Zheng Quan Ri Bao Zhi Sheng·2025-08-13 11:38Market Performance - The A-share market experienced a strong upward trend on August 13, with all three major indices rising collectively. The ChiNext Index increased by 3.62% to 2496.50 points, the Shanghai Composite Index rose by 0.48% to 3683.46 points, and the Shenzhen Component Index gained 1.76% to 11551.36 points. Over 2700 stocks in the market saw gains, with total trading volume reaching 2.15 trillion yuan, an increase of 269.4 billion yuan from the previous trading day, marking a return to above 2 trillion yuan after 114 trading days [1][5]. Index Highlights - The ChiNext Index hit a new high of 2497.86 points, the Shenzhen Component Index reached a year-to-date high of 11558.59 points, and the Shanghai Composite Index surpassed the previous high of 3674 points from October 8, 2022, reaching 3688.63 points, the highest in 44 months [5]. Market Drivers - Analysts attribute the market's performance to increased risk appetite and declining risk-free interest rates, suggesting that A-shares are entering a "systematic bull market" characterized by a "slow bull" pattern. The upward movement of the Shanghai Index has raised market expectations, indicating a systematic bull market with differentiated sector performance [5]. Sector Performance - AI hardware-related stocks, such as CPO and liquid-cooled servers, have become market focal points, showing strong bullish trends. Notable stocks like Guangku Technology, Robotec, and Feilong Co. saw their prices hit the daily limit, while companies like Industrial Fulian, Xinyi Sheng, and Zhongji Xuchuang achieved significant price increases, setting new historical highs [5]. AI Industry Outlook - The core driving force behind the surge in AI hardware stocks is the sustained high demand in the AI industry. As artificial intelligence technology accelerates, the demand for computing power is experiencing explosive growth, leading to a broad development space for the AI hardware market [5]. Investment Strategy - Market experts suggest that the current market performance is supported by policy easing, influx of new capital, and the thriving AI industry. However, there is a notable divergence in market performance, indicating a preference for risk-averse investments. Short-term focus should be on leading tech companies and sectors benefiting from policy incentives, while being cautious of potential technical pullback pressures [6].