Today, the Shanghai and Shenzhen stock markets bottomed out and rebounded in the morning, and accelerated their upward trend in the afternoon. The Shanghai Composite Index rose 0.76%, the Shenzhen Composite Index rose 0.74%, the ChiNext Index rose 0.70%, the CSI 50 Index rose 1.48%, and the Beihe 50 Index rose 1.29%. The combined turnover of the two markets was nearly 800 billion yuan. In terms of sectors, computers, communications and military industries led the gains, while coal, agriculture and banking fell the most.
Key Points:
Shanghai Index Surges at the End of the Day, Both Markets Volume Increases
The Shanghai Index opened higher today and then fell slightly. Around 10:00, the bulls began to attack. After the opening in the afternoon, the index continued to fluctuate at a high level. At 14:30, the bulls accelerated their upward trend and expanded the gains. The turnover of the two markets increased.
Technology Stocks Lead the Gains, Artificial Intelligence Concept Stocks Soar in the Morning
Today, communication, computers, electronics and other technology stocks led the gains. Concept stocks related to artificial intelligence, such as high-speed copper connections and optical modules, quickly rose in the morning and expanded their gains in the afternoon. Low-altitude economy concept stocks also performed well. Funds are favoring new industries with growth prospects.
Market Focus Shifts to Growth, Technology Stocks Take the Lead
The Shanghai Composite Index has been consolidating in the range of 3000 to 3100 points for two months. The bulls and bears have repeatedly tug-of-war below the annual line, gradually digesting the previous profits, and laying a solid foundation for the upward attack. Now, technology stocks have taken over the baton from resource and energy stocks to lead the gains. Technology stocks are highly valued and priced, and they are often the vanguard of offense. The sustained upward trend of technology stocks is expected to open up the upward space of other sectors and break through the pressure of the annual line.
