The Zhitong Finance App learned that on October 27, the three major A-share indices fluctuated and declined after opening slightly higher in early trading. The decline accelerated in the afternoon, and all closed close to the lowest point of the day. At the close, the Shanghai Stock Exchange index fell 1.33% to 3648.30 points, the lowest since August 12, 2025; the Shenzhen Stock Exchange Index fell 2.50% to 11245.73 points, the GEM index fell 3.41% to 2548.15 points, Science and Technology Innovation 50 fell 4.81% to 1252.28 points, and the Beijing Stock Exchange 50 fell 3.35% to 931.64 points.
The turnover of the Shanghai and Shenzhen markets was 1460.941 billion yuan, a decrease of 147.852 billion yuan from the previous trading day. This is the second consecutive trading day of contraction. In the Shanghai and Shenzhen markets, 606 stocks rose, 4,922 fell, 49 traded flat, 44 rose or stopped, and 28 fell to a halt, accounting for about 10% of the rising stocks.
In terms of sectors, joint stock banks, agricultural commercial banks, urban commercial banks, shipping ports, general retail, industrial metals, motors, and feed bucked the trend; aviation equipment, semiconductors, software development, military electronics, chemicals and pharmaceuticals, and IT services registered the highest declines.
driving factors
Overnight, the Philadelphia Semiconductor Index closed up 2.82%, the biggest one-day increase in a month; on October 27, Samsung Electronics and SK Hynix rose more than 5% and 8% respectively in the Korean market.
The A-share semiconductor sector continued to decline after opening 1.46% higher in early trading, closing down 4.54%. Within the sector, Tiandeyu rose 8.37% (opening after hitting a 20% rise and stop), and Changxin Technology rose 0.80%.
The National Bureau of Statistics announced on October 27 that from January to September, industrial enterprises above the national scale achieved a total profit of 6033.74 billion yuan, an increase of 15.5% over the previous year, with a single month increase of 14.4% in September. According to data from the Ministry of Commerce, the wholesale and retail industry added value of 11.1 trillion yuan from January to September, up 4.4% year on year. The growth rate was 0.7 percentage points higher than in the first half of the year, accounting for 10.4% of GDP. On October 20, the National Development and Reform Commission said at a monthly press conference that the implementation plan for expanding domestic demand is being studied and formulated and will accelerate publication and implementation.
On October 26, the People's Bank of China announced the establishment of a non-bank large redemption facility (BNSF) in the bond market to support asset management non-bank institutions to borrow central bank notes from the central bank under specific circumstances and subscribe for qualified assets that have been subject to large redemption products after financing in the market.
Popular sector aspects
1. The banking sector rose 1.23%, and joint-stock banks rose 1.61% to rank first in Shenwan's second-tier industry. Agricultural and commercial banks rose 1.37%, urban commercial banks rose 1.13%, and large state-owned banks rose 0.82%. CCB rose 1.46% to 11.78 yuan, and Industrial and Commercial Bank rose 0.47% to 8.62 yuan, all of which reached record intraday highs; Shanghai Agricultural Commercial Bank rose 4.22% to 9.13 yuan to hit a record high during the year; Bank of Chongqing rose 3.72%, and Industrial Bank rose 2.25%. On the catalytic side, 21 A-share listed banks have disclosed their 2026 mid-term dividend plans, with total proposed dividends exceeding 260 billion yuan. Ping An Bank achieved operating income of 103.10 billion yuan in the first three quarters, an increase of 2.42% year on year, and net profit to mother of 39.186 billion yuan, an increase of 2.21% year on year.
2. [Retail and Tax Exemption] General retail sales rose 0.17%, the duty-free shop concept rose 0.81%, Shanghai 900 rose 10.00% to 13.31 yuan to break out of the 5 consecutive board. Shenzhen SEG rose and stopped, Maoye Commercial rose and stopped, and Gui Faxiang and Qingdao Foods both went 2 times in a row. The catalyst comes from the Ministry of Commerce's announcement on October 26 that the value added of the wholesale and retail industry for January-September was 11.1 trillion yuan, up 4.4% year on year. The growth rate was 0.7 percentage points higher than in the first half of the year, and the National Development and Reform Commission stated on October 20 that the National Development and Reform Commission's implementation plan to expand domestic demand is being studied and formulated and will be issued at an accelerated pace.
3. The [robot] humanoid robot concept closed down 2.78%, with multiple stocks rising and stopping continuously within the concept: Safutian raised and stopped, 4 consecutive boards. Duolun Technology opened and closed back in the intraday market, and was also a 4-connected board; Xiangyang Bearing rose 10.03% to break out of the 4-connected board, Guangyang Co., Ltd. went up 2 consecutive boards, Ocean Electric rose 0.52%, and the wheel motor concept rose 3.28%. Catalyst revealed by the Ministry of Commerce that sales of intelligent robots on key platforms increased 22.6% year-on-year in the first three quarters; at the same time, Duolun Technology announced on the evening of October 26 that the company was not involved in R&D or production of the core body of humanoid robots, and that the robot business accounted for a very small share of revenue and profit.
Adjust the section
Aviation equipment fell 5.13%, software development fell 4.57%, semiconductors fell 4.54%, military electronics fell 4.48%, and rubber fell 4.37%. Chemical pharmaceuticals fell 4.09%, IT services fell 3.99%, biological products fell 3.85%, and computer equipment fell 3.64%.
In terms of individual stocks, Lingkang Pharmaceutical, Wanze Shares, and Yidao Information fell to a standstill. Offshore Protein fell 12.40%, Xingchen Technology fell 14.56%, and Shifang Communications fell 12.64%. The above sectors have continued to adjust since late September. Semiconductors have accumulated a cumulative decline of 28.06% over the past 20 trading days, and military electronics have fallen 17.75%. The decline continued to be the highest on the same day.