A-share Market Opening Brief | All Three Major Indices Open Higher, Computing Power Hardware Sector Strengthens

Opening Data On September 18, the Shanghai Composite Index opened 0.42% higher at 3,891.96 points, the Shenzhen Component Index opened 1.15% higher at 13,563.74 points, and the ChiNext Index opened 1.61% higher at 3,351.56 points. The STAR 50 opened 1.76% higher at 1,634.63 points. As of 9:37, a total of 4,536 stocks in the Shanghai and Shenzhen markets rose, 820 fell, and 209 were flat. Top gainers: biologics, semiconductors, aerospace equipment, CPO concept, memory concept, etc.; top decliners: grain concept, coal, livestock farming, wind power equipment, etc., with declines all under 1.2%. Market Conditions The four major indices opened higher collectively and maintained high-level fluctuations. As of 9:36, the Shanghai Composite Index stood at 3,894.03 points, up 0.48%; the Shenzhen Component Index stood at 13,547.00 points, up 1.02%; the ChiNext Index stood at 3,346.85 points, up 1.47%; and the STAR 50 stood at 1,637.27 points, up 1.93%. Capital inflows led in computing power hardware sectors such as semiconductors and communication equipment, while the innovative drug chain, including biologics and CRO, strengthened in tandem; agricultural planting and coal sectors continued to adjust. As of 9:37, 16 stocks hit the daily limit up and 0 hit the daily limit down across the market, with advancers accounting for 81%. Overnight News at a Glance Overseas markets: The three major U.S. stock indices closed higher, with the Nasdaq up 1.69%, the S&P 500 up 1.14%, and the Dow up 0.61%. The Philadelphia Semiconductor Index rose 3.14%, with chip stocks leading gains. International oil prices retreated, while spot gold and silver rose 1.82% and 3.49%. CME interest rate futures showed the market pricing in about a 50% chance of another rate hike in October. Domestic macro: Ministry of Commerce spokesperson He Yadong said on September 17 that the Chinese and U.S. economic and trade teams are maintaining close communication on issues including arrangements for mutual tariff reductions of USD 30 billion, and progress will be released in due course. On the same day, the Ministry of Commerce expressed grave concern over the European Commission's draft public procurement law setting a "European priority" clause and urged the EU to amend the discriminatory provisions. Key industries: Huawei released the Ascend 960 super node on September 17, adopting near-package optics technology for the first time, with a single node supporting interconnection of up to 4,096 cards. It also said the Ascend 960 chip development progress exceeded expectations, with performance doubled, and that Ascend 960DT will be released ahead of schedule in Q1 2027. Nvidia CEO Jensen Huang said chip sales next year will be twice this year's. Trend Analysis On the day after the Fed's rate hike landed, overnight external risk appetite recovered, U.S. chip stocks led gains, and combined with Huawei's release of the Ascend 960 super node and Nvidia's statement on doubling chip sales, the computing power hardware sector became the driver of A-share opening gains. On the board, the indices opened with no small gains, with the STAR 50 and ChiNext Index showing stronger elasticity and increased volume; however, sectors that strengthened in the previous trading day, such as agriculture and wind power equipment, saw pullbacks, with hot spots rotating quickly and sustainability yet to be observed. Institutional consensus leans toward the view that the phased impact of this rate hike may have been gradually digested, external uncertainty is tending to converge, and room for market valuation repair may open up; however, index upside still requires volume confirmation, and the short term may maintain a volatile pattern, with structural opportunities potentially outperforming the overall market.