(责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇10月10日｜A股主要指数持续走弱，创业板指跌幅扩大至超3%，上证指数跌0.45%，深证成指跌 1.6%。半导体、固态电池、算力硬件等热门赛道股调整，全市场超2300只个股下跌。 | 上证指数 | 3910.82 | -23.15 | -0.59% | | --- | --- | --- | --- | | 000001 | | | | | 创业板指 | 3177.84 | -83.98 | -2.57% | | 399006 | | | | | 深证成指 | 13515.65 | -209.91 | -1.53% | | 399001 | | | | | 科创50 | 1482.49 | -56.59 | -3.68% | | 000688 | | | | | 北证50 | 1517.56 | -8.25 | -0.5 ...

Market Overview - Last Friday, the market experienced fluctuations, with the ChiNext Index dropping over 2.5% during the session. The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion, a decrease of 224.2 billion compared to the previous trading day. The Shanghai Composite Index fell by 0.65%, the Shenzhen Component Index by 1.76%, and the ChiNext Index by 2.60% [1]. Sector Performance - In terms of sector performance, wind power and insurance sectors saw the highest gains, while gaming, computing hardware, and photolithography sectors faced the largest declines [1]. Analyst Insights - Everbright Securities predicts that the index will likely maintain a fluctuating pattern before the holiday, with the current market style indicating a short-term adjustment in the technology sector, which does not alter the mid-term upward trend. The upcoming Hefei International New Energy Vehicle Conference on September 29 is expected to stimulate related concepts with over 100 million in consumer vouchers and subsidies planned [1]. - GF Securities highlights a significant characteristic in the market structure entering the fourth quarter: since 2005, cyclical industries have had over a 65% probability of rising in Q4, with more than 60% likelihood of outperforming the CSI 300 Index. This is contingent on the cyclical industries benefiting from a "calendar effect" based on improved macroeconomic fundamentals [2].

Group 1 - The core market sentiment reflects a significant decline in the ChiNext index, dropping by 2.6%, with over 3,400 stocks falling, particularly in the technology sector such as gaming and computing hardware [1][3] - The technology sector is experiencing a collective pullback, attributed to high valuations not matching earnings growth, despite some stocks having over 100% gains this year [3][4] - The wind power and chemical fiber sectors are showing resilience, with companies like Weili Transmission and Shunfeng Mingyang seeing substantial gains, indicating strong performance amid broader market declines [1][4] Group 2 - The wind power sector benefits from global energy transition trends, with domestic profitability turning a corner and new business opportunities in hydrogen and ammonia [4][5] - The chemical fiber industry is undergoing supply-side reforms, with companies like Shunfeng Mingyang expanding into high-value products, contributing to their stock performance [4][5] - The trading volume decreased to 2.17 trillion yuan, indicating a cautious sentiment among large investors, with a shift from high-valuation tech stocks to undervalued sectors [5][6] Group 3 - The strategy suggests avoiding high-valuation sectors like gaming and computing hardware while focusing on performance-driven sectors like wind power and chemical fiber [6][7] - Maintaining a cash reserve and controlling positions below 60% is recommended to prepare for clearer market directions post-holiday [7][8] - The current market adjustment is viewed as a strategic shift from speculative bubbles to value investments, emphasizing the importance of policy support and earnings certainty [8]

Market Overview - The market experienced a day of volatility with the ChiNext Index falling over 2.5%. The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion yuan, a decrease of 224.2 billion yuan compared to the previous trading day. Over 3,400 stocks declined across the market [1][8] Sector Performance Wind Power Sector - The wind power sector showed strength, with companies like Jixin Technology and Weili Transmission hitting the daily limit. The National Energy Administration reported that as of the end of August, the total installed power generation capacity in the country reached 3.69 billion kilowatts, a year-on-year increase of 18.0%, with wind power capacity at 580 million kilowatts, up 22.1% year-on-year. Analysts suggest that wind turbine manufacturers may still present investment opportunities due to a combination of factors including rising profitability and overseas market potential [2][7] Nonferrous Metals Sector - The nonferrous metals sector was also active, with Jingyi Co. achieving a three-day limit increase. The China Nonferrous Metals Industry Association expressed strong opposition to "involution" competition in the copper smelting industry. Additionally, the Grasberg mine in Indonesia, the second-largest copper mine globally, announced a force majeure due to a landslide, impacting production [2][10] Individual Stock Performance - The market saw a significant increase in losses, particularly among high-profile stocks. Companies such as Huasoft Technology and Kaimete Gas hit the daily limit down. The technology sector, which had been a market leader, experienced notable declines, with stocks like Luxshare Precision and Industrial Fulian dropping over 5% [5][6] Future Market Analysis - The market is expected to continue its adjustment phase, with the ChiNext Index showing relative weakness. The Shanghai Composite Index is maintaining a range between 3,740 and 3,900 points. Analysts believe that as long as this range is not broken, market risks remain limited. The recent declines may be attributed to profit-taking ahead of the holiday, and there may be opportunities for recovery in popular sectors once selling pressure is alleviated [8][10]

