A股收评：日线三连跌！煤炭、电池股齐挫，AI应用概念逆市爆发

Market Overview - The A-share market experienced a collective decline, with all three major indices recording a three-day losing streak. The Shanghai Composite Index fell by 0.81% to 3939 points, the Shenzhen Component Index dropped by 0.92%, and the ChiNext Index decreased by 1.16% [1][2]. Trading Volume - The total market turnover reached 1.95 trillion yuan, an increase of 15.6 billion yuan compared to the previous trading day, with over 4100 stocks declining [2]. Sector Performance - The coal sector saw significant declines, with companies like Yunmei Energy and Baotailong hitting the daily limit down, and Antai Group falling over 9%. The report from Guotai Junan Securities indicated that coal prices have risen above 830 yuan/ton, but a short-term peak may be approaching [5][6]. - The battery sector also faced downturns, with Huasheng Lithium falling over 17% and several other stocks experiencing significant drops. Dongwu Securities noted that while short-term fluctuations are influenced by market sentiment and production data, the sector is not overvalued in the long term, with expected growth rates of 25%-30% [6][7]. - The steel sector experienced substantial losses, with Sansteel Mingguang dropping over 7%. CITIC Construction pointed out that steel prices are expected to decline significantly by 2025 due to supply-demand mismatches and weakening cost support [8]. - Precious metals and gold stocks also fell, with Hunan Silver dropping over 4%. The market's expectations for the Federal Reserve's interest rate decisions have led to fluctuations in gold prices, although long-term bullish trends are still anticipated [9]. Notable Stocks - In the AI application sector, stocks like Fushi Holdings and Xuan Ya International surged, with Fushi Holdings rising by 20.07% [10]. - Semiconductor equipment stocks saw gains, with companies like Yaxiang Integration and Shenghui Integration hitting the daily limit up, reflecting a trend towards supply chain security and domestic substitution [11][12]. Future Outlook - UBS predicts that the Chinese stock market will continue its upward trend into 2026, with the MSCI China Index target set at 100 points, indicating a potential 14% increase driven by earnings growth rather than valuation [12][13].