Mei Ri Jing Ji Xin Wen·2025-10-09 08:32Core Viewpoint - The A-share market experienced a significant rise on the first trading day after the National Day holiday, with the Shanghai Composite Index reaching a ten-year high, driven by strong performances in the technology and metals sectors, while the financial sector lagged behind [1][2][5]. Market Performance - On October 9, the Shanghai Composite Index closed at 3933.97 points, up 1.32%, marking the first time it surpassed the 3900-point level since August 18, 2015 [2]. - Semiconductor stocks showed high volatility, with notable early gains followed by a sharp decline in the afternoon. For instance, SMIC initially surged over 9% but closed in the red [2]. - The metals sector saw a broad rally, with gold stocks like Sichuan Gold and Shandong Gold hitting the daily limit, and rare earth stocks also performing strongly [2][5]. Global Market Context - The positive performance of the A-share market was supported by a favorable global market backdrop during the holiday, with major global indices and commodity prices rising, including the Nikkei 225 index reaching 47,000 points and gold prices exceeding $4,000 per ounce [3]. - The technology sector received a boost from various favorable announcements, including significant upgrades in AI models and substantial server procurement results favoring domestic suppliers [4][5]. Sector Insights - The financial sector underperformed compared to the technology and metals sectors, with brokerages like Guosheng Financial experiencing a drop, contrasting with last year's performance where financial stocks led the market surge [5][6]. - Analysts suggest that the current market environment is characterized by a stable inflow of capital, with a focus on sectors such as AI, semiconductors, and precious metals, indicating a potential for continued upward movement in the A-share market [7][8]. Upcoming Catalysts - The upcoming Fourth Plenary Session and the third-quarter earnings reports are expected to be key focus areas for investors in October, potentially influencing market sentiment and performance [7][8].