On Wednesday (October 31), all three major A-share indices were in the green, with the market rebounding after an initial dip at the opening session. The ChiNext index led the gains, with the finance and photovoltaic sectors performing particularly strongly. By midday, the trading volume of the Shanghai and Shenzhen stock exchanges reached 1.38 trillion yuan, an increase of nearly 200 billion yuan from the previous trading day. Overall, more stocks rose than fell, with over 3,400 stocks rising across the market. At the close, the Shanghai Composite rose 0.36%, the Shenzhen Component rose 0.9%, and the ChiNext index rose 1.4%, indicating a significant pickup in market sentiment.
The financial sector was particularly impressive today, with stocks primarily led by brokerage firms collectively rising, including Tianfeng Securities and East Money Information hitting the daily limit. This surge was driven by the launch of a financial product query platform by the National Financial Regulatory Administration, which provides consumers with a channel to query legitimate financial product information and further improve market infrastructure.
Meanwhile, the photovoltaic sector continued to strengthen with the support of favorable policies. The National Development and Reform Commission released the "Guiding Opinions on Renewable Energy Alternatives," proposing to accelerate the construction of large wind power and photovoltaic bases focusing on deserts and wastelands, further boosting the photovoltaic industry with multiple stocks hitting the daily limit. Additionally, the real estate sector was also active. The six major state-owned commercial banks announced the implementation of a new mortgage pricing mechanism starting November 1 to alleviate unreasonable conditions in the mortgage pricing mechanism. This news lifted the real estate sector, with multiple stocks hitting the daily limit.
Low-altitude economic concept stocks also rose sharply due to the news that Xiaopeng Huitian is about to launch its "land carrier" flying car, causing stocks such as Shang Gong Group and Wanfeng Aowei to hit the daily limit, driving market funds inflow. Overall, market sentiment was high, with active hot sectors, as Hytera set a record of 22 board gains in 26 days, and Hualei shares also recorded 14 board gains in 15 days.
On the macroeconomic level, the October Manufacturing Purchasing Managers' Index (PMI) rebounded to 50.1%, and the Non-Manufacturing Business Activity Index also reached 50.2%, indicating an expansion in economic activity. Institutions believe that the market potential in the fourth quarter is significant, although the inflow of funds was evident at the opening session, whether the subsequent volume growth will be sufficient will affect the continued performance of various sectors.
