TENCENT(HK:00700) Huan Qiu Shi Bao·2025-08-18 22:56Market Performance - A-shares experienced a significant rise, with the Shanghai Composite Index reaching a nearly ten-year high of 3745.94 points, marking a 1% increase during the day [1] - The total market capitalization of A-shares surpassed 100 trillion yuan, setting a historical record [1] - The ChiNext Index saw a nearly 4% increase, breaking through the 2600-point mark [1] Market Drivers - Multiple positive factors, including cyclical resilience, policy expectations, and market rotation, are driving the upward momentum in the Chinese stock market [1][3] - Ample liquidity in the market and support from national policies have alleviated investor concerns [3] - The recent trend indicates a recovery in corporate earnings, with an average profit growth of 11% reported by 31 companies in the Hang Seng Index [3] Investor Sentiment - The stock market's recovery has boosted investor enthusiasm for trading in the Chinese capital market, with a 20% rebound since the sell-off triggered by US-China trade tensions in April [4] - Retail investors are shifting record savings from the bond market to the stock market, supported by government policies that enhance market confidence [4] - The recent positive sentiment in the stock market suggests a quiet recovery in the over 10 trillion USD market [4] Economic Outlook - The current bull market is characterized by strong policy support, a favorable funding environment, and sustained foreign capital inflows [5] - The focus of market investments is shifting towards core areas of economic transformation, particularly in finance and technology sectors [5] - The humanoid robotics sector is gaining attention, with potential applications expanding as intelligent systems improve [5]