2025 年 10 月 31 日市场缩量调整，锂电板块延续强势

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The market experienced a volume contraction on October 31, 2025, with the lithium battery sector maintaining its strong performance. The Shanghai Composite Index fell by 0.81%, the Shenzhen Component Index decreased by 1.14%, and the ChiNext Index dropped by 2.31%. The total market turnover was 23,498.12 billion yuan, a decrease of 1,144.82 billion yuan from the previous trading day. A total of 3,760 stocks rose while 1,553 stocks fell [2][15] Market Performance Summary - On October 31, 2025, the market saw a mixed performance across various indices, with the consumer sector outperforming others. The turnover in the market was significantly lower compared to the previous day, indicating a cautious sentiment among investors [15][21] - The performance of major indices was as follows: Shanghai Composite Index at 3,954.79, Shenzhen Component Index at 13,378.21, and ChiNext Index at 3,187.53, with respective declines of 0.81%, 1.14%, and 2.31% [19] Industry Performance Summary - Among the 30 first-level industries, the media sector led with a gain of 2.49%, followed closely by consumer services at 2.45% and pharmaceuticals at 2.37%. Conversely, the telecommunications sector saw a decline of 4.19%, followed by electronics at -2.84% and non-ferrous metals at -1.98% [21][24] Fund Flow Performance - On October 31, 2025, the main funds experienced a net outflow of 629.03 billion yuan, with large orders contributing significantly to this outflow. However, small orders saw a continuous net inflow of 684.43 billion yuan, indicating a shift in investor behavior [3][25] - Southbound funds recorded a net inflow of 87.19 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing 57.72 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 29.47 billion HKD [4][27] ETF Performance Summary - The trading volume of major ETFs such as the Huaxia Shanghai 50 ETF and the Huatai-PB CSI 300 ETF increased significantly compared to the previous trading day, indicating a positive sentiment towards these funds [29]