AIGC Concept Index Leads A-Share Market on First Trading Day of Year of the Dragon
On February 19, the A-share market got off to a strong start on the first trading day of the Year of the Dragon. The Shanghai Composite Index, Shenzhen Composite Index, and GEM Index collectively opened higher and continued to expand their gains throughout the day. The Shanghai Composite Index reached 2910.54 points, up 1.56%, while the Shenzhen Composite Index and GEM Index also saw notable gains. However, the total turnover of the Shanghai and Shenzhen stock markets decreased by 60.2 billion yuan compared to the previous trading day, reaching 957.3 billion yuan.
The AI concept sector saw a significant increase in stock prices, with shares related to Sora, multi-modal model concepts, Web3.0, ChatGPT, virtual humans, AIGC, and other sectors rising across the board. Stocks related to AIGC and other AI concepts surged, with some reaching their daily limit of 20%. This surge was fueled by the recent launch of OpenAI’s first Vincent video model, Sora, during the Spring Festival holiday.
The education sector also experienced a rebound, particularly in online education and K-12 education. This follows the Ministry of Education’s recent issuance of regulations on the management of off-campus training, which aims to encourage and support various off-campus venues and institutions to enrich the curriculum and meet reasonable off-campus training needs.
Despite these positive trends, securities analysts urge caution and state that securities information is for reference only and does not constitute substantive investment advice. It’s recommended that investors stay informed about stock market trends and policy information to make informed investment decisions.