The Zhitong Finance App learned that on October 29, the three major A-share indices collectively opened lower and then weakened unilaterally. The Shanghai Index had not turned popular since opening and closed at its lowest point in early trading. The market showed a pattern of “general decline in indices, rotation of weak themes, and a contrarian trend in the direction of weight and high dividends.” By the midday close, the Shanghai Index fell 0.93% to 3647.12 points, the Shenzhen Index fell 2.55%, the GEM Index fell 3.63%; Science and Technology Innovation 50 fell 4.21%. 809 stocks rose and 4,701 stocks fell in the Shanghai and Shenzhen markets. The Shanghai and Shenzhen markets traded 986.7 billion yuan in half a day, down 26.9 billion yuan from the previous trading day. In terms of capital, in early trading, the main capital flowed into sectors such as defense and military, railways, highways, banks, etc., with a net outflow from the electronics, semiconductor, and communications sectors. Of these, the net outflow from the electronics sector exceeded 18 billion yuan.
Overview of the plate
On the upward side, the aerospace equipment sector rose 4.60%, leading the industry's increase. The banking, insurance, and wind power equipment sectors bucked the trend; on the downside, the components, semiconductors, motors, PCB concepts, and communication equipment sectors registered the highest declines. The satellite internet concept is partially active. China's satellite, Shanghai Engineering, Aerospace Morning Light, and Shanghai Port rose and fell, but the commercial space sector index rose and fell in the middle of the day. The food processing sector rose slightly by 0.12%. Qingdao Food went up and down for 4 consecutive days, while Babi Foods and Huifa Foods rose or stopped. Overall, capital was withdrawn from sectors such as electronics, semiconductors, communications, etc., and moved to themes of high dividend weight and policy benefits, such as aerospace, military, banking, and insurance. Individual stocks declined more and less, and the money-making effect was concentrated in a few directions.
Popular sections
1. The aerospace equipment sector registered the highest increase
The space equipment sector rose 4.60%, Electric Blue Sky rose more than 13%, Chinese satellites rose more than 6%, China's SATCOM, Aerospace Huanyu, and Zhongtian rockets rose more than 4%; and Starnet Yuda fell more than 5%.
Comment: In terms of capital, the Financial Services Association's monitoring data shows that China's satellite's main capital purchases exceeded 400 million yuan, ranking first in the two markets, while Western Materials and Junda shares received the highest net inflows of main capital.
2. Bank stocks bucked the trend and strengthened
The banking sector rose 1.45%, ICBC and CCB continued to reach record highs. The total market capitalization of the four major banks exceeded 10 trillion yuan, the Bank of Qingdao rose more than 7%, the Bank of Chengdu rose more than 6%, the Bank of Qilu rose more than 4%, and Ruifeng Bank rose more than 3%.
Comment: According to the news, up to now, 21 A-share listed banks have disclosed their 2026 mid-term dividend plans, with a total proposed dividend payment of more than 260 billion yuan. Among them, the six major banks in China now plan to allocate about 220,989 billion yuan, accounting for more than 80%. The six major banks increased their mid-term dividend ratio from 30% to 31%; in terms of the three quarterly reports, the Bank of Qingdao achieved operating income of 12.665 billion yuan, an increase of 15.00% year on year. Net profit to mother was 4.617 billion yuan, an increase of 15.67% year on year.
3. The wind power equipment sector bucked the trend
The wind power equipment sector rose 1.48%, Tianshun Wind Energy hit a rise and fall in the intraday period, up more than 8% in the afternoon, Haili Wind Power rose more than 8%, and Goldwind Technology rose more than 2%.
Comment: According to the news, the national electricity statistics for January-September released by the National Energy Administration on October 26 show that 60.66 million kilowatts of wind power were added to the grid from January to September, of which 7.4 million kilowatts were added in a single month in September, an increase of about 128% year on year. By the end of September, the total installed capacity of wind power in the country was 700 million kilowatts, an increase of 20.4% year on year. Furthermore, according to a report by the Financial Association on October 29, GWEC predicts that the world's new wind power installations will reach 178 gigawatts in 2026, with a compound annual growth rate of 5.2% from 2026 to 2030.
4. The AI comic concept reverses and revives
The film and television line sector rose 1.40%. Cultural Investment Holdings quickly rose and stopped after opening, then went back on the block after about 7 minutes. It recorded four boards in seven days. Hengdian Film and Television went up and down, and Huazhi Digital Media, Happy Blue Ocean, and Chinese movies rose more than 3%.
Comment: According to the news, Nie Chenxi, president of the China Online Audiovisual Association, said that the average user time for short dramas in China is 129 minutes per day, and the Hongguo skit app has 168 million daily active users, more than the daily activity of the four major long video platforms; a total of 430,000 short dramas were launched in the first 8 months of this year, 13 times that of last year, of which AI dramas account for more than 90%.
5. Collective setback in the direction of computing power hardware
The direction of computing power and hardware weakened sharply. The component sector fell 5.58%, the semiconductor sector fell 4.31%, the PCB concept fell 4.01%, and the communications equipment sector fell 4.00%; Tianfu Communications fell nearly 19%, and at one point near a 20% drop in the intraday period. Optical Bank Technology and Liante Technology fell more than 13%, Shijia Photonics fell more than 11%, Pengding Holdings and Oshcon fell to a standstill, and Shanghai Electric Power Co., Ltd. fell nearly 9%.
Comment: According to the news, Google's parent company Alphabet announced financial results for the third quarter after the market on October 28, local time. The capital expenditure for the quarter was 51.36 billion US dollars, up 114% year on year, lower than market expectations of 55.78 billion US dollars, and free cash flow was negative 9.07 billion US dollars, negative for the second consecutive quarter. On the same day, Tianfu Communications disclosed the third quarterly report, achieving operating income of 4.751 billion yuan, an increase of 21.25% year on year. Net profit for the third quarter was 2,083 billion yuan, up 42.18% year on year, of which revenue for the third quarter was 1,923 billion yuan The year-on-year increase was 31.50%, and the company's stock price fell sharply after the financial report was disclosed.