On November 11, the three major indexes fluctuated and strengthened, as of the close, the Shanghai Composite Index rose 0.51%, the Shenzhen Component Index rose 2.03%, the ChiNext rose 3.05%, the Science and Technology Innovation 50 Index rose 4.7%, more than 3,800 stocks in the two cities rose, and the turnover of the Shanghai and Shenzhen markets today was about 2.51 trillion yuan.

The

semiconductor sector was among the top gainers, and Guoxin Technology (688262. SH) rose 20%, and AMEC (688012. SH) rose 12.89%, and North Huachuang (002371. SZ) rose 8.7%, and Changchuan Technology (300604. SZ), Xinlian Integration (688469. SH) followed suit.

On the news side, in response to recent market rumors that TSMC will suspend the production of 7nm and below process chips for relevant AI chip customers from November 11, TSMC has not directly denied it.

In addition, on November 7, the two major wafer foundries, SMIC and Hua Hong Semiconductor, released outstanding third-quarter results. Among them, SMIC's revenue in the third quarter stood at the level of US$2 billion in a single quarter for the first time, a record high; Hua Hong Semiconductor's profit in the third quarter also increased significantly.

Guosen Securities pointed out that semiconductors have completed more adequate destocking and supply-side clearance in the downward cycle of the past two years, and now under the marginal pull of AI computing power demand and in the new round of terminal AI innovation expectations, the industry is ushering in a strong and sustainable upward cycle.

The concept of satellite navigation has strengthened, and Brite (688691. SH) rose 20%, and Zhongke Xingtu (688568. SH) rose more than 10%, and the Great Wall of China (000066. SZ), Shanghai Hanxun (300762. SZ) are up.

On the news side, according to the Global Times, Brazil wants to bring in Chinese satellite Internet service providers, and the two sides are negotiating a memorandum of understanding on the relevant memorandum of understanding, which is expected to be signed later this month. An official in charge of telecommunications within the Brazilian Government has confirmed the arrangements with the BBC.

The concept of information and innovation has been repeatedly active, and Huada Jiutian (301269. SZ), Kirin Xin'an (688152. SH) rose 20%, Sunline Technology (300348. SZ), Runhe Software (300339. SZ), Topway Information (002261. SZ) are up.

Guotai Junan Research Report said that with the implementation of government bonds and more active fiscal policies, it is expected that government information and innovation procurement will pick up rapidly from the fourth quarter of 2024.

New energy stocks also performed well, and Tianci Materials (002709. SZ) rose 10%, and Blue Ocean Huateng (300484. SZ) rose 9.46%, Xiamen Tungsten New Energy (688778. SH) rose 5.51%, and Huayou Cobalt (603799. SH), China Baoan (000009. SZ) are up.

On the news side, the "Energy Law of the People's Republic of China" was recently voted and passed at the 12th meeting of the Standing Committee of the 14th National People's Congress and will come into force on January 1, 2025. The law clearly proposes to speed up the construction of wind power and photovoltaic power generation bases, support the development and utilization of distributed wind power and photovoltaic power generation nearby, and provide a strong policy guarantee for the future development of the photovoltaic industry.

On the list of decliners, banks, airport shipping, and coal sectors weakened, and CITIC Haizhi (000099. SZ), Air China (601111. SH), Shaanxi Coal Industry (601225. SH), Postal Savings Bank of China (601658. SH) both fell.

Author: Flying Fish

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