A-share Opening Report | Four Major Indexes Open Higher Together, Communication and Electronics Lead the Gains

Opening Data On September 7, the Shanghai Composite Index opened up 0.32% at 3,942.51 points, the Shenzhen Component Index opened up 0.65% at 13,605.02 points, the ChiNext Index opened up 1.21% at 3,326.42 points, and the STAR Market 50 opened up 1.22% at 1,596.58 points. As of 9:36 AM, a total of 2,529 companies rose in the two markets and the Beijing Stock Exchange, while 2,730 declined, with 299 remaining flat. Top gainers included: agriculture, fisheries, components, copper-clad laminates, communication equipment, and Shenzhen Agricultural Power Group processing; top losers included: non-ferrous metals, computers, coal, steel, defense and military industry, and non-banking financials. Market Overview Today, major A-share indices opened higher across the board, with the ChiNext Index and STAR Market 50 leading with gains of over 1%, while the Shanghai Composite Index opened up 0.32% at 3,942.51 points. In the previous trading day (September 4), all three major indices retreated after reaching highs, with the Shanghai Composite closing at 3,930.12 points; today's higher open shows signs of recovery. Sector-wise, technology sectors such as communication, electronics, and machinery equipment led the gains, driven by a 3.37% overnight rise in the Philadelphia Semiconductor Index and strengths in storage and chip equipment; the agricultural chain was active, with gains in agriculture, fisheries, and Shenzhen Agricultural Power Group processing. However, many individual stocks fell more than they rose, with approximately 45% of the market advancing, 24 stocks hitting the daily limit up and 2 stocks limit down; notable weakness was seen in cyclical and financial sectors including non-ferrous metals, computers, coal, steel, and non-banking financials. Overnight News Snapshot U.S. August non-farm payrolls exceeded expectations, raising interest rate hike expectations: The U.S. Bureau of Labor Statistics announced on September 4 that 162,000 jobs were added in August, far exceeding the market expectation of about 55,000, and the unemployment rate remained at 4.1%. CME interest rate futures showed that market expectations for a 25 basis point rate hike by the Federal Reserve in September once rose to nearly 60%, with the 10-year U.S. Treasury yield briefly hitting 4.79%. Under pressure from interest rate hike expectations, all three major U.S. stock indices closed lower, with the Dow dropping 0.51%, the S&P 500 down 0.38%, and the Nasdaq down 0.29%. Google fell 1.11%, and Apple dropped 2.51%; the Philadelphia Semiconductor Index, however, rose against the trend by 3.37%, boosted by strength in storage and chip equipment. Eight central financial enterprises plan to increase capital by 360 billion yuan: On September 6, eight central financial enterprises, including the Industrial and Commercial Bank of China and Agricultural Bank of China, announced plans to increase capital by a total of 360 billion yuan to supplement their core tier one capital. ICBC and ABC plan to raise no more than 100 billion yuan and 160 billion yuan, respectively, from the Ministry of Finance, China National Tobacco Corporation, and relevant subsidiaries through the issuance of A-shares. The central bank announced a 500 billion yuan reverse repurchase operation on September 7, with a term of three months. Intensive policies for computing power and AI industry implemented: The Cyberspace Administration of China and six other departments issued the "Implementation Plan for Promoting Collaborative Transformation Development of Digitalization and Greenization (2026-2030)," proposing to explore an 800V high-voltage direct current power supply architecture for computing power facilities; the Ministry of Industry and Information Technology issued the "Small and Medium-sized Enterprises Entrepreneurship Support Plan for Artificial Intelligence (2026-2028)." According to Caijing News, in response to the escalating risks of overcapacity in the energy storage industry, relevant departments are comprehensively assessing existing and planned capacities. Market Trend Analysis Today, the four major indices opened higher collectively, with the ChiNext Index and STAR Market 50 up over 1%. Technology sectors such as communication, electronics, and machinery equipment led the gains, driven by a 3.37% increase in the Philadelphia Semiconductor Index overnight; however, individual stocks showed more declines than gains, with about 45% advancing. Non-ferrous metals, computers, coal, and non-banking financials turned negative, showing clear divergence despite the higher open. From the external perspective, the U.S. added 162,000 jobs in August, exceeding expectations and leading to rising interest rate hike expectations, with the 10-year U.S. Treasury yield operating at a high level, potentially suppressing overvalued growth. Domestically, the eight central financial enterprises have a combined capital increase of 360 billion yuan, and the central bank is conducting a 500 billion yuan reverse repurchase operation, providing support in financial and liquidity aspects. Some institutions believe that in the short term, attention can be focused on sectors like AI computing power, self-controllable technologies, non-ferrous precious metals, and innovative pharmaceuticals, while maintaining a defensive bottom line with dividend yields, awaiting the release of U.S. CPI and the FOMC outcomes; a structural market trend may continue.