As of the midday close, the Shanghai Composite Index rose by 0.67%, the Shenzhen Component Index rose by 1.64%, and the chinext price index rose by 3.29%.
The People's Bank of China and the China Securities Regulatory Commission have released multiple bullish news, with the three major A-share indices continuing to rise in the morning session. As of the midday close, the Shanghai Composite Index rose by 0.67%, the Shenzhen Component Index rose by 1.64%, and the ChiNext Price Index rose by 3.29%. The total market turnover in the morning was 979.5 billion yuan, a significant increase of 61.7 billion yuan compared to the previous day, with over 3800 stocks rising.
On the market front, the semiconductor sector continues to rise, with both JHICC and Shanghai Belling hitting the daily limit up. Taiwan Semiconductor's third-quarter performance was strong, with a more than 9% surge yesterday. The consumer electronics concept is strong, with KWEicheng Technology hitting limit up for two consecutive days, Sichuan Changhong, Ofilm Group, welcoming the traditional peak season for consumer electronics in the fourth quarter. Golden industrial concept stocks are generally rising, with Yulong Gold up over 7%, Zhongjin Gold, Chifeng Jilong Gold up over 3%, and spot gold touching $2710 per ounce to reach a new high. In the securities sector, Tianfeng Securities hit the daily limit up, while East Money Information rose by over 6%. The real estate stocks showed divergent trends, with Everbright Jiabao hitting the limit up for six consecutive days, Shenzhen Zhenye(Group) hitting the limit up, and Chong Qing Yukaifa falling by over 7%, as new residential commodity sales in January-September fell by 22.7%.
The consumer electronics concept is gaining strength with KWEicheng Technology hitting limit up for two consecutive days.
KWEicheng Technology hit the limit up for two consecutive days, with Sichuan Changhong, Ofilm Group, Telling Telecommunication Holding, Yes Optoelectronics, Ways Electron, etc., all hitting the limit up. On the news front, the fourth quarter is the traditional peak season for consumer electronics. The annual new phone trend of smart phones is approaching, with brands like Huawei and OV launching new flagship phones in October. There are also updates on the supply chain, with the upcoming Apple Intelligence in October expected to empower the new iPhone 16. The new M4 MacBook Pro is expected to be released this month, with reports indicating that Apple's supply chain is ready. Institutions have expressed that the new phone trend among smartphone brands, coupled with the "Singles' Day" sales promotion, is expected to further boost smartphone shipments in the fourth quarter. It is advisable to pay attention to opportunities in the communication and consumer electronics-related industry chains.
The semiconductor sector continues to rise, with JHICC and Shanghai Belling hitting the daily limit up.
Crystal Micro, Shanghai Bright Power Semiconductor, H.B. Fuller all hit the 20cm limit up, Shanghai Belling Corp.,Ltd. hits limit up, Tech Semiconductors, Kaida Quartz, Jiahua Special, and Kewit all rise over 10%. Taiwan Semiconductor surged more than 9% yesterday, hitting a new high intraday, with strong performance in the third quarter, sales, net income, and gross margin all exceeding expectations.
Gold price hits a new high, golden industrial concepts rise across the board.
Shandong Yulong Gold rises over 7%, Zhongjin Gold Corp.,Ltd, Chifeng Jilong Gold Mining, and Shandong Gold International rise over 3%, Hunan Gold Corporation, Hunan Silver, and SD Gold follow suit. On the news front, the upward trend in spot gold continues, reaching $2710 per ounce, hitting a new high again.
Real estate stocks diverge, Everbright Jiabao hits the 6th consecutive limit up.
Everbright Jiabao hits the 6th consecutive limit up, Shenzhen Zhenye(Group) hits limit up, Chong Qing Yukaifa falls more than 7%, Shanghai Wanye Enterprises, Tianjin Realty Development, Yang Guang Co., Ltd., and Cinda Real Estate fall more than 5%. On the news front, from January to September, the sales area of newly built commercial housing was 702.84 million square meters, a year-on-year decrease of 17.1%, with a 19.2% decrease in residential sales area; the sales amount of newly built commercial housing was 6888 billion yuan, a decrease of 22.7%, with a 24.0% decrease in residential sales amount.
