The Zhitong Finance App learned that on November 11, the three major A-share indices collectively opened lower and then fell. After a brief period of popularity, the Shanghai Index weakened again, and the Shenzhen Index also turned green for a while. Afterwards, the growth style picked up and the GEM index fluctuated higher. The market showed a pattern of “index differentiation, a rebound in computing power and hardware, and a correction in consumer weight.” By the midday close, the Shanghai index fell 0.24% to 365.95 points, the Shenzhen index rose 0.11% to 11253.67 points, and the GEM index rose 0.99% to 2519.14 points. More than 2,700 individual stocks rose and more than 2,600 only fell in the entire market. The Shanghai and Shenzhen markets traded 928.3 billion yuan in half a day, down 32 billion yuan from the previous trading day. In terms of capital, according to Tonghuashun data, the CPO concept received a net inflow of 10.992 billion yuan from the main capital, and the 5G concept received a net inflow of 10.764 billion yuan.
Overview of the plate
On the upward side, computing power hardware such as CPO and optical communication modules rebounded. The robotics, gas, and gaming sectors showed active performance, and components and printed circuit boards strengthened simultaneously; on the downside, the liquor, dairy, photovoltaic equipment, precious metals, and aviation and airport sectors registered the highest declines. Overall, US technology stocks weakened overnight, Nvidia fell 5.53% in a single day, and A-shares opened lower in early trading. Funds were withdrawn from consumer weights such as liquor, and the direction of computing power hardware and subject matter; the Shanghai Index was dragged down by consumer stocks to turn green slightly; GEM showed a growth style to turn red. The number of individual stocks rose and fell close to half, and the profit effect was concentrated on a few topics.
Popular sections
1. The CPO concept fluctuates and rebounds
The CPO concept fluctuated and rebounded. Cambridge Technology went back up and down, Qingshan Paper went up and down, Taichenguang rose more than 12%, and Xinyisheng, Yuanjie Technology, and Zhongji Xuchuang rose more than 8%.
Comment: According to the news, on the evening of November 10, Cambridge Technology released an investor relations activity record, revealing that as of the end of September 2026, the company's high-speed optical module business revenue had accounted for more than 50% of the revenue, with 800G products accounting for the vast majority of high-speed optical module shipments; by the beginning of September, the company had basically formed a monthly design capacity of about 1 million high-speed optical modules, and plans to expand the annual production capacity of high-speed optical module products by at least 10 million units based on existing production capacity by the end of 2027, and distribute the additional production capacity to Jiashan, Malaysia, Mexico and the United States. Meet customer expectations for 800G, 1.6T and NPO products. At the same time, the company said that there are currently sufficient orders in hand, and that it has placed early orders for a number of key materials to lock in production capacity.
2. The robot concept rebounds
The robot concept rebounded. Reddy Smart Drive rose and stopped 20%, Rifa Seiki, Hanwang Technology, and Ningbo Dongli rose and stopped, Fenglong and Guangyang shares had 3 consecutive boards, Fengyuzhu had 2 consecutive boards, and Dell shares and Jiangsu Beiren rose more than 10%.
Comment: According to the news, on November 10, the National Data Standardization Technical Committee held its second “Standards Week” event in 2026 in Xiamen, Fujian. At the meeting, a dedicated intelligent data standard drafting working group and a drafting working group for application standards in the four industries of meteorology, health, electricity, and business were formally established. According to data disclosed at the same time, China's total computing power reached 3.1 million PFLOPS, ranking second in the world. Furthermore, according to a report by the Shanghai Securities News, JD data shows that as of 18 o'clock on October 30, sales of intelligent humanoid robots increased 700% year-on-year in the first half of Double 11.
3. The gas sector is picking up in the intraday
The gas sector rallied in the intraday period, with Shengtong Energy and Dongfang Huanyu rising and stopping. Dongfang Huanyu recorded 3 consecutive accounts. Shengli shares rose more than 8%, Fuyuan Energy rose more than 5%, and water and gas followed suit.
Comment: According to the news, according to a report by the Financial Federation, the meteorological department predicts that due to the strong El Niño incident, the overall temperature in our country is expected to be high this winter, but the frequency of cold tides, high fluctuations in temperature and temperature, and extreme weather may be frequent, which will present challenges to energy security; the peak daily supply capacity of natural gas during the winter heating season exceeds 1.75 billion cubic meters, which is nearly 70 million cubic meters higher than the peak gas consumption in the previous heating season.
4. The liquor sector fluctuated and declined
The liquor sector fluctuated and declined. The sector index fell by 3.04%, Huangtai Liquor fell more than 5%, Jinhui Liquor, Jinhui Liquor fell by more than 4%, Shanxi Fenjiu and Luzhou Laojiao fell by more than 3%, and Wuliangye and Yanghe shares also fell.
Comment: According to the news, according to the November 11 data from Sina Finance's “Liquor Price Index”, the average retail price of the 12 major single product terminals included in the statistics increased by 3 to 8 and 1 flat, and the number of falling varieties clearly dominated the overall price market. Among them, the average retail price of Flying Moutai fell 3 yuan to 1,770 yuan, falling for the second day in a row. Gujing Gonggu fell 207 yuan to 510 yuan, and Yanghe Dream Blue M6 + fell 7 yuan to 580 yuan. Furthermore, Kweichow Moutai held a three-quarter performance briefing on November 10. Company director Wang Li (acting general manager) said that the liquor industry is still undergoing deep adjustments, and there has been no fundamental change in the trend of weak consumer demand and declining consumption scenarios.