港股市场延续反弹态势，恒生指数涨2.41%，恒生科技指数飙升3.21%，科网股贡献主要涨幅。市场风 险偏好修复推动指数收复上周失地。 行业热点与驱动逻辑 科技成长赛道多点开花，成为两地市场核心主线。AI产业链中，HBM概念受"2026年DRAM供应紧 张"预警催化，存储芯片标的涨停，分析指出HBM上游设备材料（TSV设备、IC载板）将率先受益于国 产替代浪潮；CPO板块延续强势，研究显示海外大客户1.6T光模块采购计划持续上修，龙头企业量价齐 升趋势明确。消费电子板块在iPhone 17系列销量超预期（较前代增长14%）带动下集体反弹，权重股成 交放量，机构认为"AI+终端"创新周期已启动，智能眼镜等端侧设备有望成为下一个爆发点。 今日A股市场在科技成长赛道强势反弹带动下高开高走，创业板指领涨全场，港股科技板块同步爆发， 形成"A股硬科技领涨、港股估值修复"的联动行情。早盘A股超4500股飘红，AI硬件、消费电子、存储 芯片等科技方向集体走强，消费电子板块受苹果股价创新高提振，龙头企业涨停；HBM、CPO概念延 续强势，资金对算力基础设施的关注度持续升温。与此同时，前期逆势的煤炭、民航板块普遍回调，市 场风格 ...

Market Overview - A-shares experienced a rebound today, with the ChiNext index rising over 3% during the session, and nearly 4,600 stocks in the market saw gains [1] - The trading volume in the Shanghai and Shenzhen markets reached 1.15 trillion yuan, a decrease of 11.5 billion yuan compared to the previous trading day [1] Sector Performance - The computing hardware sector continued its strong performance, with major players in optical modules seeing significant gains [3] - The Apple supply chain showed active performance, highlighted by a stock surge in Huanxu Electronics, which hit the daily limit [3] - The storage chip sector saw a substantial increase, with Xiangnong Xinchuan rising over 13% during the session [3] - In contrast, coal stocks mostly declined, with companies like Antai Group experiencing significant drops [3] Index Performance - By the end of the trading session, the Shanghai Composite Index rose by 1.2%, reclaiming the 3,900-point level, while the Shenzhen Component Index increased by 1.97%, and the ChiNext index surged by 2.92% [3]

Group 1 - The A-share market showed a positive trend with the three major indices rising, with the Shanghai Composite Index increasing by 1.2% to recover above 3900 points, the Shenzhen Component Index rising by 1.97%, and the ChiNext Index increasing by 2.92% [1] - The cultivated diamond concept continued to strengthen, with Huanghe Xuanfeng hitting the daily limit for the second consecutive day, and Sifangda rising over 12% [1] - The CPO concept saw significant gains, with Yuanjie Technology rising over 16%, and both Xinyi Technology and Zhongji Xuchuang experiencing substantial increases [1] Group 2 - Other sectors that performed well included combustible ice, engineering machinery, real estate, storage chips, and Apple-related concepts, while coal mining and gas sectors faced declines [1] - The total market turnover exceeded 1.1 trillion yuan, with nearly 4600 stocks rising [1]

二是保持均衡配置。手里既要有科技成长这样的"矛"，也要有黄金、大金融这类"盾"，用来应对中美贸易的不确定性； 三是控制仓位，耐心等待。别因为单日反弹就急着满仓，目前市场仍在震荡休整期，仓位控制在5-6成，留足子弹，等放量突破的信号明确再行动。 帮主一句劝：行情总在绝望中诞生，在犹豫中成长。当前A股中长期向上的逻辑并未改变，我们要做的就是在震荡中守住优质标的，等风来。我是帮主郑 重，投资路上，咱们一起稳扎稳打！ 中长线玩家，这时候最该沉住气。市场短期会受情绪摇摆，但长期终归要回归基本面。当前操作要把握三个关键： 一是紧抓"政策+业绩"双主线。半导体设备、AI端侧、新能源电池这些领域，既有国产替代的政策背书，又有行业景气度支撑，回调反而是布局机会； 朋友们，今天A股这缩量反弹，是不是看得你又喜又忧？三大指数全线上涨，创业板更是猛冲近2%，但两市成交额却缩到1.7万亿，创下近期新低。我是帮 主郑重，做了20年财经记者，专攻中长线——这种"指数红火、资金观望"的场面，背后其实藏着市场真正的情绪。 现在的市场，就像暴风雨前的傍晚。表面风平浪静，实则暗流涌动。昨天盘面上，科技股集体回暖，CPO、固态电池领涨，煤炭、燃气这 ...

