Stock Market Rebounds as Xiaomi Motors Prepares for Launch
Yesterday, the stock indexes of the two cities experienced a rebound after hitting a bottom during the session. The Shanghai Stock Exchange Index turned red, while the Shenzhen Stock Exchange Component Index and the ChiNext Index rose slightly. By the end of the day, the Shanghai Stock Exchange Index rose to 3,031.48 points, the Shenzhen Stock Exchange Component Index increased to 9,449.43 points, and the GEM Index reached 1,841.54 points. Despite a decrease in total turnover to 955.9 billion yuan, northbound funds continued to flow in with net purchases of 4.725 billion yuan.
According to Guosheng Securities, the market is experiencing heightened differentiation among high-level theme stocks, prompting signs of profit-taking pressure. Although the RMB exchange rate has shown short-term fluctuations, it is expected to stabilize as the country’s economic fundamentals improve. The acceleration of northbound funds this week has provided support to the market, leading to a switch in market style between high and low.
Investors are eyeing investment opportunities in Xiaomi Motors, which is set to launch its first model, SU7, at a conference on March 28. Cinda Securities highlighted the potential of Xiaomi’s car delivery with partnerships already established with more than 20 listed companies. This could benefit related parts suppliers as Xiaomi leverages its strengths in intelligence, ecological synergy, fan effect, and channels.
In a separate industry, fiberglass prices have seen comprehensive increases due to recovering demand and decreased inventory. Major companies in the fiberglass industry have issued price increase letters, indicating potential for further price hikes in the future, according to CITIC Securities.
In other news, the Ministry of Industry and Information Technology announced plans to launch an “Artificial Intelligence +” action this year to promote the integration of AI and the real economy. The ministry also aims to establish a national new industrialization demonstration zone to enhance high-tech zones and advanced manufacturing clusters.
Furthermore, Alibaba has withdrawn its independent IPO application for Cainiao, opting for an acquisition instead to strengthen synergy with its e-commerce business. Intel also released commercial client AI PC products, extending AI capabilities to the commercial field with the vPro platform based on Intel Core Ultra processors.
While these developments offer potential opportunities for investors, Securities Times advises caution and emphasizes that the content provided is for reference only and does not constitute investment advice. Stay informed about market trends by downloading the official Securities Times app or following their official WeChat account.