai index dropped by 0.52%, the Shenzhen Component Index fell by 0.02%, and the Chinext Price Index decreased by 0.15%. The total market turnover in the morning was 1,044.6 billion yuan, a significant increase of 76.5 billion yuan from the previous day, with over 2,800 stocks rising.
On the market front, the internet e-commerce sector led the gains. Global top e-commerce and Kaichun Tech hit the limit-up, yesterday evening Taobao and JD.com started the 'Singles' Day' promotion. Cross-border payment concept stocks surged in the morning, with Huafon Microfibre, Yusys Technologies, Zhejiang China Commodities City Group hitting the limit-up. UnionPay International and the Vietnamese National Payment Corporation (NAPAS) signed a cooperation memorandum. Gaming stocks fluctuated higher, Shenzhen ZQgame surged by 20cm, Sichuan Xunyou Network Technology rose by over 10%, with institutions pointing out the strong performance of China's mobile games in overseas markets in September. Satellite navigation concept stocks rose across the board, with several stocks like Leidi Weli and Hytera Communications Corporation hitting the limit-up. The Chinese Academy of Sciences, China National Space Administration, and the China Manned Space Engineering Office jointly released the 'National Long-Term Development Plan for Space Science (2024-2050)'. Copper cable high-speed connection, Sora concept, software development and other sectors led the gains. Nonferrous metals, oil & gas, coal and other resource stocks generally fell, with Zhongjin Gold Corp., Ltd., Xinjiang Zhundong Petroleum Technology, and Yunnan Coal & Energy all dropping by over 3%.
Internet e-commerce sector leads the gains, Kaichun Tech, Global top e-commerce hit the limit-up.
Kaichun Tech, Global top e-commerce hit the limit-up, Green Wood Technology rose by over 13%, Guangdong Saca Precision Manufacturing, Siveco China, and Sanstate Corporation all rose by over 5%. On the news front, 'Singles' Day' started early, Taobao and JD.com, the two e-commerce giants, synchronized the opening of 'Singles' Day' for the first time, which is about 10 days earlier than in 2023.
Cross-border payment concept stocks surged in the morning, with multiple stocks like Huafon Microfibre hitting the limit-up.
Huafon Microfibre, Yusys Technologies, Zhejiang China Commodities City Group, Hyunion Holding, Qingdao Kingking Applied Chemistry hit the daily limit, Shenzhen Forms Syntron Information, Lakala Payment, XGD Inc. rose more than 10%. On the news front, on October 13, UnionPay International and the National Payment Corporation of Vietnam (NAPAS) signed a cooperation memorandum in Hanoi, agreeing to deepen cooperation in two-dimensional code cross-border interconnection. After the implementation of this cooperation, the local VietQR wallet in Vietnam will be able to directly scan UnionPay two-dimensional code for payment in 47 countries and regions including China, further enhancing the cross-border payment experience between China and Vietnam.
In addition, Zhejiang China Commodities City Group announced after the market closed yesterday that the net income attributable to the shareholders of the listed company in the third quarter was 0.881 billion yuan, a year-on-year increase of 176.73%. "Yiwu Pay" added over 20 billion RMB in cross-border payment transactions from January to September 2024, a year-on-year increase of over 770%.
Gaming stocks fluctuated and rose, Shenzhen ZQGame increased by 20cm hitting the daily limit.
Shenzhen ZQGame increased by 20cm hitting the daily limit, Sichuan Xunyou Network rose more than 10%, Zhejiang Jinke Tom Culture Industry, Yoozoo Interactive, Beijing Ultrapower Software, Fuchun Technology all rose more than 5%. On the news front, according to the latest data from Sensor Tower, a global mobile market intelligence platform, the performance of Chinese mobile games in overseas markets in September 2024 was impressive. Among them, 'Honkai: Star Rail Iron Road' and 'Whiteout Survival' respectively became the leaders in revenue growth and total revenue.
Satellite navigation concept stocks rose across the board, Leidi Microforce, Hytera Communications Corporation, and other stocks hit the daily limit.
Hwa Create Corporation, Leidi Microforce increased by 20cm hitting the daily limit, Hytera Communications Corporation, Streamax Technology, Sichuan Huati Lighting Technology hit the daily limit, Beifang Long Dragon, Xinjiang Zhundong Petroleum Technology, Guangzhou Hi-Target Navigation Tech and many other stocks rose more than 5%. On the news front, the Chinese Academy of Sciences, China National Space Administration, and the China Manned Space Engineering Office jointly released the 'National Long-Term and Mid-Term Plan for Space Science Development (2024-2050)'. Focusing on five major scientific themes and key development directions, proposing a scientific task plan to be implemented in three stages by 2027, 2028-2035, and 2036-2050, forming a roadmap for the development of China's space science until 2050.
