午评：创业板指探底回升涨0.44% 贵金属、半导体板块走强

Market Overview - The market showed a rebound after an initial decline, with the ChiNext Index turning positive after dropping over 1% [1] - As of the midday close, the Shanghai Composite Index was at 4134.03 points, up 0.03%, while the Shenzhen Component Index was at 14262.96 points, down 0.37%, and the ChiNext Index was at 3333.91 points, up 0.44% [1] - The total trading volume in the two markets was 1.87 trillion yuan, a decrease of 367.4 billion yuan compared to the previous trading day [1] Sector Performance - Precious metals, insurance, cultivated diamonds, semiconductors, CPO concepts, and storage chips saw significant gains, while the battery, titanium dioxide, energy metals, lithium mining concepts, and land transfer sectors underperformed [1] - In the precious metals sector, China Gold achieved three consecutive trading limit ups, and Hunan Gold achieved two consecutive trading limit ups [2] - Semiconductor equipment stocks experienced a rebound, with ChipSource rising nearly 14% and other companies reaching trading limits [2] - The battery industry chain faced a collective decline, with Tianji Co. hitting the trading limit down [2] Institutional Insights - Huatai Securities noted that since December 2025, the banking index has declined by 8.4 percentage points due to real estate risk concerns and market style shifts, but the core revenue trend remains positive [3] - Eight banks have reported preliminary 2025 performance, with six showing revenue growth and five showing profit improvement, indicating a potential for continued strong performance in 2026 [3] - CITIC Securities highlighted the explosive demand for AI computing power driving upgrades in the optical communication industry, with strong demand for high-speed optical modules despite short-term supply gaps [3] Employment and Economic Measures - The Ministry of Human Resources and Social Security announced plans to implement actions to stabilize and expand employment, including measures to address the impact of artificial intelligence on job markets [4] - The focus will be on supporting key groups in employment, including college graduates, and establishing a regular mechanism to prevent poverty through employment assistance [4] Manufacturing Profit Growth - The National Bureau of Statistics reported that profits in high-tech manufacturing industries increased by 13.3% in 2025, surpassing the overall industrial growth of 12.7% [5] - The smart electronics sector significantly contributed to this growth, with profits in smart consumer device manufacturing rising by 48%, and specific sectors like smart drones and smart vehicle equipment seeing profits increase by 102% and 88.8%, respectively [5] - The semiconductor industry also experienced substantial profit growth, with integrated circuit manufacturing profits up by 172.6% [5] Financing Trends - As of January 26, the financing balance on the Shanghai Stock Exchange was reported at 1.3668 trillion yuan, an increase of 13.82 billion yuan from the previous trading day [6] - The Shenzhen Stock Exchange's financing balance was 1.3323 trillion yuan, up by 5.73 billion yuan, leading to a total financing balance of 2.6991 trillion yuan across both markets, an increase of 19.55 billion yuan [6]