A-share market closing review: Indexes rise and then fall, ChiNext index hits new intraday high again. How far can the technology sector rally with the market?

On June 3rd, the three major A-share indexes fell sharply in the afternoon. By the close of trading, the Shanghai Composite Index rose by 0.22%, the Shenzhen Component Index rose by 0.73%, and the ChiNext Index rose by 1.65%. Most stocks in the market fell more than they rose, with more than 3700 stocks falling. The total turnover for the day was 3.1 trillion yuan, an increase of 347.5 billion yuan from the previous day. In the market, the market is once again focusing on the "light". The CPO concept continued to be strong, with Yuanjie Semiconductor Technology rising by more than 15% to a historical high, and Fujian Qingshan Paper Industry hitting the limit up. The fiber optic concept remained strong, with Hengtong Optic-Electric rising for the second consecutive day, and Yangtze Optical Fibre And Cable Joint Stock hitting the limit up. The chip industry chain was active, with Guangdong Huate Gas Co., Ltd. hitting the limit up, and stocks like Ningbo Kangqiang Electronics and Hangzhou Lion Microelectronics also hitting the limit up. In the afternoon, the semiconductor equipment sector saw unusual movement, with companies like Kingsemi Co., Ltd. and ACM Research rising by over 10%. Power stocks rose in the afternoon, with stocks like Guangxi Energy, Beijing Jingneng Power, and Henan Yuneng Holdings hitting the limit up. On the downside, sectors such as education, film and television media, and short-form game AI applications continued to adjust. The AI PC concept saw a partial pullback, while the power grid equipment concept continued to adjust. Healthcare stocks collectively declined, and sectors like real estate, retail, and airport transportation performed poorly. In terms of spotlight stocks, the new "stock king" Semight Instruments rose by over 10% at one point, breaking through the 2000 yuan mark and reaching a high of 2071.00 yuan per share during the day, becoming the fourth stock in A-share history to surpass 2000 yuan. In addition, Zhongji Innolight rose by over 10% during trading, with a price of 1315.51 yuan, surpassing Kweichow Moutai, which temporarily dropped to fifth place in A-share stock prices. Foxconn Industrial Internet rose by nearly 6% during trading, with a market value exceeding 1.68 trillion yuan, surpassing Kweichow Moutai's market value of 1.6 trillion yuan. Analysts believe that this dual surpassing of "stock price and market value" is not just a simple rotation of sectors, but a "symphony of era-defining energy transition" in the Chinese capital market. In the past, the market benchmark was centered around "Moutai"; today, with the AI inference era evolving from simple computing power accumulation to the bottleneck of "network connection and network architecture", the "AI water sellers" represented by Zhongji Innolight and Foxconn Industrial Internet have truly become the hardcore core assets leading the era. Looking ahead, China Securities Co.,Ltd. believes that the short-term market is entering a crucial point for fund transfer, where the emotional interpretation of high wind-biased funds and the game of positions has reached its peak saturation. From the perspective of broad-based ETF shareholding, the selling pressure is expected to gradually decrease, and the weak micro liquidity structure suggests that the index may experience technical adjustments and consolidation due to insufficient support, but this process of "clearing floating capital -> new fund transfer" could actually optimize the fund structure and solidify the foundation for a rise. Therefore, the index may replicate an "M-shaped" oscillation upward path in the future.