Home » The Shanghai Composite Index returned to 3,000 points, a rare daily limit for billionaire giants!This sector has risen for 10 consecutive days_Oriental Fortune Network

The Shanghai Composite Index returned to 3,000 points, a rare daily limit for billionaire giants!This sector has risen for 10 consecutive days_Oriental Fortune Network

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The Shanghai Composite Index returned to 3,000 points, a rare daily limit for billionaire giants!This sector has risen for 10 consecutive days_Oriental Fortune Network

A-shares Surge as Shanghai Composite Index Hits New High on Rising Technology Stocks

In a remarkable turn of events, A-shares surged today as the Shanghai Composite Index stood firm at 3,000 points, hitting a new high since the rebound. Technology stocks notably performed brilliantly, with the Science and Technology Innovation 50 Index rising nearly 4%, and the ChiNext Index also rising by more than 2%.

On the market, sectors such as PEEK materials, communication equipment, liquid-cooled servers, and chips were among the top gainers, with only the brewing and coal sectors experiencing slight adjustments.

Northbound funds also made substantial net purchases of 12.248 billion yuan, including 6.214 billion yuan of net purchases on the Shanghai Stock Connect, marking a net purchase streak of 21 consecutive trading days, and 6.034 billion yuan on the Shenzhen Stock Connect.

Communication stocks were the highlight of the day, setting off a rising trend across the board. The 6G concept and communication equipment sector indexes both rose by more than 6%, with notable companies such as ZTE reaching their daily limit. The recent “2024 World Mobile Communications Conference” held in Barcelona, Spain showcased cutting-edge innovations in the field.

With the establishment of the AI-RAN Alliance and the increasing focus on 6G technology worldwide, major economies are gearing up for the next generation of network technology. In China, regions like Shanghai and Beijing have announced plans to accelerate the development of 6G technology to boost technological innovation and economic growth.

Additionally, storage chip prices continue to rise as demand surges, particularly in segments like automotive chips and semiconductors. The surge in demand for artificial intelligence has led to a significant increase in memory demand, driving up prices for DRAM and NAND chips.

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Looking ahead, industry insiders predict that the demand for memory chips will continue to rise, leading to further price increases in the coming quarters. Overall, the ICT industry is expected to experience high-quality development and innovation, fueling the growth of the digital economy.

Investors are advised to stay informed and exercise caution when making investment decisions, as market conditions can change rapidly.

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