A-share trading volume reaches new high! The Shanghai Composite Index posted 17 consecutive positive days, AI applications and commercial aerospace exploded, Hong Kong stocks soared by 30%, and the Shanghai Stock Exchange rose by more than 14%

# Source: Wall Street Insights

By Dong Jing

On the trading front, the number of advancing stocks exceeded that of declining ones, with over 4,100 stocks closing higher across the Shanghai, Shenzhen and Beijing stock exchanges. The total turnover reached a new single-day record of RMB 3.64 trillion for A-shares, among which the turnover of the Shanghai and Shenzhen bourses hit RMB 3.6 trillion. This marked the second consecutive trading day with turnover surpassing RMB 3 trillion, representing an increase of RMB 478.7 billion from the previous trading day and breaking the historical turnover record set on October 8, 2024. In terms of sectors, AI applications, commercial aerospace, brain-computer interfaces, nuclear fusion, retail and semiconductors led the gains, while insurance, oil & gas and real estate sectors bucked the trend and declined.

**A-shares Rally Sharply with Turnover Hitting a New Record! The Shanghai Composite Index Extends Winning Streak to 17 Consecutive Days, Touching a New High in Over a Decade; AI Applications and Commercial Aerospace Trigger a Price Limit Surge; Nuclear Fusion and Retail Sectors Stay Active. Hong Kong stocks strengthened throughout the day, with the Hang Seng Tech Index rising 3%; tech and internet stocks generally gained, and Zhipu AI surged 60%. Treasury bonds rallied across the board; commodities advanced broadly; metal futures boomed, with Shanghai Silver jumping over 14%.**

### A-shares

As of the close, the **Shanghai Composite Index** rose 1.09%, the **Shenzhen Component Index** climbed 1.75%, and the **ChiNext Index** advanced 1.82%.

On the trading front, the number of advancing stocks exceeded that of declining ones, with over 4,100 stocks closing higher across the Shanghai, Shenzhen and Beijing stock exchanges. The total turnover reached a new single-day record of RMB 3.64 trillion for A-shares, among which the turnover of the Shanghai and Shenzhen bourses hit RMB 3.6 trillion. This marked the second consecutive trading day with turnover surpassing RMB 3 trillion, representing an increase of RMB 478.7 billion from the previous trading day and breaking the historical turnover record set on October 8, 2024.

In terms of sectors, AI applications, commercial aerospace, brain-computer interfaces, nuclear fusion, retail and semiconductors led the gains, while insurance, oil & gas and real estate sectors bucked the trend and declined. Specifically, the AI application sector staged a full-scale rally, with multiple stocks including BlueFocus Intelligent Communications Co., Ltd. and Hand Enterprise Solutions Co., Ltd. hitting the daily upward limit. The commercial aerospace sector maintained its strong momentum, with both China Satellite Communications Co., Ltd. and China Satellite Co., Ltd. hitting the daily upward limit and setting new highs. The brain-computer interface sector remained active, with Dolphin Technology Co., Ltd. and Yanshan Technology Co., Ltd. among others closing at the daily upward limit.

Notably, ETFs related to AI applications and commercial aerospace both surged, with nearly 20 ETFs hitting the daily upward limit. Among them, the Sci-Tech Innovation & Entrepreneurship AI ETF surged in late trading to touch the 20% upward limit. More than ten AI application-related ETFs covering software and media sectors, such as the Software Leading Stocks ETF, Software ETF Index and E Fund Software ETF, closed at the daily upward limit. In addition, multiple satellite-themed ETFs including the Satellite Industry ETF, GF Satellite ETF and Penghua Satellite ETF also closed at the daily upward limit.

### Bond Market

Most treasury bond futures closed higher. As of the close, the 30-year leading contract rose 0.30%, the 10-year leading contract gained 0.06%, the 5-year leading contract advanced 0.05%, and the 2-year leading contract closed flat.

### Commodities

Domestic commodity futures closed broadly higher. Shanghai Silver jumped over 14%, Container Shipping Europe Route surged over 11%, Lithium Carbonate hit the daily upward limit with a 9% gain, and Shanghai Tin closed at the daily upward limit with an 8% rise. Shanghai Nickel climbed over 5%, Platinum and Coking Coal advanced over 4%, while Palladium, Shanghai Copper, International Copper and Styrene rose over 3%. Crude Oil, Shanghai Gold and Shanghai Aluminium increased over 2%. On the downside, Polysilicon fell over 2%, and Peanut and Fuel Oil declined over 1%.

The turnover of A-shares exceeded RMB 3.5 trillion for the first time, breaking the previous record high of RMB 3.49 trillion set during the "September 24 Rally". Up to now, the turnover of the Shanghai Stock Exchange stood at RMB 1.3926 trillion, that of the Shenzhen Stock Exchange reached RMB 2.0687 trillion, and the turnover of the Beijing Stock Exchange 50 Index hit RMB 41.3 billion.

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