本报（chinatimes.net.cn）记者帅可聪 北京报道 2025年10月9日，国庆中秋双节假期结束后的首个交易日，A股市场大幅上扬，上证指数成功突破3900 点关口，续创十年新高。 "4000点近在眼前，这轮行情大概率能够突破。"多位资深投资者在与记者交流时如是表示。 知名私募星石投资相关人士向《华夏时报》记者分析，考虑当前国内经济基本面企稳，越来越多的板块 开始具备产业趋势或明确驱动，货币、财政等政策仍在持续为经济保驾护航，叠加权益类资产在大类资 产比价中仍有性价比，中期维度来看市场仍处于可为阶段。 时隔十年站上3900点 10月9日，A股三大指数高开后震荡走强，上证指数自2015年以来首次突破3900点关口，盘中最高触及 3936点；深证成指、创业板指盘中均一度涨超2%，双双创下三年多来新高。 截至收盘，上证指数涨1.32%，报3933.97点；深证成指涨1.47%，报13725.56点；创业板指涨0.73%，报 3261.82点。此外，沪深300指数涨1.48%，科创50指数涨2.93%，北证50指数跌0.18%。 A股沪、深、京三市全天成交额达2.67万亿元，较节前9月30日放量逾4700亿元 ...

Market Performance - Shanghai Composite Index closed at 3883.56 points, up 1.51%, with a trading volume of 3.18 trillion yuan, marking a new high for the year [2] - The rise was driven by increased liquidity from institutional funds, insurance capital, and industrial capital, alongside a recovery in manufacturing sentiment and improved corporate profit expectations [2] Hot Sectors - AI and technology stocks led the market, with significant gains in computing hardware (CPO, GPU), satellite navigation, and industrial internet sectors; Cambrian's stock price reached a new high, nearing Kweichow Moutai as the most expensive stock in A-shares [3] - New energy vehicles and rare earth permanent magnet stocks surged due to policy support and price recovery, while the consumer sector was boosted by expectations for the Mid-Autumn Festival [3] Policy Developments - New housing policies in Shanghai allow unlimited home purchases for eligible families outside the outer ring, with a 15% increase in public housing loan limits to 1.84 million yuan; mortgage rates will no longer differentiate between first and second homes [4] - The national carbon market is accelerating, with plans to cover major industrial emissions by 2027 and establish a carbon pricing mechanism by 2030, supporting financial institutions in carbon pledge financing [4] International Market Signals - Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts, raising market expectations for a 25 basis point cut in September to 91% [5] - The US dollar index initially fell but later recovered, while the offshore yuan briefly rose above 7.15, indicating a spillover of global liquidity easing into Hong Kong stocks and commodities [6] Company Updates - Pinduoduo's Q2 earnings exceeded expectations, with a 7% revenue increase and adjusted net profit of 32.7 billion yuan, leading to a nearly 5% rise in stock price [8] - Notable company issues include the investigation of Yutian Technology's president for insider trading, Jianghuai Automobile's net loss of 773 million yuan in the first half, and China Evergrande's formal delisting from the Hong Kong Stock Exchange with cumulative losses exceeding 800 billion HKD [10] Industry Breakthroughs - The satellite internet sector is set to begin commercial operations with licenses expected to be issued, although full service will take 2-3 years [10] - Nvidia launched a new generation of robot chips, Jetson AGX Thor, with a 6.5 times increase in computing power [11] Additional Market Insights - Anticipated reduction in fuel prices, with a decrease expected to save private car owners 7.5 yuan per full tank of 92-octane gasoline [12] - The ETF market has reached a scale of 4.97 trillion yuan, approaching the 5 trillion yuan milestone [14]