双创指数强势领涨！“十五五”蓝图划重点，科技+内需迎新机遇

Core Viewpoint - The recent meeting of the 20th Central Committee has set forth economic and social development guidelines for the 14th Five-Year Plan, emphasizing advanced manufacturing, technological self-reliance, expanding domestic demand, and ensuring people's livelihoods, which is expected to boost market confidence and investment opportunities in related sectors [1][2]. Market Performance - On October 24, the A-share market saw a collective rise in the three major indices, with the storage chip sector leading with a 7% increase. The Shanghai Composite Index closed at 3950.31 points, up 0.71%, while the Shenzhen Component and ChiNext Index rose by 2.02% and 3.57%, respectively [2]. - The total trading volume for the day reached 1.99 trillion yuan, with over 3000 stocks gaining [2]. Sector Analysis - The storage chip concept surged by 7%, while other sectors such as circuit boards, ASIC chips, optical modules, and semiconductor silicon wafers saw increases of over 5%. In contrast, sectors like real estate, liquor, and state-owned coal enterprises experienced declines [2]. - Analysts suggest that the recent meeting provides new policy expectations and investment clues, likely enhancing market confidence and drawing investor attention to relevant sectors [2][3]. Long-term Outlook - The meeting's emphasis on achieving this year's economic growth targets is expected to positively impact short-term profit expectations and liquidity conditions, potentially increasing market risk appetite [3]. - Analysts predict a sustained slow bull market trend for A-shares, with improving profit expectations and favorable policies likely to enhance valuations [2][6]. Key Investment Themes - The meeting highlighted eight key areas for development, including the construction of a modern industrial system focusing on intelligent, green, and integrated growth, and the establishment of a "strong aerospace nation," which is expected to benefit the technology and digital economy sectors [4][6]. - The focus on expanding domestic demand and the interaction between new supply and demand is anticipated to favor the consumer sector, particularly new consumption industries [4][6]. Sector Performance Post-Meeting - Historical analysis indicates that small-cap stocks may outperform large-cap stocks following the meeting, with significant gains expected in various industries, particularly in midstream manufacturing, TMT (Technology, Media, and Telecommunications), and consumer services [5][6].