Review: The Sci-Tech Innovation 50 Index surged more than 8%, with many stocks like SMIC reaching new highs.

The market hit a bottom and rebounded throughout the day, with the ChiNext Index rising by more than 4% and the Science and Technology Innovation Index surging by over 8%. Semiconductor chip stocks exploded across the board, with shares such as Zhaoxin Innovation, CEC Technology, and Shanghai Huajing all hitting their daily limit. SMIC, Muxi Shares, and Huahong Hongli all rose by more than 10% to reach new highs. The mining hardware stocks rallied, with shares like Shennan Circuit, Dongshan Precision, and Chongda Technology all hitting their daily limit. On the downside, lithium mining stocks continued to adjust, with Rongjie Shares hitting their limit for the second consecutive day. Most stocks fell more than they rose, with over 2900 stocks in Shanghai, Shenzhen and Hong Kong trading in the red, with a total turnover of 2.93 trillion yuan. As of the close, the Shanghai Composite Index rose by 1.65%, the Shenzhen Component Index rose by 3.07%, and the ChiNext Index rose by 4.49%.