The half-day turnover of the Shanghai and Shenzhen stock markets was 1.14 trillion, a decrease of 79.9 billion from the previous trading day. From the perspective of sectors, power grid equipment concept stocks exploded, with Moen Electric, Zhongneng Electric, and Shenma Electric both on the board, and TBEA hit a new high. Pan-consumer concept stocks collectively strengthened, with Caesars Tourism, Anji Food and other stocks rising by their daily limits. The coal sector has been active repeatedly, with Antai Group recording 9 shares in 15 days and Baotailong rising to its daily limit. The Hainan sector strengthened again, with Haima Motor and other stocks hitting their daily limit. On the downside, quantum technology concept stocks adjusted, and HKUST Guochuang and Geer Software fell sharply. As of the close, the Shanghai Stock Exchange Index rose 0.05%, the Shenzhen Component Index fell 0.15%, and the ChiNext Index rose 0.17%.
In terms of individual stocks, the number of stocks that have reached their daily limit in early trading today is 44 (excluding ST and unopened new stocks), the board closure rate is 75%, and the number of listed stocks is 16. Hefu China has 7 boards, Haima Automobile has 4 boards, Yingxin Development, Hailu Heavy Industry, and Antai Group have 3 boards, and Mindong Electric Power, Bofei Electric, Ropuskin, Moen Electric, Snowman Group, Zhongneng Electric, Xiamen Engineering Co., Ltd., and Shenma Power have 2 boards.
In terms of sectors, the Hainan Free Trade Zone sector strengthened again, with Intercontinental Oil and Gas, Haima Automobile, and Strait Holdings rising by the daily limit. Kangzhi Pharmaceutical, Hainan Airport, and Luoniushan were among the top gainers.
According to news, starting from November 1, the new duty-free shopping policy on Hainan’s outlying islands will be officially implemented. The core adjustments of the new policy include: adding pet supplies and portable musical instruments to the product categories, bringing the total to 47 categories; some domestic products such as clothing, shoes and hats can be sold duty-free in duty-free shops; the applicable group has been expanded to departing passengers, who enjoy an annual tax exemption of 100,000 yuan with no limit on the number of times; island residents who have left the island within a natural year can purchase 15 categories of “purchase and pick-up” products without limit throughout the year. The new policy better meets the diversified shopping needs of tourists and further unleashes the effect of the offshore duty-free policy. In addition, on December 18 this year, the island-wide customs closure operation of the Hainan Free Trade Port will also be officially launched.
The power grid equipment concept stocks broke out, with Moen Electric, Zhongneng Electric, Shenma Electric Co., Ltd., Jinpan Technology, TBEA, Baobian Electric, etc. hitting their daily limit.
In the news, Microsoft CEO Satya Nadella said in a recent interview with OpenAI CEO Sam Altman that the current problem facing the artificial intelligence industry is not excess computing power, but a lack of enough power to support the operation of all GPUs. Soochow Securities pointed out that it will increase the estimated installed capacity of U.S. energy storage in 2026 to 76GWh, a year-on-year increase of nearly 44%, and data center-related contributions will be 34GWh. At the same time, it is expected that U.S. energy storage will exceed 350GWh in 2030, with a compound annual growth rate of 40-60%, corresponding to battery demand of nearly 500GWh.
On the other hand, the scale of investment in my country’s power grid continues to increase. Previously, the State Grid announced the winning bid results for the fifth substation equipment (including cables) for the latest batch of power transmission and distribution projects. Relevant national departments have accelerated the research and promulgation of policy documents to promote the integrated development of new energy, coordinated the optimization and upgrading of new energy and traditional industries, promoted the integration and mutually reinforcing development of new energy and strategic emerging industries such as computing power and green hydrogen, and used new energy layout to drive productivity layout.
Large consumer concept stocks collectively strengthened, with duty-free shops, tourist hotels, food, retail and other subdivisions all showing active performance. Caesars Tourism, Anji Food, Dongbai Group and other stocks rose by the limit, and Gaishi Food, Yiyi Yiyi Konjac, Huifa Food, Zhongbai Group and other stocks were among the top gainers.
On the news, the General Office of the State Council issued a notice on the arrangements for some holidays in 2026 on November 4. The 2026 Spring Festival holiday will last from February 15 to February 23, 2026, with a nine-day holiday. Help further unleash consumption potential.
The coal sector has been active repeatedly. Antai Group has 9 boards in 15 days, Baotailong has hit its daily limit, Dayou Energy has risen by more than 8%, and Liaoning Energy, Jinkong Coal Industry, and Shaanxi Black Cat are among the top gainers.
Since the third quarter, on the supply side, under the influence of factors such as safety supervision and over-production verification, the growth rate of domestic coal production has gradually slowed down. The above-mentioned factors restricting the release of supply in the fourth quarter still remain; on the demand side, the cooling in the north accelerated in October, and the demand for winter storage was also released in advance. Considering that the winter in the north lasts long this year, there may be subsequent demand for replenishment, and there may be a supply gap again in December.
Taken together, today’s early trading once again showed strong resilience. Affected by the external market, it opened sharply lower and fluctuated higher. In the end, both the Shanghai Stock Exchange Index and the ChiNext Index turned red. Among them, power grid equipment concept stocks exploded across the board, with 10 stocks in the sector hitting their daily limit, and successfully led to a rebound in photovoltaics and lithium batteries, while the Hainan Free Trade Zone concept became active again. It can be seen that after the previous continuous adjustments, short-term selling pressure has been basically released, and it still has strong momentum to take over. The fly in the ointment is that the volume can shrink again in early trading, and the situation of limited incremental funds has not improved. Therefore, the short-term trend is still viewed as a shock structure, and the focus is on those directions that are active against the trend during adjustment.
