Midday update: The three major indices have all risen by over 1%, with resource cycle stocks such as oil, gold, and chemicals all seeing significant gains.

The three major indexes collectively rose in the morning session, with the Shanghai Composite Index up 1.17%, the Shenzhen Component Index up 1.82%, and the Growth Enterprise Index up 1.76% by midday. The CSI 50 Index rose by 0.93%. The total turnover in Shanghai, Shenzhen, and Beijing reached 1.521 trillion yuan by midday, an increase of 307.4 billion yuan compared to the previous day. Over 4,200 stocks in the entire market have risen. In terms of sector themes, the oil and gas exploration and service, precious metals, optical fiber concepts, phosphorus chemical industry, chemical raw materials, power grid equipment, coal mining and processing, CPO, and port shipping sectors led the gains. The film and television, AI applications, cloud computing, tourism and hotel, insurance, and liquor sectors led the declines. Worries about Trump's tariff policy and the imminent escalation of the US-Iran situation have led to significant gains in oil, natural gas, gold, and chemical resources cyclical stocks. Several stocks, including Zhongman Petroleum, Hunan Silver, and Jinniu Chemical, have hit the limit up. AI-driven demand continues to rise, with optical fiber, CPO, and PCB hardware stocks strengthening. Changfei Optical Fiber hit the limit up again to refresh historical highs. Tianfu Communications, China Inter Xuchuang, and New Yisheng are among the top gainers. Meanwhile, multiple sectors such as port shipping, storage chips, and power grid equipment are showing strong performance. On the other hand, the film and television sector plunged in the morning session, with Enlight Media hitting the 20cm limit down. China Film, Hengdian Film and Television, and Bona Film all experienced significant declines. According to statistics from the National Film Bureau, as of 9:00 on February 24, the box office revenue for the 2026 Spring Festival was 5.752 billion yuan. Most AI application concept stocks are declining, with Every Interaction and Golden Modern leading the losses.