The Zhitong Finance App learned that on November 12, the three major A-share indices fluctuated and rose after collectively opening low, then rushing higher and falling during the intraday period. The market showed a differentiated pattern of “technological growth leading the rise, high themes declining, and individual stocks falling more and less”. By the midday close, the Shanghai Index had risen 0.20% to 3688.05 points, the Shenzhen Index had risen 0.06%, the GEM index had risen 0.06%; the Science and Technology Innovation 50 Index had risen 2.35%. 2,239 stocks rose and 2,825 stocks fell in the Shanghai and Shenzhen markets. The Shanghai and Shenzhen markets traded 1221.5 billion yuan in half a day, an increase of 293.1 billion yuan over the previous trading day. In terms of capital, the main capital in early trading flowed into the semiconductor, electronics, electronic chemicals and other sectors, with a net outflow from non-ferrous metals, the electronics industry, and transportation equipment. Among them, the semiconductor sector had a net inflow of over 7.8 billion yuan.
Overview of the plate
On the upward side, the aquaculture, bathroom appliances, and rare earth sectors had the highest gains, while the semiconductor equipment, integrated circuit manufacturing, gas, and medical services sectors strengthened simultaneously; on the downside, the video media, other digital media, and precious metals sectors had the highest declines, while the film and television, gaming, and automotive sectors weakened. There is also some activity at the individual stock level. Fenglong shares have 4 consecutive boards, Xiangyang Bearing 3 consecutive boards, Guangbai shares, and Ningbo Zhongbai have both risen and stopped, but the robot sector index still closed down 1.89%, and individual stocks and sectors have not kept pace. Overall, the semiconductor and storage sector of the US stock market strengthened overnight, driving the technological growth steering wheel to an initial rise. The GEM index rose by nearly 2% in the intraday period, and the Science and Technology Innovation 50 Index once rose by nearly 5% in the intraday period, but the weight and subject matter did not keep pace. The increase narrowed markedly in the morning, and individual stocks declined more or less. The direction of topics such as AI comics, which were active in the early stages, declined, capital was concentrated in the semiconductor industry chain, and the non-ferrous metals sector experienced a net outflow.
Popular sections
1. The semiconductor industry chain is strengthening collectively
The semiconductor industry chain has collectively strengthened. Tianpu shares have been strengthened for 3 consecutive days, Senke Communications rose more than 12%, and Suiyuan Technology rose more than 12% and hit a new high since listing. The Cambrian period rose nearly 10%, the intraday market once recovered the 1,000 yuan mark and then fell below 1,000 yuan. Tongfu Microelectronics opened after hitting a rise and stop, and rose more than 6% in the middle of the day.
Comment: According to the news, the semiconductor and storage sectors of the US stock market strengthened overnight. The Philadelphia Semiconductor Index rose 5.66%, SanDisk rose more than 13%, Micron Technology rose 11%, SK Hynix rose more than 9%, and Western Digital rose more than 8%; AI cloud service provider CoreWeave's third-quarter revenue was US$3.661 billion, up 168% year on year. The backlog of active contracts reached US$132.5 billion, and the stock price surged 24.71%, driving sentiment in the AI hardware industry chain to pick up. In addition, Alibaba announced on the evening of November 10 that it plans to split its wholly-owned subsidiary Pingtou (Shanghai) Technology Co., Ltd. to independently list on the main board of the Hong Kong Stock Exchange. The announcement revealed that the cumulative shipment volume of Pingtou Ge Zhenwu series AI chips reached 560,000 pieces as of April 2026, and has served more than 650 corporate customers.
2. The gas sector rebounds
The gas sector opened low and moved higher. Dongfang Huanyu had 4 consecutive markets, Hongtong Gas rose and stopped, Shengli shares rose more than 4%, and Xinjiang Torch and Guoxin Renewable Energy followed suit.
Comment: According to the news, gas prices for residents in many places have recently been adjusted one after another. Among them, the Wuhan Municipal Development and Reform Commission issued the “Wuhan Residential Pipeline Natural Gas Price Adjustment Plan” (Wufa Price Change Fee (2026) No. 290) on November 5. Starting November 15, the first grade residential gas price was raised from 2.53 yuan/cubic meter to 2.91 yuan/m3, and the upper limit of annual gas consumption in the second tier was raised from 600 cubic meters to 1,100 cubic meters; the plan also establishes a linkage mechanism for upstream and downstream prices of pipeline gas terminals.
3. The concept of medical services and CRO is rising
The medical service sector showed active performance. Aoyang Health, Berry Gene, and Shuangcheng Pharmaceutical rose and stopped, Wanbang Pharmaceutical rose more than 8%, and Nanmo Biotech and Chengdu followed suit.
Comment: According to the news, AI pharmaceuticals have recently been catalyzed by overseas industry statements. Anthropic CEO Dario Amodei said in the company's IPO roadshow video that cancer, Alzheimer's disease, heart disease, and mental illness may be a thing of the past in less than 10 years; he previously stated that AI can help find treatments for most cancers and prevent Alzheimer's disease in the future.
4. The collective decline in the precious metals sector
The precious metals sector continued to decline. Shanjin International fell more than 6%, Chifeng Gold fell more than 5%, Western Gold, Shandong Gold, and CICC Gold fell more than 4%, and Hunan Gold followed suit.
Comment: According to the news, overnight spot gold fell 1.12% to 3987.69 US dollars/ounce, falling below the $4,000 mark. The US CPI rose 0.4% month-on-month in October, 0.3% higher than market expectations. Combined with hawkish statements from Federal Reserve officials, market expectations for the December rate hike heated up. The US dollar index rose 0.66% to 102.908, the highest since April 2025, and the price of gold fell under pressure.