A share midday review | The ChiNext Index fell by 0.52%. Bank stocks continued to be strong, with CCB and ICBC hitting new highs.

On November 20th, in the morning session, the indexes collectively rose, but then opened high and fell low, with the ChiNext Index turning green first. By the close, the Shanghai Composite Index rose by 0.38%, the Shenzhen Component Index fell by 0.05%, and the ChiNext Index fell by 0.52%. On the market, the lithium mining concept once again strengthened, with salt lake lithium extraction, energy metals, etc. pushing higher. BGT Group Co., Ltd. rose by the limit, Chengxin Lithium Group, Fulin Precision, Ganfeng Lithium Group followed closely. The major financial stocks were strong, with brokerage firms, banks, and insurance companies all showing eye-catching gains. The brokerage sector saw a collective rise, with First Securities, Northeast Securities, China Galaxy Securities, and China Securities Co., Ltd. all rising significantly. The banking sector continued to be strong, with Bank of China, Industrial and Commercial Bank of China hitting historical highs, and Postal Savings Bank of China, China Everbright Bank, and China Construction Bank Corporation also seeing significant gains. The real estate sector saw some abnormal movements, with 5i5j Holding Group hitting the limit up, and Shenzhen Special Economic Zone Real Estate & Properties, and China Vanke Co., Ltd. also pushing higher. The Hainan sector saw a short-term surge, with Hainan Haiyao hitting the limit up for 3 days. The light module, PCB, and Nvidia concepts opened high and then fell low, with companies like Shenzhen Dawei Innovation Technology and Guangdong Guanghua Sci-Tech hitting the limit up. In terms of individual stocks, Cowealth Medical China hit the limit up again after resuming trading today, recording 13 limit up sessions in the last 15 days, with a cumulative increase of over 290%. On the downside, the tourism and hotel, prefabricated meals, dairy, and other major consumer concepts continued to weaken. AI e-commerce, film and television media, education, and other AI application concepts fell again. Chip stocks oscillated lower, with Winnovation Culturaltainment Development falling by nearly 8%. Most military stocks drifted lower, pharmaceutical stocks performed poorly, and sectors such as coal, oilfield services, power grid equipment, and photovoltaics were relatively weak. Looking ahead, Huatai stated that considering the earnings elasticity of A-shares, policy direction, and overseas implications, the market's breakthrough momentum may still need to accumulate. In terms of allocation, there is still room for short-term performance in the logic of supplementary increase in low-level sectors. Hot sectors: 1. Lithium mining stocks show strength again Lithium mining stocks strengthened again, with BGT Group Co., Ltd. hitting the limit up, and Chengxin Lithium Group, JiangSu JiuWu Hi-Tech, Fulin Precision, Ganfeng Lithium Group following suit. Comment: Lithium carbonate futures prices have broken through 100,000 yuan. The rise in lithium battery materials prices continues to spread. Recently, the "long-term contract" and "lock-in orders" in the lithium battery industry chain have continued. The chairman of Ganfeng Lithium Group recently stated that lithium carbonate prices are expected to exceed 150,000 or even 200,000 yuan per ton by 2026. Da... (The rest of the translation was truncated due to exceeding the character limit. If you would like the full translation, please let me know.)