Opening data
The Zhitong Finance App learned that on September 7, the Shanghai Index rose 0.32% to 3942.51 points, the Shenzhen Index rose 0.65% to 13605.02 points, the GEM index rose 1.21% to 3326.42 points, and the Science and Innovation 50 rose 1.22% to 1596.58 points.
As of 9:36, a total of 2,529 companies in the two markets and the Beijing Stock Exchange had risen, 2,730 were down, and 299 were flat.
The increase was highest: planting, fishing, components, copper-clad panels, communication equipment, agricultural product processing, etc.; the decline was highest: non-ferrous metals, computers, coal, steel, national defense and military, non-bank finance, etc.
The situation on the market
Today, major A-share indices opened higher across the board. The GEM Index and the Science and Innovation 50 opened more than 1% higher, and the Shanghai Index opened 0.32% higher to 3942.51 points. On the previous trading day (September 4), the three major indices rushed back down and collectively closed down. The Shanghai Index closed at 3930.12 points. Today's high opening showed signs of recovery.
In the sector, technology such as communications, electronics, and mechanical equipment led the way, driven by an overnight rise of 3.37% in the Philadelphia Semiconductor Index, which bucked the trend and strengthened storage and chip equipment; the agricultural chain was active, and the processing of agricultural products strengthened. However, individual stocks declined more and less, accounting for about 45% of the total market increase, with 24 companies rising and stopping 2. The characteristics of high differentiation were obvious, and the cycle and financial direction of non-ferrous metals, computers, coal, steel, and non-bank finance weakened.
Overnight quick facts
Expectations for US non-farm supermarket interest rate hikes in August are heating up: The US Bureau of Labor Statistics announced on September 4 that non-farm payrolls increased by 162,000 in August, far exceeding market expectations of about 55,000, and the unemployment rate remained at 4.1%. CME interest rate futures show that the market implied that the probability that the Fed would raise interest rates by 25 basis points in September once rose to nearly 60%, and the 10-year US Treasury yield hit 4.79% at one point. Suppressed by expectations of interest rate hikes, the three major US stock indices collectively closed down. The Dow fell 0.51%, the S&P 500 fell 0.38%, the NASDAQ fell 0.29%, Google fell 1.11%, and Apple fell 2.51%; the Philadelphia Semiconductor Index bucked the trend and strengthened storage and chip equipment.
Eight central financial companies plan to increase capital by 360 billion yuan: On September 6, eight central financial companies, including ICBC and Agricultural Bank, announced capital increase plans, totaling 360 billion yuan to supplement core Tier 1 capital. ICBC and Agricultural Bank respectively plan to issue A-shares to the Ministry of Finance, China Tobacco Corporation and related subsidiaries to raise no more than 100 billion yuan and 160 billion yuan. The central bank announced that it will launch a 500 billion yuan buyout reverse repurchase operation on September 7 for a period of 3 months.
Computing power and AI industry policies are being implemented intensively: Seven departments including the Central Internet Information Office issued the “Implementation Plan for Promoting the Collaborative Transformation and Development of Digital Greening (2026-2030)”, which proposed exploring the 800V HVDC power supply architecture for computing power facilities; the Ministry of Industry and Information Technology issued the “Artificial Intelligence Small and Medium Enterprises Entrepreneurship Support Plan (2026-2028)”. Also, according to the Financial Federation, in response to the increased risk of overcapacity in the energy storage industry, relevant departments are comprehensively mapping out existing and planned production capacity.
Trend analysis
Today, the four major indices collectively opened higher. The GEM Index and Science and Innovation 50 opened more than 1% higher, leading the way in technology such as communications, electronics, machinery and equipment, and was driven by an overnight rise of 3.37%; however, individual stocks declined more and less, accounting for about 45% of the increase. Nonferrous, computer, coal, and non-bank finance turned green, and the high split was obvious.
Externally, the US non-agricultural sector surpassed expectations by 162,000 in August. Expectations of interest rate hikes are heating up. The yield on 10-year US bonds is running at a high level, or suppressing high valuation growth; domestic central financial companies increased capital by a total of 360 billion yuan, and the central bank launched a 500 billion yuan buyout reverse repurchase, which is supported in terms of finance and liquidity.
Some agencies believe that in the short term, they can focus on the economic direction of AI computing power and autonomy, non-ferrous precious metals, innovative drugs, etc., and use dividend defense as a base to wait for the US CPI and FOMC to land; the structural market may continue.