A-share reviews | Shanghai index rose 0.32%, GEM index rose 1.49%, CPO real estate liquor broke out collectively
The Zhitong Finance App learned that on August 12, the three major A-share indices opened low and became popular collectively. The GEM Index and Science Innovation 50 led the way, and the Double Innovation Index all rose by more than 1%. At the close, the Shanghai Stock Exchange Index rose 0.32% to 3946.68 points; the Shenzhen Stock Exchange Index rose 1.09% to 14414.43 points; the GEM Index rose 1.49% to 3602.08 points; Science and Innovation 50 rose 1.61% to 1737.04 points; and the Beijing Stock Exchange 50 rose 0.23% to 1115.78 points. The total turnover of the Shanghai and Shenzhen markets was about 2.15 trillion yuan (2152,423 billion yuan), down about 168.6 billion yuan from the previous trading day. In the entire market, 4,128 stocks rose, and 1,280 fell, with a profit effect of about 76%; 96 stocks rose and fell to 0. The individual stocks generally rose and market sentiment recovered markedly. On the market, sectors such as CPO, optical modules, real estate, communications, semiconductors, liquor, and optical fibers registered the highest gains; sectors such as oil and gas, coal, petroleum and petrochemicals, energy equipment, and electricity registered the highest declines, while film, television, and innovative pharmaceuticals continued to be strong from the previous day.
driving factors
On the same day, the market showed a restorative pattern where technological growth resonated with low consumption: the three major indices opened low and became popular collectively, the GEM index rose 1.49%, and Science and Innovation 50 rose 1.61%, leading the way. The main direction of capital clearly pointed to AI hardware and low-level real estate consumption. The turnover of the Shanghai and Shenzhen markets was about 2.15 trillion yuan, a contraction of about 168.6 billion yuan from the previous trading day. The total market rose by 4128 stocks and fell by only 1,280, rising and stopping 96 and falling to 0, indicating a general rise in individual stocks and a marked recovery in sentiment. However, in the context of the contraction, capital was mainly due to sector rotation rather than incremental entry.
The CPO/optical module direction broke out. According to news, Jibang Consulting raised its forecast for the annual growth rate of AI server shipments of the world's nine largest cloud service providers (CSP) in 2026 to nearly 31%, and estimated that the total capital expenditure will increase by about 90% per year, exceeding 886.7 billion US dollars. Liquid cooling, advanced packaging, 1.6T optical modules, etc. have entered a stage where order visibility is increasing. The real estate sector has been catalyzed by policy easing. Beijing has optimized purchase restrictions and provident fund policies, compounded expectations for the “gold nine silver ten” peak season, and over 100 cities across the country have successively adjusted their property market policies.
In the evening, the US CPI data for July (expected overall YoY 3.4%, core YoY 2.5%) will soon be released. Its strength and weakness will affect interest rate cut expectations for September and trends in the sensitive growth chain of AI computing power, semiconductors, etc.
Popular sector aspects
1. CPO/optical module: The sector exploded throughout the day. Juguang Technology “20cm” rose and stopped (20.00%), Changyingtong rose more than 13%, until Pure Technology and Tongding Internet rose and stopped, and Changguang Huaxin and Hengdongguang collectively surged. According to the news, Jibang Consulting released the AI server industry report. The annual growth rate of the world's nine CSP AI server shipments is expected to rise from 28% to nearly 31% in 2026, with a total annual capital expenditure increase of about 90% exceeding 886.7 billion US dollars, and further increasing to 1.32 trillion US dollars in 2027; the focus of AI investment shifts from “number of GPUs” to full-chain infrastructure upgrades, liquid cooling, advanced packaging, HBM4, 1.6T optical modules, high-speed orthogonal PCBs, and cabinet power supply chains directly benefit.
2. Real estate: The sector continued to rise, and many stocks such as Binjiang Group, CCCC Development, and Rongsheng Development rose and stopped. According to the news, the Beijing Housing and Construction Commission and others jointly issued a notice to reduce the social security or personal tax payment period for non-Beijing households to purchase commercial housing within the 5th Ring Road from “2 years” to “1 year”, and raise the maximum loan amount for husband and wife's provident fund to 3.4 million yuan; the traditional peak season of the real estate market “Golden Nine, Silver Ten” is about to arrive. According to incomplete statistics, more than 100 cities across the country have adjusted their property market policies one after another. The minimum down payment ratio for the first home has generally been lowered to 15% and the second home purchase rate remains low. Interest rates are being implemented in many places. Interest rate.
3. Liquor: The concept was active. The current trend rose and stopped (9.99%). The low-level consumer sector received a return of capital in the rotating market. Together with real estate and pharmaceuticals, it formed the main repair line for “drinking, taking medicine and buying a house” on the same day.
4. Film and television/innovative drugs (continuing the strength of the previous day): The film and television sector continued to be strong yesterday, with Beijing Culture 3; the innovative drug concept strengthened again. Baihua Pharmaceutical's 7-game platform, Zhejiang Pharmaceuticals and Delong Huineng rose and stopped, and the main pharmaceutical line continued to be favored by capital after the implementation of advanced technology.
Adjust the section
Collective adjustments in oil and gas, coal and other cyclical sectors: Shouhua Gas in the oil and gas sector fell by more than 7%; Xindazhou A in the coal mining and processing sector fell more than 9%. Petroleum and petrochemicals, energy equipment, electricity, motorcycles, etc. are weakening at the same time. Most of the above directions are high-ranking cyclical varieties with large increases in the previous period. Capital was clearly withdrawn and the decline was the highest on the same day, forming a clear seesaw effect on technological growth and low consumption.