A-share closing review | Stock index continues to rebound! The three major indexes collectively closed in the red, and the AI application limit up trend.

Today, the market continued its rebound, and the three major indexes all closed higher, with apparent market enthusiasm returning. The sectors of chemical industry, Siasun Robot&Automation, and AI applications were active in turns. On the market, AI applications surged, with stocks like Beijing Yuanlong Yato Culture Dissemination hitting limit up; the phosphorus chemical industry showed strong growth, with stocks like Henan Qingshuiyuan Technology hitting limit up; the Siasun Robot&Automation concept remained active, with stocks like Aishida Co., Ltd. hitting two consecutive highs; popular stocks were active again, with the leading stock Hytera Communications Corporation hitting two consecutive highs; stocks with esoteric names saw a resurgence, with companies in the Eastern culture series flourishing, Solareast Holdings hitting the daily limit, and stocks like Hengxin Shambala Culture and Wuxi Commercial Mansion Grand Orient hitting limit up; financial stocks such as banks and insurance continued to weaken. The market saw a slight increase in volume, with over 4500 stocks rising in both markets. Specifically, AI applications surged, with stocks like Beijing Yuanlong Yato Culture Dissemination hitting limit up. Open Source Securities pointed out that the continuous improvement of large-scale model inference, search, video generation, and other multimodal capabilities at home and abroad may continue to help increase the user base and commercial space of AI applications, prompting further layout in AI applications. The phosphorus chemical industry showed strong growth, with stocks like Henan Qingshuiyuan Technology hitting limit up. According to the latest data from the Phosphorus Chemical Industry Association, the Chinese phosphorus chemical market continued to grow steadily in the first three quarters of 2024, driven by environmental policies that are guiding the industry towards a greener and more efficient direction. By the end of September, the production and prices of major phosphorus chemical products had both increased. The companies in the Eastern culture series flourished, with stocks like Hengxin Shambala Culture and Wuxi Commercial Mansion Grand Orient hitting limit up. Professionals pointed out that there are risks in purely speculating on stocks based on their names, and nonsensical speculation without performance support or investment logic. Ordinary investors need to participate cautiously. In terms of individual stocks, 4572 stocks rose in both markets, 713 fell, and 83 remained unchanged. There were 177 limit-up stocks in both markets, with 6 limit-down stocks. By the close, the Shanghai Composite Index rose 0.66% to 3367.99 points, with a turnover of 627.9 billion yuan; the Shenzhen Component Index rose 0.78% to 10827.19 points, with a turnover of 974.9 billion yuan. The ChiNext Index rose 0.50% to 2267.85 points. Capital Flow Large funds focused on acquiring agricultural chemical products, communication services, and chemical pharmaceuticals, with the top stocks in terms of net inflow being Sichuan Development Lomon, Eastone Century Technology, and Grinm Advanced Materials. Top News Review 1. Han Wenxiu, deputy director of the Central Finance Bureau: Accelerate the improvement of the policy environment for "desire to consume", "dare to consume", and "able to consume" Han Wenxiu, deputy director of the Central Finance Bureau responsible for daily work, wrote in the Study Times that accelerating the cultivation of a complete domestic demand system is essential. On the one hand, enhancing the foundational role of consumption in economic growth, accelerating the improvement of the policy environment for "desire to consume", "dare to consume", and "able to consume", standardizing the reduction of restrictive measures on consumption, and relaxing access restrictions in the service consumption areas where market competition can enhance supply quality. Reasonable increase in public consumption, diversification of the supply of basic public services for all. On the other hand, better play the key role of investment, establish a long-term mechanism for government investment support for foundational, public welfare, and long-term major project construction, improve mechanisms to stimulate the vitality of social capital investment and promote investment landing, guide social capital to participate in major projects and fill the areas of deficiencies. Coordinating "hard construction" and "soft construction", promote the high-quality advancement of "two heavy" project construction. 2. Sichuan: Nearly 200 billion yuan of credit granted to real estate projects on the "white list", loans exceed 160 billion yuan The Sichuan Financial Supervision Bureau held a press conference on November 20, stating that as of November 17, 322 new projects had been added to the "white list", with nearly 200 billion yuan of credit granted to 650 projects through the "white list", and loans exceeding 160 billion yuan, with more than 50% going to private enterprises, benefiting over 600,000 homebuyers. 3. Notice: The State Council Policy Briefing will be held on November 22 to introduce relevant policies and measures to promote stable growth in foreign trade The State Council Information Office will hold a policy briefing at 10 am on November 22, 2024 (Friday) to introduce policies and measures to promote stable growth in foreign trade by Wang Shouwen, Representative and Deputy Minister of the Ministry of Commerce for International Trade Negotiations, along with officials from the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People's Bank of China, and the General Administration of Customs, and to answer questions from journalists. Market Outlook 1. EB SECURITIES: Market likely to focus on structural trends EB SECURITIES stated that looking ahead, after the rebound in the market and the noticeable repair of market sentiment, the market is expected to gradually stabilize and recover; considering the shrinking turnover, the market is likely to focus on structural trends. 2. Huatai: After recent adjustments, overall risks have eased Huatai pointed out that since reaching 3509 points on November 8, the Shanghai Composite has shown a fluctuating downward trend. At present, the short-term decline is still a benign adjustment, reflecting the cooling of speculative funds and external disturbances to the recent market risk preference recovery. After recent adjustments, overall risks have eased, and there is no need to worry too much about the short-term adjustment in the market. Continue to observe how strong the support near the 30-day moving average is for the Shanghai Composite. As the year-end approaches, the market will focus on.Important meetings such as the Central Economic Work Conference. In addition, the policy game period has not yet ended, and the pace of monetary policy cuts and interest rate cuts is also being watched. By the end of the year, the market expects the possibility of another round of reserve requirement ratio cuts.Guorong Securities: Market continues to have significant upside potential, small-cap stocks and dividend themes currently have advantages Guorong Securities pointed out that the market may continue to fluctuate in the short term, with a focus on following the structural market trends of hot topics and active structural opportunities. In the long term, the market has significant upside potential, with small-cap stocks and dividend themes currently having advantages, and attention should be paid to structural opportunities in the growth direction. This article is reprinted from "Tencent Stock Picks", GMTEight Editor: Liu Jiayin.