A-share market closing review: Trading continued to shrink! ChiNext Index rose and fell, closing down 0.7%. Zhejiang Fenglong Electric (002931.SZ) had its 14th consecutive trading limit.

On January 19, the three major indexes showed mixed movements, with the Shanghai Composite Index showing a stronger trend while the Growth Enterprise Board Index rose and then fell back. The trading volume was 2.71 trillion, a decrease of 317.9 billion from the previous trading day. By the close, the Shanghai Composite Index rose by 0.29%, the Shenzhen Component Index rose by 0.09%, and the Growth Enterprise Board Index fell by 0.70%. Guotai Haitong believes that recent large gains and investor discussions have led to a return to rationality in themed speculation in commercial aerospace/GEO sectors. Trading regulation helps guide the market towards stability and development. The pace of thematic rotation is accelerating, showing optimism for low-tech sectors with strong demand support and intensive industrial catalysis, such as domestic computing power, new energy grids, Siasun Robot & Automation, and domestic consumption. In terms of market performance, stocks in the power grid equipment sector surged, with Qingdao Hanhe Cable, Henan Senyuan Electric, and Baoding Tianwei Baobian Electric among the stocks that exceeded the daily limit. The precious metal sector strengthened, with Zhaojin International Gold and Sichuan Gold also hitting the daily limit. The tourism sector warmed up, with Anhui Jiuhuashan Tourism Development also hitting the daily limit. In addition, sectors such as Hainan, military industry, chemical industry, oil and gas, and Siasun Robot & Automation also showed some performance. On the decline side, AI application directions fell, with internet, cultural media, and AI medical sectors leading the decline. Individual stocks such as Guangzhou Haige Communications Group Incorporated and Sunwave Communications also experienced declines. Looking ahead, CITIC SEC believes that the adjustment of margin trading will not affect the overall upward trend of the market, but it will affect the market structure. Popular sectors: 1. Power Grid Equipment Stocks Surge Again 2. Precious Metals Concept Strong 3. Tourism Sector Rises Institutional views: 1. CITIC SEC: Margin trading adjustments do not affect the overall market trend 2. Guotai Haitong: Thematic rotation accelerates, focusing on domestic semiconductors and power 3. Orient: Expect Shanghai Composite Index to consolidate in the 4000-4200 range before the Spring Festival This article is a reprint from "Tencent Self-selecting Stocks", GMT8 Editor: Li Fo.