每日解盘：沪指突破3900点，再创十年新高，贵金属板块爆发-10月9日

Market Overview - The three major indices experienced significant gains on October 9, 2025, with the Shanghai Composite Index rising by 1.32% to close at 3933.97 points, the Shenzhen Component Index increasing by 1.47% to 13725.56 points, and the ChiNext Index up by 0.73% to 3261.82 points. The total trading volume in both markets reached 26,527 billion yuan, an increase of approximately 4,716 billion yuan compared to the previous trading day [1]. Index Performance - The STAR 50 Index led the gains with a 2.9% increase, followed by the CSI 500 Index at 1.8%, and the CSI A500 Index at 1.6%. The Shanghai and Shenzhen 300 Index rose by 1.5%, while the Shenzhen Component Index also saw a 1.5% increase. The overall performance for the year shows the STAR 50 Index up by 55.6%, and the CSI 500 Index up by 31.8% [2]. Sector Performance - The non-ferrous metals, steel, and coal sectors saw notable increases, with non-ferrous metals rising by 7.6%, steel by 3.4%, and coal by 3.0%. In contrast, the media, real estate, and social services sectors experienced declines, with real estate down by 1.4% and media down by 1.4% [3][4]. Conceptual Themes - Key conceptual themes included significant gains in controllable nuclear fusion (up 7.0%), superconducting concepts (up 5.8%), and various metal-related sectors. Conversely, sectors such as duty-free shops and the ice and snow industry faced declines, with duty-free shops down by 1.8% [5][6]. Hot Industry - Non-Ferrous Metals - The non-ferrous metals sector's rise was attributed to several factors, including the surge in gold prices, which reached historical highs of 4,000 USD per ounce, and increased demand for copper driven by the expansion of power infrastructure supporting AI technologies. Additionally, supply disruptions from major mines contributed to the imbalance in supply and demand, pushing copper prices above 10,500 USD per ton [6]. Central Bank Operations - The central bank conducted a reverse repurchase operation of 6,120 billion yuan, resulting in a net withdrawal of 14,513 billion yuan, indicating a tightening of liquidity in the market [7].