According to the Financial Associated Press on October 24, the market fluctuated and rose in the morning, and the volume was significantly amplified. The Shanghai Stock Exchange Index set a new high in the new year, and the ChiNext Index rose by more than 2%. The half-day turnover of the Shanghai and Shenzhen stock markets was 1.23 trillion, 180.8 billion higher than the previous trading day. Hot spots on the market are taking turns to be active, and the memory chip concept is among the top gainers. Shannon Core and Puran shares have soared, both of which hit new highs. The commercial aerospace sector exploded strongly, with more than 10 commercial aerospace concept stocks such as Dahua Intelligent 2-Link and Aerospace Technology hitting their daily limit. Computing hardware concept stocks fluctuated and rose, and Zhongji InnoLight reached a new high. In terms of decline, the coal sector collectively fell sharply, with Antai Group and Yunmei Energy falling by the limit. As of the close, the Shanghai Stock Exchange Index rose 0.42%, the Shenzhen Component Index rose 1.3%, and the ChiNext Index rose 2.09%.
In terms of individual stocks, the number of stocks with daily limit in early trading today was 39 (excluding ST and unlisted new stocks), the closing rate was 75%, and the number of listed stocks was 9. Yingxin Development has 5 consecutive boards, Shilong Industrial has 4 consecutive boards, Zhujiang Piano has 3 consecutive boards, Pingtan Development, Nongxin Technology, Chang Aluminum Co., Ltd., Dahua Intelligent, Geer Software, and Spacetime Technology have 2 consecutive boards.
On the sector, memory chips have exploded again, with Puran, Kexiang, Dawei, and Spacetime Technology reaching their daily limit, while individual stocks such as Shannon Core, Longsys, and Netac Technology have risen by more than 10%.
On the news, it is reported that major memory suppliers such as Samsung Electronics and SK Hynix will adjust their quotations to customers in the fourth quarter of this year. DRAM and NAND flash memory prices will increase by as much as 30% to meet the surge in demand for AI-driven memory chips. In addition, U.S. storage concept stocks strengthened again overnight, with SanDisk rising more than 13% and its stock price hitting a record high.
The collective price increase by the two giants is behind the surge in demand brought about by the outbreak of the artificial intelligence industry. Morgan Stanley’s latest analysis points out that driven by the AI boom, the memory chip industry is ushering in a “super cycle” and global storage industry revenue is expected to exceed the US$200 billion mark in 2025.
Commercial aerospace concept stocks also broke out, with Aerospace Intelligent Equipment, Shanghai Harbor, China Satellite, Aerospace Changfeng, and Shanghai Hugong rising by the limit, with Western Testing and Aerospace Huanyu leading the gains.
In terms of news, the communiqué of the Fourth Plenary Session of the Central Committee of the Communist Party of China was released. The plenary session proposed building a modern industrial system and consolidating and strengthening the foundation of the real economy. We must insist on focusing our economic development on the real economy, adhere to the direction of intelligence, greenness, and integration, accelerate the construction of a manufacturing, quality, aerospace, transportation, and network power, maintain a reasonable proportion of manufacturing, and build a modern industrial system with advanced manufacturing as the backbone.
