The Zhitong Finance App learned that on October 12, the three major A-share indices fluctuated and declined throughout the day. The Double Innovation Index all fell by more than 2%, and the Shanghai Index fell below 3,800 points. At the close, the Shanghai Stock Exchange Index fell 0.43% to 3797.24 points, the Shenzhen Securities Index fell 2.03% to 12384.87 points, the GEM index fell 2.61% to 2963.82 points, Science and Technology Innovation 50 fell 2.10% to 1426.72 points, and the Beijing Stock Exchange 50 fell 2.46% to 1011.75 points. The turnover of the Shanghai and Shenzhen markets was 1537.821 billion yuan, down 362,734 billion yuan from the previous trading day. 1,167 A-shares in the Shanghai and Shenzhen markets rose, 4,325 fell, and 81 were flat. Of these, 48 rose or stopped, and 23 fell to a halt, accounting for about 20% of the rising stocks. In terms of sectors, publishing, film and television, digital media, agricultural and commercial banks, large state-owned banks, and wind power equipment registered the highest gains; copper-clad panels, communication equipment, components, precious metals, energy metals, optical communications, optical chips, and food concepts registered the highest declines.
driving factors
On the same day, the Shanghai Stock Exchange Index closed down 0.43% to 3797.24 points. The Shenzhen Stock Exchange Index, GEM Index, and Science Innovation 50 fell 2.03%, 2.61%, and 2.10%, respectively, and the Beijing Stock Exchange 50 fell 2.46%. The main indices were clearly differentiated, with 4325 A-shares falling in the Shanghai and Shenzhen markets. Structurally, media such as publishing (+4.02%), film and television (+3.89%), and digital media (+2.65%) led the way, with more than 10 individual stocks in the sector rising and stopping; according to Sensor Tower data, ByteDance's overseas skit app PineDrama has accumulated over 100 million downloads and about 7 million daily active users, making it one of the fastest-growing apps on the overseas short drama circuit; Xinhua Media previously revealed that it plans to acquire 100% of the shares in the Finance Association by issuing shares, and once again on the same day Rise and stop, Closed for 10 consecutive ups and downs. Banks bucked the trend. Large state-owned banks rose 2.60%, agricultural and commercial banks rose 2.41%, and the intraday stock prices of China Construction Bank, Bank of China, Industrial and Commercial Bank, and China CITIC Bank reached record highs. Up to now, 21 A-share banks have disclosed their 2026 mid-term dividend plans, with total proposed dividends exceeding 260 billion yuan. Of these, the six major banks have uniformly raised their cash dividend ratio from 30% to 31%, and the total proposed dividends of more than 220 billion yuan. The wind power equipment sector rose 1.50%, and Tianshun Wind Energy rose or stopped on the previous trading day. Many listed wind power companies denied market rumors on the same day that “the EU intends to launch anti-dumping and countervailing investigations against Chinese wind power towers and key structural components”. In terms of decline, computing power, hardware and non-ferrous materials weakened. Copper-clad plates fell 6.91%, communication equipment fell 5.24%, components fell 4.51%, optical chips fell 4.11%, optical communication fell 3.87%, CPO fell 3.08%, energy metals fell 4.26%, small metals fell 4.26%, and precious metals fell 4.16%.
Popular sector aspects
1. [Cultural Media] Publishing, film and television, and digital media rose throughout the day, and more than 10 individual stocks in the sector rose or stopped. Gomai Culture 20CM went up and down by 30.47 yuan. The word Xinhua Media went up and down. Xinhua News Agency, Dragon Media, Handread Technology, New Classics, JiTV Media, Radio and Television Network, Shanghai Film, Huanrui Century, etc. rose and stopped, and Bona Pictures and Ciwen Media went up and down. In terms of catalysis, according to Sensor Tower data, PineDrama, an overseas short drama application owned by ByteDance, has accumulated over 100 million downloads and about 7 million daily active users; Tencent recently launched the “Green Bubble Skit” mini program. According to the WeChat Short Drama Content Center, the WeChat Open Platform and WeChat Marketing launched an incentive campaign for the fourth quarter of 2026 since October 16.
2. The banking sector bucked the trend and strengthened. The intraday stock prices of China Construction Bank, Bank of China, Industrial and Commercial Bank, and China CITIC Bank all hit record highs. Chongqing Commercial Bank, Bank of Chongqing, Bank of Ningbo, and Minsheng Bank registered higher gains, while Agricultural Bank and China Merchants Bank followed suit. 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 which 15 have increased their dividend ratio compared to last year; the six major banks have uniformly increased their cash dividend ratio from 30% to 31%, with a total proposed dividend of over 220 billion yuan, an increase of about 8% over last year's mid-term dividend amount, with ICBC leading the way with 53.853 billion yuan.
3. The [Wind Power Equipment] sector fluctuated and rebounded. Tianshun Wind Energy rose and stopped, Zhenhong shares rose 13.94%, Power Transmission rose 10.42%, Shuangyi Technology rose 9.79%, Daikin Heavy Industries rose 7.66%, Taisheng Wind Energy rose 6.19%; the energy storage direction Jinguan Electric and Shouhang Xinneng both rose and stopped 20CM. In terms of catalysis, several listed wind power companies denied the rumor that “the European Commission decided to launch an anti-dumping and countervailing investigation against wind turbine towers and key structural components originating in China”, and Daikin Heavy Industries confirmed to the media that it was false news; Tianshun Wind Energy said on an interactive platform on the same day that the company had stopped exporting towers to the EU since December 2021, and the relevant measures had no impact on the company's current operations.
Adjust the section
The direction of computing power hardware such as copper-clad plates, communication equipment, components, optical chips, CPO, and consumer electronics, as well as precious metals, energy metals, small metals, and food concepts, had the highest declines. In terms of individual stocks, Jin'an Guoji fell to a standstill, Zhongji Xuchuang fell 6.41%, Changxin Technology fell 5.22%, and Linkcom Instruments fell 8.13%; in the precious metals direction, Sichuan Gold fell 7.08%, Xiaocheng Technology fell 7.66%, Zhaojin Gold fell 6.86%, Chifeng Gold fell 5.27%, and in the food concept, Xinsai shares fell 9.20%, Pingtan Development fell 9.35%, and the agricultural development industry fell 8.71%. The direction of computing power and hardware mentioned above has continued to recover since late September, and the precious metals sector has continued to adjust since the beginning of September, and the decline continued to be high on the same day; the intraday stock price of Unicom Instruments fell below 1,285 yuan, and Kweichow Moutai closed at 1288.00 yuan.