南方基金：现货黄金突破4000美元/盎司大关！

Market Overview - The overall market rose before the holiday, with only the dividend index experiencing a slight decline. The Sci-Tech 50 and ChiNext indices led the gains, while the Shanghai Composite Index and other large-cap indices saw smaller increases. The medium-term outlook remains bullish, focusing on three main themes: leadership, localization, and globalization [1] Sector Performance - In terms of sector performance, non-ferrous metals, electric equipment and new energy, and defense industry sectors showed the highest gains, while communication, coal, and banking sectors experienced the largest declines [2] - The following are the weekly performance metrics for various indices: - Li Chuang 50: PE TTM 192.48, weekly increase 3.06%, quarterly increase 50.31% - Sci-Tech 50: PE TTM 67.52, weekly increase 2.44%, quarterly increase 66.55% - ChiNext Index: PE TTM 46.11, weekly increase 2.75%, quarterly increase 50.76% - Shanghai Composite Index: PE TTM 16.61, weekly increase 1.43%, quarterly increase 12.29% [2] Gold Market - Spot gold prices have surpassed $4000 per ounce, marking a new high with an annual increase of over 52%. Domestic gold jewelry brands have also raised their prices significantly, with prices reaching 1160 CNY per gram for Lao Miao gold and 1165 CNY per gram for Chow Tai Fook gold [4] Foreign Exchange Reserves - China's foreign exchange reserves increased to $333.87 billion by the end of September, up $1.65 billion from the end of August, marking a 0.5% rise. This is the 22nd consecutive month that reserves have remained above $3.2 trillion. The central bank has also increased its gold reserves for the 11th consecutive month, reaching 7406 million ounces (approximately 2303.523 tons) [5] U.S. Tariff Policy - The U.S. will impose a 25% tariff on medium and heavy trucks imported from other countries starting November 1, as part of an ongoing effort to protect domestic industries. This decision follows strong lobbying from traditional automakers in Detroit [6][7] North Exchange Reform - Starting October 9, the Beijing Stock Exchange will implement new securities codes for existing stocks, transitioning all stocks to the new 920 code. This change is part of a broader initiative by the China Securities Regulatory Commission to enhance the exchange's operational framework [7] Market Sentiment and Future Outlook - Chinese assets have shown strength during the National Day and Mid-Autumn Festival holidays, with the Nasdaq Golden Dragon Index rising approximately 3.8%. This reflects international capital's recognition of A-shares and Hong Kong stocks [9] - Looking ahead, the market is expected to gain momentum as the pressure from crowded positions eases, and the upcoming third-quarter reports are anticipated to provide insights into industry trends. Key sectors to watch include technology, advanced manufacturing, and industries benefiting from the 14th Five-Year Plan, particularly in defense and innovative pharmaceuticals [11]