A Deep Dive into Yesterday's Market Fluctuations and Future Trends
Yesterday’s market saw a significant divergence between large-cap and small-cap stocks, with over 4400 stocks closing in the red and the micro-cap index falling over 3%. Conversely, banking stocks continued their strong performance, with the four major banks hitting new all-time highs. This suggests that the micro-cap index has become a short-term sentiment anchor; a sustained stabilization is crucial before a new wave of market rebound can occur. However, after the continuous release of risk in high-level thematic stocks and micro-cap stocks, downward momentum may gradually weaken. Yesterday’s trading volume shrank to below 1.3 trillion yuan, the lowest since September 27th, indicating a potential sentiment repair after this period of low volume.
Furthermore, yesterday’s short-term market showed some positive signs. Historically, after a market downturn, sentiment begins to recover from its nadir. Rekindling market speculation requires leading stocks to rebound and halt further sentiment decline. Yesterday, several leading stocks in previous hot sectors saw capital inflows. For example, Nanjing Chemical Fiber, a popular stock in the robotics sector, hit the daily limit, while Zhongbai Group, a supermarket and retail stock, staged a dramatic recovery from the daily limit to close strongly. If this positive feedback continues, it would help restore short-term speculative sentiment.
The second step in starting a new cycle is the continuous emergence of new hot sectors, new leading stocks, and the subsequent aggregation of speculative interest around them. In terms of the market, the robotics sector continued to recover, focusing on the YuShu Technology industrial chain, with stocks like Jingxing Paper and Changsheng Bearing hitting consecutive daily limits. Analysts believe that in the current wave of “embodied intelligence” entrepreneurship, the mass production and shipment progress of robot dogs is ahead of humanoid robots. Due to the relatively lower technical barriers and product prices, leading manufacturers have already achieved mass production and scale, and are expected to enter the stage of performance realization first.
AI hardware computing power also deserves continued attention. The continuous iteration of multi-modal large models and Agents, along with the continuous launch of AI hardware, will accelerate the commercialization of AI applications, maintaining strong demand for AI computing power. From a market perspective, even in a weak environment, AI computing power has shown strong resilience. Haiguang Information hit a new high, while stocks like Guanghuan New Network and ZTE Corporation experienced significant buying volume. When market sentiment warms up, AI computing power hardware is likely to be among the first sectors to see capital inflows and recovery.
Finally, we look at consumer stocks. Yesterday, retail stocks rebounded, and Laiyifen’s four consecutive daily limits drove gains in some food and beverage stocks. Given the synergy between consumption and WeChat’s Mini Program, consumer stocks remain a crucial focus for capital in future market rotations.
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