A shares midday report | ChiNext Index fell by 1.49% AI application end strengthened again Chip stocks continued to adjust.

On November 15th, the A-share market opened lower, then rebounded, before falling again. By the close, the Shanghai Composite Index fell by 0.35%, the Shenzhen Component Index fell by 0.85%, and the ChiNext Index fell by 1.49%. In terms of market performance, AI application sectors strengthened once again, with concepts like Sora, intelligent AI, cultural media, gaming, and education leading the gains. Metaverse, data elements, and computing power sectors also saw simultaneous increases. Consumer electronics concepts rose, with autonomous driving concepts active. Huawei, tourism, and other sectors led the gains, while semiconductor chip stocks continued to decline, with photovoltaic, real estate, insurance, and metal sectors leading the losses. In terms of major funding, funds favored industries like advertising and marketing, film and television, and publishing, while exiting industries like semiconductors, securities, and batteries. Institutional Views: Looking ahead, Huatai believes that in the current policy window, investors should not be overly concerned about short-term fluctuations. Market adjustments may present buying or switching opportunities. CICC: Short-term funding impact cannot be ignored CICC points out that the A-share market is currently in a relatively active state historically, with new investors and financing as the main incremental funds. With existing institutional investors not significantly increasing their positions during the recent rise, the market may have good support from a funding perspective, supporting a volatile uptrend. However, considering the significant accumulated gains in the previous period, with major indices nearing previous highs and trading zones, as well as external pressures, short-term profit-taking and volatility could occur due to fund concentration, which is a normal occurrence during consolidation periods in history, without changing the mid-term trend. Looking ahead, after policy expectations are reversed, attention should be paid to the transmission of policy implementation on fundamental improvements. EB SECURITIES: Funds may switch between high and low, finding new leading sectors at relatively low levels EB SECURITIES stated that on Thursday, some funds took profits, causing high and strong stocks to fall, leading to a market-wide adjustment. Looking ahead, after another round of market-wide declines, market sentiment has cooled, especially among high-priced stocks that have seen significant sell-off; the market may need time to digest the sell-off of high-priced stocks; and funds may switch between high and low, finding new leading sectors at relatively low levels. Huatai: If trading volume fails to recover, the short-term correction period may be extended Huatai believes that looking at the A-share market on Thursday, market sentiment was weak, reflected in shrinking trading volume with turnover falling below 2 trillion yuan. Market speculation on hot sectors also cooled. The market showed a downward trend in the afternoon, with little resistance from the bulls, leading the Shanghai Composite Index below 3400 points and below the 10-day moving average. Currently, trading volume remains key, and if trading volume fails to recover later, the short-term correction period may be extended. Hot Sectors: 1. AI application sectors strengthened again Sectors such as cultural media, education, and gaming in the AI application field strengthened again, with companies like Sinodata Co., Ltd., Qingdao Kutesmart Co.,Ltd. and Cubic Digital Technology surging. Analysis: On the news front, OpenAI is preparing to release an independent task-executing AI intelligent agent, while ByteDream will launch a video creation model, PixeLDance, before Sora's release. In the recent period, the continuous improvement of large models in terms of inference, search, video creation, and other multimodal capabilities domestically and internationally may continue to support the growth of AI application users and open up commercial space, further consolidating the layout of AI applications. 2. Consumer electronics concepts rose Consumer electronics stocks showed volatile gains, with companies like Edifier Technology, Risuntek Inc, and Dongguan Aohai Technology hitting the daily limit up. Analysis: CICC stated that intelligentization is the main direction of industry innovation, suggesting attention on hardware upgrade opportunities brought by AI-assisted mobile phones, AR/VR, PC, and the demand for hardware upgrade stimulated by AI + hardware. 3. Autonomous driving concept rose The autonomous driving concept showed a shake-up, with some stocks hitting the daily limit up, such as Shanghai Jin Jiang Online Network Service and Zhengzhou Tiamaes Technology. Analysis: On the news front, two autonomous driving sanitation products under Wenyuan Zhihang have passed the testing phase and can operate on licensed public roads and paths. Guotai Junan research report noted that market risk appetite remains at a relatively high level, with adjustments expected in the market.AI-driven autonomous driving and high-risk preferences such as Siasun Robot&Automation still remain the main direction of the automotive sector.This article is reposted from "Tencent Select Stocks"; GMTEight Editor: Wang Qiujia.