万联证券：万联晨会-20241011

Core Viewpoints - The A-share market experienced wide fluctuations, with the Shanghai Composite Index rising by 1.32%, while the Shenzhen Component Index fell by 0.82% and the ChiNext Index dropped by 2.95%. The total trading volume in the Shanghai, Shenzhen, and Beijing markets was 21,609 billion yuan, a decrease of 8,056 billion yuan from the previous day. Nearly 3,000 stocks in the market rose, with high-dividend sectors such as banking, coal, and oil and gas showing significant gains, while sectors like securities, semiconductors, diversified finance, and AI concepts saw declines [1][4]. Domestic Market Performance - The closing figures for major indices are as follows: Shanghai Composite Index at 3,301.93 (+1.32%), Shenzhen Component Index at 10,471.08 (-0.82%), CSI 300 at 3,997.79 (+1.06%), STAR 50 at 954.17 (-4.38%), ChiNext Index at 2,212.91 (-2.95%), Shanghai 50 at 2,739.05 (+2.18%), and Shanghai 180 at 8,715.69 (+1.77%). The government bond index closed at 217.37 (+0.17%) [2]. Important News - The People's Bank of China announced a new "Securities, Funds and Insurance Companies Swap Facility" (SFISF) to support qualified securities, fund, and insurance companies in exchanging high-quality liquid assets such as government bonds and central bank bills, with an initial operation scale of 500 billion yuan, which may be expanded based on market conditions [5]. - The Ministry of Justice and the National Development and Reform Commission released a draft for public consultation on the "Private Economy Promotion Law," which encourages private economic organizations to participate in national technological research and development, and to engage in standard-setting and public data resource development, while enhancing intellectual property protection [5].