According to the Financial Associated Press on October 29, the market fluctuated and rose in the morning. The Shanghai Stock Exchange Index rose again to above 4,000 points during the session, and the GEM Index once rose by more than 2%. The half-day turnover of the Shanghai and Shenzhen stock markets was 1.42 trillion, which was 71.9 billion higher than the previous trading day. Hot spots rotated rapidly, with the Hainan plate rising strongly and Chinatungsten hitting its daily limit. The large financial sector broke out partially, with the securities sector leading the gains, Huaan Securities hitting its daily limit, and Northeast Securities hitting its daily limit. The concept of quantum technology has been active repeatedly, with HKUST Guochuang and Geer Software hitting their daily limit, and China Information Technology hitting their daily limit. On the downside, the banking sector performed weakly, with Bank of Chengdu falling more than 5%. As of the close, the Shanghai Stock Exchange Index rose 0.37%, the Shenzhen Component Index rose 0.9%, and the ChiNext Index rose 1.35%.
In terms of individual stocks, the number of stocks with daily limit in early trading today was 41 (excluding ST and unlisted new stocks), the closing rate was 62%, and the number of stocks with continuous boards was 9. Pingtan Development had 7 boards in 9 days, Spacetime Technology had 6 boards, and Chinatungsten High-tech, Realtech, Fangda Carbon, Ningbo Jingda, Hefu China, Honghe Technology, and Haixing Electric Power had 2 boards.
In terms of sectors, Hainan concept stocks were among the top gainers, Hainan Development, Haide Holdings, Hainan Automobile Group and other stocks were at daily limit, and stocks such as Kangzhi Pharmaceutical, Hainan Mining and Strait Holdings were among the top gainers.
According to the news, the island-wide customs closure operation of the Hainan Free Trade Port has entered the sprint stage and will be officially launched on December 18 this year. At present, various regions and industries in Hainan continue to step up efforts to implement the free trade port policy and make every effort to complete the island-wide customs closure operation.
The securities sector also strengthened during the session, with Huaan Securities rising by the daily limit, Northeast Securities rising by more than 9%, and Changjiang Securities, GF Securities, Dongxing Securities, Huaxi Securities and other stocks leading the gains.
On the news, the latest disclosed third quarter report showed that Huaan Securities achieved revenue of 4.423 billion yuan, a year-on-year increase of 67.32%; net profit attributable to the parent company was 1.883 billion yuan, a year-on-year increase of 64.71%. In addition to Soochow Securities, which previously disclosed performance forecasts, 10 listed securities firms have officially released their third quarter reports, and their net profits attributable to their parent companies have all achieved double-digit or above positive growth.
Cathay Haitong Securities said that driven by the three major positive factors of policy, capital and performance, the brokerage sector is in a mismatch stage where fundamentals continue to improve and valuations hover at low levels. The high growth in the third quarter results of listed securities firms will be the key to breaking this situation.
The concept of quantum technology has been active repeatedly, with USTC Guochuang rising by more than 10%, China Information Technology and Tianrongxin hitting the limit, and Guodun Quantum, Fujitec, and Western Superconducting leading the gains.
On the news, NVIDIA launched NVQLink to connect quantum and GPU computing for 17 quantum computing companies and 9 scientific research laboratories. NVQLink is an open system architecture that tightly couples the extreme performance of GPU computing with quantum processors to build accelerated quantum supercomputers. In addition, the “15th Five-Year Plan” proposes to proactively deploy future industries and promote quantum technology, biomanufacturing, hydrogen energy and nuclear fusion energy, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications to become new economic growth points.
Power grid equipment was also active, with Sifang Electric, Huatong Cable, Haixing Electric Power, China Xidian Electric, and Changgao Electric reaching their daily limit. Jinpan Technology, Xinte Electric, Kellu Electronics and other stocks were among the top gainers.
Huaan Securities released a research report stating that the overseas market performance of power equipment remains strong, and transformer exports maintain rapid growth. According to the latest data from the General Administration of Customs, from January to August 2025, total transformer exports reached US$5.338 billion, a year-on-year increase of 38.0%. Driven by emerging AI demand, the overall demand for power equipment in overseas North America is upward, and the demand for overseas power equipment continues to improve.
Taken together, the market fluctuated and rose today, with the three major indexes rising across the board, and the Shanghai Composite Index once again reaching 4,000 points. Among them, Hainan concept stocks broke out across the board, and the general financial direction represented by securities strengthened during the session. In addition, power grid equipment, nonferrous metals, and quantum technology are also active. However, it should be noted that as of midday closing, more than 3,200 stocks were still down. Overall, as the index fluctuates upward, the market still continues structural differentiation, and the focus of response is still on focusing on core popular sectors.