Market Overview - The three major A-share indices collectively rose, with the ChiNext Index showing the largest increase, indicating a strong performance. The Shanghai Composite Index closed with a small gain and stabilized above the 5-day moving average, while the MACD indicator showed a narrowing green bar, suggesting a release of short-term adjustment pressure [3]. Market Performance - A total of 4,064 stocks rose, resulting in a bullish market with a rise-fall limit ratio of 96:6. The market exhibited a broad-based rally, particularly in the cultivated diamond concept, coal, and gas sectors, which saw a surge in limit-up stocks. Other sectors like CPO, electrolyte, and civil aviation also performed well, while precious metals, rare earths, and agriculture experienced significant declines [4]. Trading Volume - The total trading volume of the two markets was notably reduced to 1 trillion yuan, a decrease of 10.35%. This significant drop in volume indicates a market in a style-switching phase, with new capital remaining cautious and existing capital engaged in intensified competition. Although the "volume contraction with broad gains" pattern temporarily boosts market sentiment, the lack of volume support suggests that any rebound may not be sustainable, warranting caution for potential fluctuations [5]. Fund Flow and Investor Sentiment - There was a net outflow of 4.535 billion yuan from main funds, while retail investors saw a net inflow. Institutional investors displayed a cautiously optimistic approach, focusing on sectors with clear industrial trends and policy catalysts, reflecting a strategy of "heavy structure, light index." Retail investors showed a slowdown in leveraged entry, with sentiment diverging based on themes, leading to a more cautious stance of "watching more, acting less" [6]. Investor Positioning - As of October 20, 22.77% of investors increased their positions, 21.98% reduced their holdings, and 55.25% remained inactive. The average position held by investors was 68.69% [10][15].

Market Performance - The three major A-share indices collectively rebounded today, with the Shanghai Composite Index rising by 0.63% to close at 3863 points, the Shenzhen Component Index increasing by 0.98%, and the ChiNext Index up by 1.98% [1] - The total market turnover was 1.75 trillion yuan, a decrease of 203.1 billion yuan compared to the previous trading day, with over 4000 stocks rising [1] Sector Performance - The cultivated diamond sector saw explosive growth, with stocks like Huanghe Xuanfeng, Sifangda, and Hengsheng Energy hitting the daily limit [1] - The coal sector experienced significant gains, with stocks such as Baotailong, Zhengzhou Coal Electricity, and Baotai Group also reaching the daily limit [1] - Gas stocks rose, with Guo Xin Energy hitting the daily limit [1] - The CPO concept was active, with Cambridge Technology hitting the daily limit [1] - Other sectors with notable gains included F5G concept, robotics, digital watermarking, and brain-computer interface [1] - Conversely, precious metals and gold concepts saw significant declines, with Hunan Silver and Western Gold hitting the daily limit down [1] - The jewelry sector declined, with Cuihua Jewelry dropping over 8% [1] - The rare earth permanent magnet sector weakened, led by Xinlaifu [1] - Other sectors with notable declines included small metals, genetically modified products, and pork and chicken concepts [1] Index Performance - Shanghai Composite Index: 3863.89 (+24.14, +0.63%) [1] - Shenzhen Component Index: 12813.21 (+124.27, +0.98%) [1] - ChiNext Index: 2993.45 (+58.09, +1.98%) [1] - Other indices such as the Sci-Tech 50, CSI 300, and CSI 500 also showed positive movements [1]

盘面上，CPO概念股走强，剑桥科技、瑞斯康达、汇绿生态涨停。超硬材料概念股发力，四方达、黄河 旋风先后涨停。煤炭板块持续走强，大有能源5连板，安泰集团3连板。燃气股快速上扬，国新能源5天4 板。下跌方面，有色金属大跌，黄金概念跌幅居前，湖南白银跌停。 上涨股票数量接近4100只，近百股涨停。 机构观点 巨丰投顾：周一市场震荡运行，培育钻石板块涨幅居前。从目前趋势看，市场整体趋势依然向上。红利 板块与科技股轮动加速，投资者仍需重点关注前期热门行业龙头回调后的低吸机会。在政策刺激下，A 股与经济有望同步出现向上的拐点。具体投资方向上，中线建议关注维持高景气度的半导体、消费电 子、人工智能、机器人、低空经济等领域的增量机会。 星石投资：短期来看，不确定因素压制市场风险偏好，资金出于避险或止盈的需求可能会导致市场波 动，这点可能在前期涨幅更大的科技成长风格中体现更为明显。中期角度看，当前市场仍具有牛市驱 动，流动性驱动有望持续的同时，基本面驱动或将逐步跟上。流动性方面，国内利率处于低位、海外流 动性保持宽松，意味着资金对中国权益类资产的增配有望继续。基本面方面，政策发力带动经济逐步企 稳并走出通缩仍是中期方向，基本面 ...

