Sou Hu Cai Jing·2026-02-04 08:57Core Viewpoint - The market shows signs of recovery with the Shanghai Composite Index returning to 4100 points, while various sectors experience rapid rotation in stock performance, particularly in coal, aerospace photovoltaic, and real estate sectors [1][2][3]. Sector Summaries Coal Sector - The coal stocks have shown strong performance, with companies like Shanxi Coking Coal and Yanzhou Coal Mining hitting the daily limit. This surge is attributed to Indonesia's government announcing significant production cuts, leading to a suspension of spot coal exports [2]. - Analysts believe that the current prices of thermal coal and coking coal are at historical lows, and with supply-side policies tightening production, the coal supply-demand fundamentals are expected to improve [2]. Aerospace Photovoltaic Sector - The aerospace photovoltaic concept continues to gain momentum, with companies like Zhonglai Co. and Guosheng Technology experiencing significant stock price increases. This interest is partly driven by Elon Musk's team exploring China's photovoltaic supply chain [2][3]. - Financial analysts suggest that the commercial aerospace industry is on the rise, with potential new technologies in photovoltaic cells expected to emerge, although caution is advised regarding the current high valuations in this sector [3]. Real Estate Sector - The real estate sector has shown active performance, with companies such as Rong'an Real Estate and Caixin Development reaching their daily limits. Recent data indicates a recovery in the second-hand housing market in major cities like Beijing and Shanghai, suggesting a potential early spring in the housing market [3]. Market Trends - The overall market has seen a decrease in trading volume, with a total turnover of 2.48 trillion yuan, down 63.3 billion yuan from the previous trading day. Despite this, the market's strong support is evident as the Shanghai Composite Index rebounded [1][7]. - There is a noticeable shift in market sentiment, with low-priced blue-chip sectors like coal and real estate gaining strength, while previously popular sectors such as commercial aerospace and AI applications are experiencing corrections [7][8].