A-share Midday Review | ChiNext Index rises 1.49%, AI comic dramas surge, oil and gas stocks weaken

On November 10, the three major A-share indices opened collectively higher, with the ChiNext Index rising more than 2% at the start of trading before gradually narrowing its gains, as the market showed a divergent pattern of "indices opening high and pulling back, accelerated rotation of thematic sectors, and pressure on resource stocks." As of the midday close, the Shanghai Composite Index rose 0.06% to 3,662.81 points, the Shenzhen Component Index rose 0.76%, and the ChiNext Index rose 1.49%. More than 3,800 stocks across the market advanced, while fewer than 1,500 declined. Half-day turnover across the Shanghai, Shenzhen, and Beijing markets totaled RMB968.3 billion, down RMB50 billion from the previous trading day. On the capital flow front, main funds recorded net inflows into sectors including electronics, cultural media, and telecommunications during the morning session, with the electronics sector seeing net inflows exceeding RMB6.1 billion, while net outflows were seen in power equipment and new energy, transportation, and oil and petrochemicals. Market Overview On the board, on the upside, film and cinema, cultural media, components, and humanoid robot sectors led gains, with minor metals such as tungsten also strengthening; on the downside, oil and gas extraction and services, coal mining and processing, insurance, and potash fertilizer sectors lagged. Overall, the three major indices continued to narrow their gains after opening higher, with the Shanghai Composite up 0.58% at the open, reaching an intraday high of 0.63%, before narrowing to a 0.06% gain at midday; the ChiNext Index pulled back from an early gain of more than 2% to 1.49%. Resource stocks such as oil and gas and coal weakened, dragged down by the sharp drop in international oil prices, while thematic funds concentrated on AI applications and robotics. Hot Sectors 1. AI comic drama concept sees wave of limit-ups The film and cinema sector surged 6.04%, with Cultural Investment Holdings hitting its second consecutive limit-up, Shanghai Film achieving two limit-ups in three days, and Ciwen Media Co.,Ltd., Guangzhou Jinyi Media Corporation, IReader Technology, Inly Media Co., Ltd, Hangzhou Freely Communication, Shanghai Fengyuzhu Culture Technology, Shenzhen Topway Video Communication, and Shanghai New Centurion Network Information Technology hitting limit-up. Zhejiang Huace Film & TV touched the 20% limit-up intraday and was up more than 14% at midday, while Zhejiang Huazhi Digital Media rose more than 12%. Comment: On the news front, according to Cailianshe, 82 of the top 100 overseas short drama platforms in October this year were primarily invested in by Chinese companies, with NetShort occupying 63 seats and DramaBox occupying 9 seats, both platforms backed by Chinese enterprises. Separately, according to the "China Mobile Internet Autumn Report" released by market research firm QuestMobile, in September 2026, the total usage time of short drama video and short video apps increased by 13.329 billion hours and 5.717 billion hours, respectively, ranking as the top two growth tracks by time spent. 2. Humanoid robot sector strengthens The robotics sector rose 3.94%, with Hangzhou Kelin Electric Co.Ltd, Zhejiang TongLi Transmission Technology, and Yangzhou Seashine New Materials hitting the 20% limit-up, Zhejiang Fulai New Material hitting limit-up for its third limit-up in five days, Changzhou Nrb Corporation, Zhejiang Fenglong Electric, and Shanghai Sinotec each hitting their second consecutive limit-up, Taier Heavy Industry hitting limit-up, and Unitree Robotics rising more than 8%. Comment: On the news front, on November 9 local time, Anthropic released its new-generation flagship model Claude Fable 5.2, which achieved a 64.9% success rate in the RoboDojo simulated dual-arm robot test, higher than GPT-6 Astra's 29.8%. On the same day, Nvidia released the world action model GR00T 2, with pre-training integrating 403,000 hours of first-person human video, 10,000 hours of UMI gripper data, and 23,500 hours of robot teleoperation data; after incorporating complete human video, the average completion progress on 72 real-machine tasks rose from 50% to 70%. In addition, Musk said that "Optimus" is expected to begin deliveries around the end of 2027, possibly in the form of leasing rather than sale, with an initial cost of about US$30,000 per unit, later dropping to about US$20,000. 3. Components and PCB sectors active The components sector rose 2.77%, and the printed circuit board sector rose 3.09%, with Jiangsu Xiehe Electronic hitting limit-up, Nanjing Comptech Composites Corporation rising more than 15%, Changzhou Aohong Electronics rising nearly 8%, Shenzhen Xunjiexing Technology Corp. rising more than 7%, Wus Printed Circuit rising more than 6%, and Olympic Circuit Technology touching limit-up intraday and rising more than 8% at midday. Comment: On the news front, the Philadelphia Semiconductor Index rose 6.85% overnight in the US, with the optical communications sector also surging, as Coherent rose 16.79%, Lumentum rose 10.69%, and Corning rose 9.25%; strength in overseas AI hardware drove follow-on gains in A-share components and PCB sectors. According to Cailianshe market monitoring data, main funds recorded net inflows exceeding RMB6.1 billion into the electronics sector in the morning session, with Eoptolink Technology Inc. leading with net buying of more than RMB1.3 billion. 4. Oil and gas extraction and services sector weakens The oil and gas extraction and services sector fell 1.48%, with PetroChina down more than 5%, and CNOOC Limited, China Oilfield Services, and Zhongman Petroleum and Natural Gas Group Corp.,Ltd. each down more than 3%. Comment: On the news front, according to Securities Times, Trump said in an interview on November 8 local time that as long as US-Iran negotiations make progress, the United States is "extremely unlikely" to resume large-scale military action against Iran. At the same time, market rumors circulated that Iran had made concessions on the Strait of Hormuz issue, causing geopolitical risk premiums to quickly unwind. Affected by this, as of Monday's close, the price of light crude oil futures for December delivery on the New York Mercantile Exchange fell 4.38% to US$86.85 per barrel; London Brent crude oil futures fell 5.85% to US$92.57 per barrel.