券商中国·2025-08-20 07:43Core Viewpoint - The A-share market experienced a significant rebound driven by the artificial intelligence sector, contrasting with declines in major Asian and US stock indices [1][4]. Group 1: Market Performance - A-share market saw a strong afternoon rally, with the technology sector leading the charge, particularly AI-related stocks [2]. - The ChiNext AI ETF surged over 4%, and the semiconductor equipment index rose more than 3%, indicating robust investor interest [2]. - The Shanghai Composite Index closed up 1.04%, marking a three-day streak of new highs, while the ChiNext 50 index increased by 3.23%, reaching a near two-and-a-half-year high [2]. Group 2: AI Developments - DeepSeek announced an upgrade to its online model version V3.1, expanding context length to 128k, which enhances its reasoning and multi-language capabilities [5]. - The release of AutoGLM 2.0 by Zhizhu, powered by domestic models GLM-4.5 and GLM-4.5V, allows for reasoning, coding, and multi-modal processing across various devices [5][6]. - AutoGLM 2.0 represents a significant advancement, transitioning from a conversational agent to an execution-oriented assistant capable of performing diverse tasks autonomously [6]. Group 3: Market Sentiment - Analysts noted an increase in market risk appetite, with a notable rebound in the A-share market despite declines in global markets [3][7]. - The liquidity in the market is currently robust, and the ongoing narrative around technology is attracting more buying interest, especially with new developments in AI [7].