Shanghai Composite Index Rises as Markets Show Strength
Yesterday, the Shanghai Composite Index experienced fluctuations but ultimately rose during the session, showcasing strength in the ChiNext Index and the Science and Technology Innovation 50 Index. By the close of trading, the Shanghai Composite Index was up by 0.41% to 3039.31 points. Similarly, the Shenzhen Component Index saw a slight increase of 0.04% to 9438.24 points, while the ChiNext Index rose by 0.59% to 1834.83 points. The Science and Technology Innovation 50 Index also saw a rise of 0.37%. The total turnover of the two markets exceeded 1.0771 billion yuan for the fourth consecutive trading day. However, northbound funds experienced a large unilateral outflow, with net sales of 7.06 billion yuan throughout the day.
In terms of industry performance, the finance, real estate, automobile, and brewing sectors saw declines, while the pharmaceutical and media sectors showed strong growth. Additionally, the coal, electricity, petroleum, and semiconductor sectors experienced gains. Notable activity was seen in liquid-cooled servers, CPO concepts, and computing power concepts.
Guosheng Securities highlighted the market’s strong rebound post-Spring Festival, with improved market sentiment and increased trading volume. Regulators have taken concerted efforts to boost market confidence, with net purchases of northbound funds exceeding 60 billion yuan in February, providing robust support to the market. The focus is now on industrial policies, industrial upgrading, and technological innovation, particularly in new energy and artificial intelligence sectors.
Investment opportunities in AI and smart meters were also outlined. Anthropic’s new Claude3 series models and the forthcoming release of Nvidia’s B100 GPU with liquid cooling technology point towards accelerated advancements in AI technology. Smart meters, a core component of smart grids, are poised for growth due to domestic and foreign demand. The horse-faced skirt trend in the Chinese fashion industry was also highlighted, with strong sales both domestically and overseas.
Other market-moving news included the joint trading compliance training for quantitative private equity institutions by the Shanghai and Shenzhen Stock Exchanges, a visit to two Shenzhen listed companies by securities regulatory authorities, Goldman Sachs removing Apple from its “Best Buy List,” and a confirmed price increase for Shanxi Fenjiu’s Blue and White 20 product.
Securities Times reminds readers that the information provided is for reference only and does not constitute investment advice. Interested individuals are encouraged to stay informed through the Securities Times official APP or WeChat account for market trends and wealth opportunities.