A-share Midday Review | Shanghai Composite Index rises 0.46%, PCB sector strengthens, solar sector opens high but drifts lower

On November 9, the three major A-share indices opened collectively higher, surged in early trading before fluctuating lower, with gains gradually narrowing. The market presented a pattern of "indices closing slightly higher, individual stocks mixed, and hot spots rotating rapidly." As of the midday close, the Shanghai Composite Index rose 0.46% to 3,665.94 points, the Shenzhen Component Index rose 0.27%, and the ChiNext Index rose 0.56%. Across the entire market, 2,650 stocks rose and 2,707 stocks fell. Half-day turnover across the Shanghai, Shenzhen, and Beijing markets totaled RMB1.0181 billion, a decrease of RMB112.6 million from the previous trading day. On the capital flow side, the CPO concept and 5G concept received net main capital inflows of RMB8.096 billion and RMB7.848 billion, respectively. Market Overview On the trading board, on the upside, PCB, components, and other computing power hardware sectors led gains, while coal, commercial aerospace, and gas sectors showed strong performance; on the downside, photovoltaic equipment, energy metals, and pet food sectors weakened. Overall, the Philadelphia Semiconductor Index rose 4.21% last Friday, and A-share computing power hardware sectors rebounded in tandem today, with coal and other sectors also strengthening. However, after surging in early trading, index gains continued to narrow, with advancers and decliners roughly split evenly, as capital rotated rapidly among themes such as computing power hardware, commercial aerospace, and coal. Hot Sectors 1. PCB sector strengthens in volatile trading The PCB sector strengthened in volatile trading. Aoshikang Technology, Olympic Circuit Technology, Guangdong Goworld, and Suntak Technology hit the daily limit up. Victory Giant Technology rose over 9%, Shenzhen Kinwong Electronic rose over 9%, and Shengyi Technology rose over 2%. Commentary: On the news front, the Philadelphia Semiconductor Index rose 4.21% and the Nasdaq rose 1.09% last Friday, with AI supply chain stocks broadly rebounding. On the industry side, according to Securities Times, 40 listed PCB, materials, and equipment companies achieved combined operating revenue of RMB238.06 billion in the first three quarters of this year, up 46.78% year-on-year, and net profit of RMB35.33 billion, up 102.03% year-on-year; Sublime China Information data showed that in October, mainstream companies' electronic yarn G75 quotes rose RMB3,000/ton to RMB25,800-26,000/ton, and 7628 electronic cloth quotes rose RMB1.5/meter to RMB13-13.3/meter. In addition, Olympic Circuit Technology disclosed its 2026 second tranche repurchase plan, proposing to repurchase shares for RMB200 million to RMB300 million. 2. Commercial aerospace sector active The commercial aerospace sector was active. China Spacesat, Western Metal Materials, Fiberhome Telecommunication Technologies, Shanghai Shunho New Materials Technology, and Zhejiang Shengyang Science and Technology hit the daily limit up. Shenzhen Sunway Communication touched the 20% limit up intraday and rose over 15% at midday. Xi'An Xice Testing Technology touched the 20% limit up intraday and rose over 13% at midday. Shanghai Hugong Electric Group touched the limit up intraday and rose over 7% at midday. Commentary: On the news front, according to media reports including Wallstreetcn, at the 33rd Barron's Investment Conference held on November 6 local time, Musk said SpaceX is advancing toward a target of annualized revenue exceeding US$100 billion in December, with annualized recurring revenue expected to exceed US$500 billion in December next year; the first batch of Starlink computers co-designed with Nvidia is expected to begin launching in Q3 2027, scale to a considerable level in 2028, and reach a "very large scale" in 2029. 3. Coal sector opens higher and climbs The coal sector opened higher and climbed. Zhengzhou Coal Industry & Electric Power and Shanxi Antai Group hit the daily limit up. Henan Dayou Energy rose over 6%. Yunnan Coal & Energy touched the limit up intraday and rose over 6% at midday. China Coal Xinji Energy rose over 5%, and Shaanxi Heimao Coking rose over 5%. Commentary: On the news front, the National Bureau of Statistics announced on November 9 that in October, the national industrial producer ex-factory price rose 5.7% year-on-year, with the increase widened by 0.7 percentage points from the previous month; among them, the price of coal mining and washing rose 36.6% year-on-year and 2.7% month-on-month. In addition, the National Meteorological Center continued to issue a blue cold wave warning at 18:00 on November 8, expecting that from 20:00 on November 8 to 08:00 on November 10, many places in central and eastern China will see temperature drops of 6 to 10C, with local drops reaching over 14C, and the 0C minimum temperature line will press southward to southern Shaanxi, southern North China, and southeastern Huang-Huai by the morning of November 10. 4. Physical AI and Siasun Robot&Automation direction surge then pull back The physical AI and Siasun Robot&Automation direction strengthened in the morning session before pulling back. Changzhou Xiangming Intelligent Drive System Corporation hit the 20% limit up. Shanghai Sinotec, Jiangsu Riying Electronics, Zhejiang Jingu, Taier Heavy Industry, and Changzhou Nrb Corporation hit the daily limit up. Zhejiang Fulai New Material touched the limit up intraday and rose over 6% at midday. Guangzhou Frontop Digital Creative Technology touched the 20% limit up intraday and rose over 6% at midday. Hanwei Electronics Group Corporation rose over 13% intraday and over 5% at midday; the humanoid Siasun Robot&Automation concept index narrowed its midday gain to 1.57%. Commentary: On the news front, according to Cailianshe, on November 4, Apple's team published the Siasun Robot&Automation autonomous control system HALO on arXiv. The system completed real-environment testing on Unitree G1 Siasun Robot&Automation, covering 6 unscanned environments not seen during training, and conducted 360 single-task tests in those environments, achieving an average success rate of 91%.