The A-share market initially declined but then rebounded sharply, with the ChiNext Index's increase at one point exceeding 2%. By the midday close, the Shanghai Composite Index reported at 2733.38 points, up 0.59%; the Shenzhen Component Index rose by 1.25%, and the ChiNext Index increased by 0.99%. The turnover for the half-day was 427.944 billion yuan, a significant increase compared to the previous period; 4,866 stocks were in the green, 43 were unchanged, and 439 declined.
On the market front, consumer-related sectors across the board warmed up in the morning, with education, food, retail, and tourism sectors leading the gains, while the real estate sector remained active; however, sectors such as highways and ports were lackluster.
The Hong Kong stock market was also hot in sync, with the Hang Seng Index up 1.81% and the Hang Seng Tech Index rising by more than 3% by the midday close; Hong Kong real estate stocks also rose in tandem, with China Resources Land and Longfor Group leading the Hang Seng Index.
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Consumer Goods Sector Rises Collectively
Financial Technology Concept Pulls Strongly
Consumer stocks continued to gain momentum, with dairy, liquor, pre-cooked dishes, and food processing concepts all rising.
In terms of individual stocks, by the midday close, Pinwo Food saw a 20CM limit-up, and Huangtai Liquor, Hui Fa Food, Gan Yuan Food, and several others collectively hit their upper limit.
According to estimates by the Data Center of the Ministry of Culture and Tourism, during the 2024 Mid-Autumn Festival holiday, 107 million domestic trips were made nationwide, a 6.3% increase compared to the same period in 2019; the total expenditure for domestic tourists was 51.047 billion yuan, an 8.0% increase compared to the same period in 2019. Wu Sa, Deputy Director of the Economic Research Institute of the Macroeconomic Research Institute of the National Development and Reform Commission, stated that during this year's Mid-Autumn Festival, the consumption potential of our country's residents continued to be released, especially in areas such as travel, catering, and movies, all of which showed strong growth momentum, laying a solid foundation for the sustainable development of the consumer market in the future.
Additionally, the State Administration for Market Regulation and the Ministry of Finance recently issued a notice on implementing rewards for internal whistleblowers in food production and operation enterprises. It mentioned that after the market supervision department receives a report from an internal whistleblower, it should promptly conduct an investigation and verification according to relevant regulations and inform the internal whistleblower whether a case has been filed. If the report is verified to be true, and the market supervision department responsible for the investigation and handling has made the final decision, internal whistleblowers who meet the reward conditions should be rewarded. In addition to material rewards, with the consent of the internal whistleblower, spiritual rewards such as public commendation, issuance of certificates of honor, and granting of honorary titles can be implemented.In the morning, sectors such as agriculture, forestry, animal husbandry, fishery, social services, and retail trade saw the largest gains, with stocks like Jingliang Holdings, Fuchun Shares, Offcn Education, Shanghai Jiubai, and Aiyin Room hitting the daily limit.
Financial technology and digital currency concepts were active throughout the morning. Gu Ao Technology and Yin Zhijie both achieved a 20CM daily limit, Hua Ruan Technology hit the daily limit, and Nantian Information touched the daily limit during the trading session.
Hainan Haiyao has hit the daily limit for two consecutive days.
Baodian Electric reappears with a "quasi ground-to-ceiling board"
The concept of state-owned enterprise reform has shown some differentiation. Hainan Haiyao, which hit the daily limit yesterday, continued to maintain a daily limit status after opening today. As of the midday closing, Hainan Haiyao reported 4.4 yuan per share, with 1.27 million shares on the sell side.
In contrast, Baodian Electric opened close to the daily limit in the morning and then surged straight up after opening to seal the daily limit, achieving a "quasi ground-to-ceiling board" and realizing "8 out of 12 days." In the last 12 trading days, Baodian Electric has accumulated a nearly 130% increase.
In addition, there are several stocks that hit the daily limit in the concept of state-owned enterprise reform, including Jiangtian Chemical, Zhuolang Technology, Great Wall Electric, and Dalian Thermal Power.