Stock A midday review | The Shanghai Composite Index once broke through 4100 points! Half-day trading volume reached 2 trillion yuan. Commercial space and AI applications are moving in a strong direction.

On January 9th, the A-share market opened high and then fell back, with the Shanghai Composite Index briefly breaking through 4100 points during the morning session, reaching a new high in over 10 years. By the midday closing, the Shanghai Composite Index rose by 0.30%, the Shenzhen Component Index rose by 0.57%, and the ChiNext Index increased by 0.10%. Of particular note is the half-day trading volume of 2.06 trillion yuan, significantly higher than the 296.3 billion yuan of the previous trading day. Huatai believes that in terms of liquidity, the market's trading volume has consistently remained above 2.5 trillion yuan since New Year's Day, and the new high trading volume shows that there is strong liquidity support in the market, with some funds willing to pay premium. Therefore, even if there is a subsequent market correction, the magnitude may be relatively limited, and the upward trend of the index remains unchanged. Looking ahead, Shenwan Hongyuan Group stated that the "two-phase bull market" theory remains unchanged: the 25-year bull market 1.0 (technology-based bull market) is currently temporarily at a high level, in a high-level consolidation phase, and it is necessary to pay attention to the possibility of triggering a "skeptical bull market level" adjustment. In the second half of 26, there will be the bull market 2.0, driven by fundamental cyclic improvement, new trends in the technology industry, increased migration of household assets to equities, and the increased visibility of China's influence. In terms of specific stocks, related to UBTECH ROBOTICS, Zhejiang Fenglong Electric surged with 11 consecutive trading limits, surpassing the 10 consecutive trading limits record of Swancor Advanced Materials Co., Ltd., known as the "King of Stocks in 2025." The surge in Zhejiang Fenglong Electric's stock price is related to its acquisition ties with the "first stock of humanoid Siasun Robot & Automation," UBTECH ROBOTICS. The company announced on January 8th that if the stock price continues to abnormally rise, they may apply for a trading halt for investigation. Hot sectors included the commercial aerospace sector, which continued to be active, with over 10 stocks hitting the trading limit. This sector led to a widespread strength in the defense industry sector. Additionally, AI applications remained active, with sectors like media, AI healthcare, and AI smart devices leading the way. Other sectors showing strength included computing power leasing and controlled nuclear fusion. On the other hand, sectors like photovoltaics, insurance, and airport transportation saw declines. Institutional viewpoints indicated that there is a high probability of the A-share market continuing its upward trend in January. They also suggested that in the short term, the index may control its pace, while in the long term, the upward trend of the index remains unchanged. Analysts also mentioned that the recent market gains were significant, and the index may experience some consolidation in the near future, but the overall market sentiment is positive. This article was originally published on "Tencent Select Stocks" and edited by Wang Qiujia.