Market Overview
The A-share market rallied strongly this morning. The Shanghai Composite Index broke through previous resistance, closing up 1.14% at 4069.38 points, marking a new high in over a decade. The Shenzhen Component Index rose 0.81%, while the ChiNext Index edged down 0.04%. Trading was active, with half-day turnover nearing 1.8 trillion yuan. Over 3600 stocks advanced, indicating broad-based strength.
Sector Analysis
- Resource Rally: Driven by geopolitical factors and rising commodity prices, the non-ferrous metals sector exploded. Leaders like Zijin Mining, CMOC Group, and Jiangxi Copper hit record highs. On the futures market, silver and lithium carbonate contracts saw dramatic gains.
- Clear Tech Leadership: Memory chip stocks strengthened on news that Samsung and SK Hynix plan significant price hikes. Meanwhile, AMD's launch of new AI chips and its projection of a 1000-fold performance increase in 4 years boosted the AI hardware supply chain. Semiconductor equipment ETFs were among the top gainers.
- Financial Support: Insurance stocks extended their gains, with New China Insurance and CPIC reaching new highs. Brokerage stocks also contributed to the index's rise.
- HK Market Correlation: The Hang Seng Index jumped nearly 500 points in the morning session, with tech and resource stocks rising in tandem with the A-share market.
Market Insight
The current market exhibits a clear "Cyclical + Tech" dual-engine drive. On one hand, global inflation expectations and supply chain restructuring are driving a re-rating of resource assets. On the other, the AI-driven technological innovation wave continues to provide growth momentum. Citi's optimistic forecasts for China's 2026 economic growth and the RMB exchange rate also provide macro confidence. However, sector rotation persists, and investors should monitor the sustainability of leading themes and the pace of capital rotation.
This article does not constitute any investment advice. The stock market involves risks, and investing requires caution!