The Zhitong Finance App learned that on October 12, the three major A-share indices collectively opened lower, rushing higher and falling in early trading. The three major indices collectively became popular during the intraday period, then weakened again. The growth style of the Shenzhen market led the decline. The market showed a pattern of “the Shanghai Index fell slightly, double innovation weakened, individual stocks generally declined, and AI applications and power equipment were structurally active”. By the midday close, the Shanghai Index fell 0.12% to 3809.08 points, the Shenzhen Index fell 1.03% to 12512.10 points, and the GEM index fell 1.27% to 3004.81 points. More than 4,000 stocks fell across the market. The three markets of Shanghai, Beijing, and Shenzhen traded 1022.5 billion yuan in half a day, down 155.8 billion yuan from the previous trading day. On the capital side, financial news agency's monitoring data shows that in early trading, the main capital flows into the cultural media, telecommunications industry, power grid equipment and other sectors, with a net outflow of electronics, communications, non-ferrous metals, etc., of which the electronics sector had a net outflow of more than 2.8 billion yuan; in terms of individual stocks, the main capital of the Ningde Era ranked first with net capital purchases of over 600 million yuan. Pengding Holdings, Cambric, and Tianshunfeng Energy received the highest net inflows of main capital. Changxin Technology had net sales of over 700 million yuan, and Zhongji Xuchuang and Zhaoyi Innovation had net capital outflows Ahead.
Overview of the plate
On the upward side, AI applications such as film and television, and cultural media led the way. The power grid equipment sector rose and stopped, and the wind power equipment and banking sectors showed active performance; on the downside, the planting, forestry, and food concept sectors declined sharply after rising, while sectors such as small metals, precious metals, and MLCC registered the highest declines. Overall, the Shanghai Index fluctuated in a narrow range, supported by large financial powers such as banks. The growth direction of the Shenzhen market generally receded. Capital was withdrawn from high-ranking technology sectors such as semiconductors and consumer electronics, and rotated in a lower direction, such as film and television media and power equipment. Individual stocks declined more and less, and the money-making effect was concentrated on a few structural hot spots.
Popular sections
1. The film and television media sector set off a wave of ups and downs
The film and television media sector continued to rise. Xinhua Media gained 10 consecutive gains, Guomai Culture went up and down by 20CM, Decai shares rose and stopped, Bona Pictures, Ciwen Media, Shanghai Film, JiTV Media, Xinhua Wenxuan, Longpan Media, etc., with Huanrui Century, Palm Reading Technology, and Huace Film and Television showing the highest gains.
Comment: According to Sensor Tower data, PineDrama, a short drama application owned by ByteDance, surpassed 100 million downloads and about 7 million daily active users after it went live, making it one of the fastest-growing apps on overseas skit tracks. Furthermore, Bona Pictures previously announced that the first domestic AI hyperrealistic theatrical film “Sanxingdui: Future Past” is scheduled to hit theaters nationwide on October 23. The film has obtained a screening license from the National Film Administration. Also, according to statistics, as of October 11, the total box office of 2026 movies (including pre-sales) has exceeded 31 billion yuan.
2. Multiple stocks in the power grid equipment sector rose and stopped
Multiple stocks in the power grid equipment sector rose and stopped. Jinguan Electric rose and stopped at 20CM, and Remote Shares went up and down, Zhongyeda, Great Wall Electric, and Tongda Power rose and stopped, and Baobian Electric and Dexin Technology fell after hitting a rise and stop in the intraday session (up 6.2% and 8.6% in the midday session, respectively), and YiNeng Electric, Shuangjie Electric, and China Western Power continued to rise.
Comment: According to the news, according to CCTV News and other media reports, China's investment in new power grids during the “15th Five-Year Plan” period is expected to exceed 5 trillion yuan, far exceeding the “14th Five-Year Plan” period. According to Xinhua News Agency, the fixed asset investment in the national grid has already exceeded 310 billion yuan in the first half of 2026, an increase of 12.6% year on year, and China Southern Power Grid completed investment of 89.262 billion yuan, an increase of 14.79% year on year.
3. The wind power equipment sector fluctuated and rebounded
The wind power equipment sector fluctuated and strengthened. Tianshun Wind Energy rose or stopped, Shuangyi Technology and Power Transmission rose more than 10%, while Daikin Heavy Industries and Taisheng Wind Energy had the highest gains.
Comment: According to the news, several domestic offshore wind power projects have recently begun intensive early bidding and fan procurement, and the offshore wind power industry chain boom is expected to heat up; in addition, the 2026 Beijing International Wind Energy Conference and Exhibition will be held from October 14 to 16.
4. The banking sector continues to reach record highs
The banking sector continued to be strong. Stock prices of Bank of China, China CITIC Bank, Industrial and Commercial Bank, and China Construction Bank continued to reach record high intraday highs, while Yunong Commercial Bank, Bank of Chongqing, Bank of Ningbo, and Minsheng Bank registered the highest gains.
Comment: According to the news, up to now, 21 A-share banks have disclosed their 2026 mid-term dividend plans, with a total of over 260 billion yuan in dividends. Of these, 15 have increased their dividend ratio compared to last year, and the cash dividend ratio of the six major banks has been uniformly raised from 30% to 31%. Furthermore, the interest rate discount policy for residential home purchase loans has been officially implemented since October 1, and the implementation period is tentatively set for 1 year.