Core Viewpoint - The A-share market shows a broad-based rally led by growth sectors, while defensive sectors retreat, driven by policy support, easing overseas uncertainties, and favorable industry dynamics [1][2]. Market Performance - A-share indices all rose, with the Shanghai Composite Index up 0.69% to 3866.09 points, and the Shenzhen Component and ChiNext Index rising 1.38% and 2.49% respectively [2]. - The Hong Kong market rebounded strongly, with the Hang Seng Index up 2.41% to 25854.98 points and the Hang Seng Tech Index soaring 3.21% to 5945.11 points, driven by tech stocks and net inflows from southbound funds [2]. Industry Highlights and Driving Logic - The technology growth sector experienced a comprehensive surge, with the communication sector leading at a 3.66% increase, driven by accelerated infrastructure construction and overseas technological breakthroughs [3]. - The semiconductor sector is recovering, supported by domestic substitution and rising storage prices, while the robotics sector is boosted by large orders [3]. - The solid-state battery sector is also active, with expectations of technological iterations driving investment in core material segments [3]. Structural Opportunities in Cyclical Sectors - The coal sector rose 2.05%, supported by tight supply and energy security policies [4]. - Precious metals and rare earth sectors declined due to a drop in international gold prices, with the precious metals sector experiencing a significant sell-off following a $127 drop in gold prices [4]. Investment Strategy Recommendations - The current market is characterized by "policy support + capital inflow," with structural opportunities in technology growth and policy-driven sectors expected to dominate [5]. - Focus on technology growth sectors, particularly in AI and domestic substitution, with hardware segments like CPO and servers showing increased earnings certainty [5]. - In cyclical and resource sectors, monitor supply-demand improvements, especially in precious metals, while being cautious of policy risks in the coal sector [5][6].

Group 1 - The most notable sectors in the morning session were computing hardware, robotics, and coal, with companies like Cambridge Technology and Huari Co. seeing significant gains [2] - The coal sector, represented by companies like Antai Group and Dayou Energy, also experienced gains, attributed to strong performance and investor confidence [2] - Precious metals and banks faced declines, with precious metals affected by external gold price fluctuations and banks undergoing short-term adjustments [2] Group 2 - For afternoon trading, it is advised not to be overly influenced by the morning surge and to avoid chasing high-flying stocks [3] - Investors holding stocks in computing and robotics sectors with solid performance should maintain their positions unless there is a significant volume drop [3] - New investors are encouraged to avoid chasing stocks that have already surged significantly and instead look for lower-valued stocks in sectors like F5G and electric motors [3]

Core Viewpoint - The three major stock indices experienced fluctuations in the morning session, with the ChiNext Index rising over 2% in half a day [1] Sector Performance - The coal mining and processing sector remained strong, with companies such as Antai Group, Dayou Energy, and Yunmei Energy hitting the daily limit [1] - The CPO sector saw a strong rebound, with companies like Huilv Ecology and Cambridge Technology also reaching the daily limit [1] - The robotics concept was active, with Huari Co. and Zhongwei Electronics both hitting a 20% limit up [1] - Conversely, the precious metals sector showed weakness, with Hunan Silver hitting the daily limit down [1] - The rare earth permanent magnet sector declined, with Xinlaifu leading the drop [1] - The banking sector experienced significant declines, with Yunnan Rural Commercial Bank leading the losses [1] Market Overview - Overall, there was a broad increase in individual stocks, with over 4,200 stocks rising [1] - As of the midday close, the Shanghai Composite Index was at 3,866.12 points, up 0.69%; the Shenzhen Component Index was at 12,863.53 points, up 1.38%; and the ChiNext Index was at 3,008.56 points, up 2.49% [1] - The F5G concept, electric motors, and coal mining and processing sectors led the gains, while precious metals, gold concepts, and lead metal sectors saw the largest declines [1]