According to Zhitong Finance APP, on September 30, the Shanghai Composite Index opened 0.23% higher at 3,839.25 points, the Shenzhen Component Index opened 0.44% higher at 12,958.08 points, and the ChiNext Index opened 0.70% higher at 3,164.70 points. The STAR 50 opened 0.46% higher at 1,576.51 points. As of 9:33 AM, a total of 3,690 stocks in the Shanghai and Shenzhen markets were advancing, 1,506 were declining, and 376 were flat.
Top gainers by sector: biological products, crop cultivation, publishing, non-white liquor, personal care products, communication equipment, etc. Top decliners: real estate services, real estate development, home leasing, equal rights for renting and buying, property management concepts, etc.
The four major indexes collectively opened higher today, with opening gains all within 0.7%. The ChiNext Index led with a 0.70% gain, as growth-oriented sectors that had undergone consecutive adjustments strengthened at the open. As of 9:33 AM, the Shanghai Composite Index stood at 3,839.69 points, up 0.24%; the Shenzhen Component Index at 12,949.23 points, up 0.37%; the ChiNext Index at 3,166.86 points, up 0.77%; and the STAR 50 at 1,578.07 points, up 0.55%. All four indexes were largely fluctuating near their opening prices.
In terms of structure, concepts such as optical communication, laser industry, CPO, and high-speed connectors were active at the open, with the communication equipment sector ranking among the top gainers. Pharmaceutical, agricultural, and consumer-oriented sectors including biological products, crop cultivation, publishing, non-white liquor, and personal care products strengthened simultaneously, with tumor vaccine concepts ranking high on the concept gainers list. Concepts such as disperse dyes and lab-grown diamonds also showed performance.
The real estate chain retreated significantly, with real estate services and real estate development sectors ranking among the top decliners, while concepts such as home leasing, equal rights for renting and buying, and property management weakened in tandem.
In terms of volume and sentiment, as of 9:33 AM, 3,690 stocks in the Shanghai and Shenzhen markets were advancing while 1,506 were declining, with advancers accounting for approximately 66%. There were 18 stocks hitting the daily limit up and 6 hitting the daily limit down, and the money-making effect improved notably compared to the previous trading day. On the previous trading day, combined turnover in the two markets was 1,409.2 billion yuan, a contraction of approximately 293.6 billion yuan from the day before, marking a new low since July 8, 2025.
Overnight News Summary
U.S. stocks closed lower for a second consecutive day: the 30-year U.S. Treasury yield rose above 5.60%, the highest since June 2002, while the 10-year yield touched 5.29% intraday. The U.S. Department of Energy announced the release of 40 million barrels of strategic petroleum reserves through a swap arrangement, and New York light crude oil futures for November delivery fell 3.48% to $89.38 per barrel.
The central bank adjusted several monetary policy tools: it lowered the pledged supplementary lending rate by 0.25 percentage points, reducing the one-year rate from 1.75% to 1.5%, and included the construction of six networks including water networks and computing power networks into supported areas. The quota for relending for technological innovation and technological upgrading was increased by 200 billion yuan, with the support ratio raised from 60% to 100%. The quota for relending to support agriculture and small businesses was increased by 500 billion yuan.
The official manufacturing PMI for September came in at 50.1%, up 0.3 percentage points from 49.4% in August, returning to expansion territory. The Ministry of Industry and Information Technology and six other departments recently issued the "15th Five-Year Plan" for the new battery industry, proposing that all-solid-state batteries initially achieve large-scale application by 2030. TrendForce estimates that high-bandwidth memory prices will rise 121% by 2027.
Trend Analysis
Today is the last trading day before the National Day holiday, and the four major indexes collectively opened higher, with opening gains all within 0.7%. Growth-oriented sectors that had undergone consecutive adjustments led the gains. Although U.S. stocks fell for a second consecutive day overnight and the 30-year U.S. Treasury yield hit a new high since 2002, the sharp drop in oil prices and elevated U.S. Treasury yields had limited suppression on the open, as the market mainly digested policies landing before the holiday. The real estate sector, which surged over 4% on the previous trading day, retreated significantly, while sectors such as optical communication and laser industry took over as active plays. Advancers accounted for approximately 66% of the two markets, with 18 stocks hitting the daily limit up, and the money-making effect improved compared to the previous trading day. Multiple institutions believe that the contraction in turnover before the long holiday is a seasonal phenomenon, and capital returning after the holiday may bring more positive performance.
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