Market Overview The A-share market started 2026 on a positive note. As of the morning session, both the ChiNext Index and the Shenzhen Component Index rose over 1%, while the Shanghai Composite Index gained 0.45%. The market showed broad-based strength, with nearly 3,400 stocks advancing across the three major exchanges, reflecting positive investor sentiment.
Sector Analysis
- Safe-Haven Assets Strengthen: Geopolitical events, including the US military raid in Venezuela and the capture of President Maduro, fueled risk-off sentiment, driving significant gains in the oil & gas and precious metals sectors. Spot gold surged up to 2% intraday, breaching $4,420/oz. The US's explicit stance to curb Chinese and Russian investment in Venezuela's oil industry further heightened uncertainty regarding resource supply.
- Tech Themes Active: The brain-computer interface (BCI) sector opened sharply higher, with stocks like Innovation Medical and Sanbo Brain Hospital hitting the limit-up. The catalyst came from Elon Musk's Neuralink announcing the start of mass production of BCI devices, injecting confidence into the industry's commercialization prospects.
- Macro & Industry Developments:
- The RMB central parity rate was set stronger by 58 pips, hitting a 15-month high, which helps stabilize foreign investor confidence.
- A Morgan Stanley report forecasts 14,000 humanoid robot shipments in China this year, with annual doubling growth expected in the coming years, providing a long-term theme for advanced manufacturing.
- Nine ministries including the Ministry of Commerce issued a notice to promote green consumption, highlighting opportunities in related industrial chains.
Outlook The morning rally was driven by a combination of external event-driven factors and internal industry catalysts. In the short term, geopolitical risk remains a key variable for sectors like oil & gas and gold. From a medium-to-long-term perspective, technology innovation themes represented by BCI and humanoid robots, as well as policy-supported areas like green consumption, warrant continued attention. Note the potential impact on market liquidity from the central bank's significant net withdrawal of funds today.
This article does not constitute any investment advice. The stock market involves risks, and investment should be made with caution!