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on september 10, the market bottomed out and rebounded throughout the day, with the three major indexes rising slightly. as of the close, the shanghai composite index rose 0.28%, the shenzhen component index rose 0.13%, and the chinext index rose 0.06%.

in terms of sectors, huawei ascend, e-commerce, hongmeng concept, cpo and other sectors had the largest gains, while tourism, pharmaceutical commerce, insurance, traditional chinese medicine and other sectors had the largest losses.

overall, more stocks rose than fell, with more than 3,300 stocks rising in the market. the turnover of the shanghai and shenzhen stock markets today was 527.6 billion, an increase of 9 billion from the previous trading day.

at the close of this morning, the a-share market was quite pessimistic:

the shanghai composite index continued to hit a new low, the shenzhen composite index and the chinext index both fell by more than 1%, with more than 4,000 stocks falling, and the total trading volume for the day was estimated to be less than 500 billion yuan.

but as soon as the market opened in the afternoon, the market changed drastically:

from 13:00 to 13:15, all major indexes suddenly rose significantly, with the chinext index and the science and technology innovation 50 index turning positive first. after approaching the 0 axis, this upward momentum tacitly came to a temporary halt.

after a while, around 14:00, another stronger wave of pull-ups appeared, this time directly pulling all three major indexes into the red.

from then until the close, the overall market did not fall back significantly. more than 3,300 stocks closed in the green, and the sentiment can be said to have improved significantly.

do you know what happened?

first and foremost, the broad-based etfs have seen explosive growth in volume.

the movements of broad-based etfs have become an old friend of many stock investors as they watch the market recently.

in the time-sharing chart, the volume was very obvious in the first 15 minutes. when it rose for the second time, the length of the red column was more exaggerated, and the effect of the rise was naturally stronger.

specifically in terms of products, in addition to the sse 300 etf, which has always been the "main battlefield", the chinext etf (159915), which began to move abnormally yesterday, also continued to be active.

as of the closing, the product's total daily trading volume was 2.34 billion yuan, of which more than 200 million yuan came from the first 15 minutes of the afternoon trading session; the second wave of cumulative trading volume exceeded 400 million yuan.

this article cannot assert whether today is the "bottom" or not, after all, the trading volume of the entire a-share market has not yet been fully opened.

but these two waves of changes did bring some changes to the market.

on the one hand, several sectors took advantage of the momentum to turn positive, took over the lead, and continued to expand their gains during the second wave of rise.

in terms of contribution, the first 15 minutes were driven by popular cpo concept stocks, such as zhongji xuchuan, xinyi sheng, tianfu communication, as well as heavyweight stocks in the new energy sector such as catl and sungrow power supply.

the index has since fallen back slightly, but the cpo concept remains strong.

a detail that many people have not noticed is that at around 11 am yesterday, the chinext index rebounded, almost entirely driven by the "three musketeers" of cpo rather than the broad-based etfs.

this shows that some funds may have been deployed in advance.

according to the news, the 25th china international optoelectronics exposition will be held at the shenzhen international convention and exhibition center (bao'an) from september 11 to 13. it is worth noting that at this exhibition, zhongji xuchuan, hgz-power, accelink technologies and other manufacturers will display 1.6t optical module related products.

another change on the market is the return of consumer electronics concepts. after all, compared with pharmaceutical stocks, consumer electronics and cpo are more "technological", and logically there is a greater possibility of linkage.

during these 15 minutes, consumer electronics sub-sectors such as huawei hisilicon turned from lows to highs.

even shenzhen huaqiang, which was blocked at the lower limit by hundreds of millions of funds in the sector, was repeatedly pried open - this was almost the only case among the high-priced stocks that collectively retreated and hit the lower limit today.

however, one thing needs to be reminded that perhaps due to the weak market, the consumer electronics sector has been mainly focused on realizing positive news in the near future.

for example, apple held its autumn new product launch conference early this morning. however, apple concept stocks reacted coldly to it today, and leading stocks such as lingyi intelligent manufacturing and saiteng shares performed poorly.

but byhuawei's related products and event-driven flexible screen concepts perform better in comparison, and turned red in the afternoon with the second wave of pull-up.

citic securities said that compared with the current mainstream left-right folding mobile phones, the three-fold mobile phone has not only undergone significant changes in folding form, but also the corresponding mobile phone component value has increased significantly. first, the size of the inner screen has been greatly increased, and the bending strength of the folding screen has been required to be higher, and the demand for flexible oled panels has further increased; secondly, the number of hinges has doubled. huawei announced a patent for the design of a three-fold screen mobile phone in march this year, using two sets of hinges to connect the three parts of the shell, and the demand for hinges for three-fold mobile phones has doubled.

finally, there is another theme that has been relatively strong this week - the concept of state-owned enterprise reform, which can even be broken down into"shanghai soe reform"。

on the news front, he qing, party secretary and director of the shanghai state-owned assets supervision and administration commission, published an article titled "focus on core competitiveness and deepen the reform of state-owned assets and state-owned enterprises" in the liberation daily on september 10. it mentioned that the state-owned capital should be allocated in a larger scope, deeper level and wider field, and cross-group and cross-level strategic restructuring should be promoted. some enterprises should be "slimmed down" to create a number of leading enterprises and chain-leading enterprises to enhance their competitive advantages.

wang zhenhuai, chief analyst of changjiang securities hunan branch, said that the concept of reform of central and local state-owned enterprises continued to ferment on the market yesterday. the main reason was the recent intensive news of state-owned enterprise reform: on september 1, a large power plant was reorganized; on the 2nd, two shipbuilding companies merged; on the 5th, securities companies merged; on the 8th, a large mining plant was reorganized, igniting the heat of state-owned asset mergers and acquisitions and restructuring.

from the market perspective, as the high-level group stocks disintegrate, funds switch between high and low positions, and companies with lower ranks and merger and reorganization expectations are explored by market funds. however, the directions included in the reform of state-owned enterprises are relatively scattered, and it is difficult to form a sector effect.

galaxy securities said that in line with the spirit of the third plenary session of the 20th cpc central committee and the new round of reform measures for central soes, the investment value of central soes in the fields of national security, infrastructure construction, and technological innovation is expected to gradually increase. central soes in industries such as pharmaceuticals and biology, building decoration, communications, environmental protection, transportation, and petrochemicals have significantly superior performance, low valuations, and high dividend yields relative to the industry as a whole, and have high investment value.

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