China's four major stock indexes open higher, led by memory chip sector
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On September 22, China's four major stock indices opened higher, with the Shanghai Composite Index up 0.35%, the Shenzhen Component Index up 0.94%, the ChiNext Index up 1.37%, and the Sci-Tech Innovation Composite Index up 1.68%. Sectors including memory storage, GPU, and HBM led gains, with Haiguang Information rising over 7%. More than 3,100 stocks advanced. On individual stocks, Zhongsu Co., Ltd. surged over 384% on its debut, and Century Digital rose over 288% on its first trading day. Everbright Securities commented that pre-holiday risk aversion and weak domestic economic data may keep the market range-bound before the holiday. However, the brokerage noted that geopolitical tensions pushing up oil prices and liquidity concerns from Fed rate hikes have already materialized. Given the loose domestic interest rate environment and intensive industrial policies, structural market opportunities may strengthen in October.
Source report
On September 22, the four major A-share indices opened collectively higher. The Shanghai Composite Index rose 0.35%, the Shenzhen Component Index gained 0.94%, the ChiNext Index increased by 1.37%, and the STAR Composite Index climbed 1.68%.
Sector Performance
- Leading sectors: Storage, GPU, and HBM sectors led the gains.
- Notable stock: Haiguang Information rose over 7%.
- Market breadth: More than 3,100 stocks advanced.
Individual Stock Highlights
- Zhongsu Co., Ltd. opened over 384% higher on its first day of trading.
- Century Digital opened over 288% higher on its debut.
Market Outlook
Everbright Securities commented that, given the lingering pre-holiday risk aversion and weak domestic economic data, the market is likely to remain in a consolidation pattern before the holiday. However, from a medium-term perspective, concerns over geopolitical conflicts driving up oil prices and liquidity tightening due to the Federal Reserve's interest rate hikes have both been partially resolved. Against the backdrop of a loose domestic interest rate environment and a密集 flow of industrial policies, structural market opportunities may strengthen in October.
Source
搜狐财经Eastern
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China A-Share Indices Open Higher Led by Tech Sectors; Over 3,100 Stocks Gain