A-Share Market Continues to Surge with Record Turnover and Kimi Concept Stocks on the Rise
The A-share market has been on a bullish streak, with the transaction volume exceeding one trillion yuan for five consecutive days. The market saw a flurry of activity on March 22, with the Shanghai Stock Exchange Index falling 0.95%, the Shenzhen Component Index falling 1.21%, and the ChiNext Index falling 1.47%. Despite the slight dip in indexes, individual stocks have seen significant gains, with many stocks hitting daily limits.
The Kimi concept stocks, in particular, have been soaring in popularity, with leading stocks doubling in price within the month. Stocks related to the Kimi concept, such as Dingtong Technology, Shenglan Co., Ltd., and Wall Nuclear Materials, have seen substantial gains. The market has been driven by the strong economic data and a stable environment, with the hydrogen energy industry also receiving favorable policies from the National Energy Administration.
The hydrogen energy industry, in particular, has seen a surge following the issuance of “Guiding Opinions on Energy Work in 2024” by the National Energy Administration. The opinions focus on promoting hydrogen energy technology innovation and industrial development, as well as expanding hydrogen energy application scenarios. This has led to a positive response from hydrogen energy concept stocks, with companies like Yunnei Power and Sichuan Jinding seeing significant gains.
Another standout in the market has been the Kimi concept, with the introduction of a large-scale model application leading to a surge in related stocks. Beijing Dark Side of the Moon Technology Co., Ltd., the developer of the Kimi smart assistant, announced that the large model interface is open to all developers and corporate users. This has sparked optimism in the market, with Kimi concept stocks collectively rising sharply since March.
Overall, the A-share market continues to see strong momentum, with the support of positive news and favorable policies driving growth. Investors are advised to stay informed about market trends and policy developments to make informed investment decisions.