Market Overview - The market experienced a day of volatility with the ChiNext Index dropping over 2.5% during the session [1] - By the end of trading, the Shanghai Composite Index fell by 0.65%, the Shenzhen Component Index decreased by 1.76%, and the ChiNext Index declined by 2.60% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion yuan, a decrease of 224.2 billion yuan compared to the previous trading day [1] Index Performance - Shanghai Composite Index closed at 3828.11, down 0.65% with a loss of 25.19 points [2] - Shenzhen Component Index ended at 13209.00, down 1.76% with a loss of 236.90 points [2] - ChiNext Index finished at 3151.53, down 2.60% with a loss of 84.23 points [2] - The North 50 Index decreased by 1.81% to 1528.98 [2] Sector Performance - Wind power and insurance sectors showed strong performance, while gaming, computing hardware, and photolithography sectors faced significant declines [3] - Over 3400 stocks in the market experienced declines, indicating a broad market downturn [2] - Notable stocks included Jixin Technology, which achieved a two-day consecutive limit-up, and Weili Transmission, which hit the daily limit [2]

Market Overview - The ChiNext index surged over 2.22%, with Ningde Times surpassing the market capitalization of Moutai, indicating strong market activity [1][3] - The overall market showed mixed performance, with the Shanghai Composite Index rising 0.16%, the Shenzhen Component Index increasing by 1.14%, and a significant trading volume of 1.5558 trillion yuan, up 135.5 billion yuan from the previous day [3] Sector Performance - The AI application sector experienced significant gains, with companies like Kunlun Wanwei rising by 10% and others like Yiwang Yichuang and Tianxiaxiu hitting the daily limit [3][4] - The copper sector also saw strong performance, with companies such as Northern Copper Industry and Jingyi Co. hitting the daily limit, driven by positive news [3] - Conversely, sectors like precious metals, port shipping, and gas showed weakness, with companies like Nanjing Port and Ningbo Ocean experiencing declines, and the real estate sector facing significant drops, including a limit down for Dalong Real Estate [3][4] Investment Insights - The surge in the ChiNext and Ningde Times is attributed to the solid foundation of the battery sector and the current investor preference for growth stocks [4] - The leading sectors in AI applications and computing hardware are benefiting from industry demand, while the underperforming sectors may be experiencing a necessary correction or missing out on recent news [4] - Investors are advised to focus on stocks with solid fundamentals rather than being swayed by short-term market fluctuations, emphasizing the importance of patience in investment decisions [4]

2025.09.25 本 文字数：1373，阅读时长大约2分钟 作者 | 一财阿驴 11:31 A股午盘｜沪指涨0.16% 互联网电商板块活跃 上证指数涨0.16%，深成指涨1.14%，创业板指涨2.22%。游戏、互联网电商、能源金属、光伏设备板块 涨幅居前，贵金属、港口航运板块走弱。 沪深两市半日成交额1.54万亿，较上个交易日放量1348亿。全市场超3200只个股下跌。 11:10 宁德时代港股涨超4%，现报528港元/股；宁德时代A股涨逾5%，A股总市值超1.8万亿元并超越贵 州茅台，成交额超100亿元。 10:59 消费电子板块震荡走强，华勤技术触及涨停，创历史新高，歌尔股份、漫步者、蓝思科技等跟 涨。消息面上，商务部等八部门日前联合印发《关于大力发展数字消费共创数字时代美好生活的指导意 见》提出，增加人工智能终端产品有效供给，释放人工智能手机、电脑、智能机器人、可穿戴设备、桌 面级3D打印设备等新产品消费潜力。 10:51 A股三大指数全线翻红，创业板指涨近2%，上证综指涨0.16%，深证成指涨1.02%。游戏、互联网 电商概念股涨幅居前。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨 ...

Core Viewpoint - The A-share market shows positive momentum with significant gains in the internet e-commerce and gaming sectors, while other sectors like precious metals and port shipping are underperforming [3][4]. Market Performance - The Shanghai Composite Index rose by 0.16%, the Shenzhen Component Index increased by 1.14%, and the ChiNext Index surged by 2.22% [3][5]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.54 trillion yuan, an increase of 134.8 billion yuan compared to the previous trading day [4][8]. - Over 3,200 stocks in the market experienced declines, indicating a mixed performance across sectors [4]. Sector Highlights - The gaming and internet e-commerce sectors led the gains, with notable performances from companies like Ningde Times, which saw its stock price rise over 5% in A-shares and over 4% in Hong Kong shares [5][6]. - The consumer electronics sector also showed strength, with companies like Huaqin Technology hitting their upper limit and reaching historical highs [5][6]. - The AI application sector experienced significant activity, with stocks like Tianxiexiu and Yiwang Yichuang seeing substantial increases [11]. Notable Company Developments - Alibaba announced plans to invest heavily in AI infrastructure, with a commitment of 380 billion yuan, which is expected to drive growth in related sectors [6][12]. - Chery Automobile made its debut on the Hong Kong Stock Exchange, opening with an increase of over 11% [15][17]. Economic Indicators - The People's Bank of China conducted a reverse repurchase operation of 483.5 billion yuan at an interest rate of 1.40%, indicating ongoing liquidity management in the market [17]. - The RMB to USD exchange rate was reported at 7.1118, reflecting a depreciation of 41 basis points [18].

Group 1 - The core viewpoint is that computing hardware stocks experienced a rebound, with Inspur Information hitting a historical high and surpassing a market capitalization of 110 billion [1] - Other companies in the sector, such as Huagong Technology, approached their daily limit increase, while Guangku Technology, Cambridge Technology, Guangxun Technology, Unisplendour, and Ruijie Networks also saw gains [1]

Group 1 - CPO and other computing hardware stocks are experiencing a sustained rebound [1] - Deep Science and Technology (深科达) has risen over 10% [1] - Huagong Technology (华工科技) has hit the daily limit up [1] - New Yisheng (新易盛) has increased by over 6% [1] - Zhongfu Circuit (中富电路) and Guangku Technology (光库科技) are among the top gainers [1]