A-share Opening Express | The three major indices collectively opened high and media topics led the way

Opening data

The Zhitong Finance App learned that on October 21, the Shanghai Index rose 0.14% to 3740.57 points, the Shenzhen Index rose 0.32% to 11838.79 points, and the GEM index rose 0.28% to 2746.84 points. Science Innovation 50 opened 1.06% to 1356.63 points. As of 9:37, a total of 3,958 companies in the Shanghai and Shenzhen markets had risen, 1,225 were down, and 190 were flat.

The increase was highest: publishing, digital media, advertising and marketing, film and television, AI corpus concepts, short drama interactive game concepts, fishery, communication equipment, etc.; the decline was highest: express delivery, telecom operators, lithium batteries, robot actuator concepts, etc.

Market conditions

The Shanghai Index opened 0.14% higher, the Shenzhen Index and the GEM Index opened 0.32% and 0.28% higher respectively, and Science Innovation 50 opened 1.06% higher. After opening, the high opening range of each index narrowed rapidly. As of 9:37, the Shanghai Index reported 3733.27 points, down 0.06% from the closing of the previous trading day. The Shenzhen Index rose 0.19%, the GEM Index fell 0.21%, and the Science and Innovation 50 rose 1.13%. The trend of the Shanghai and Shenzhen Main Board and the science and innovation direction diverged.

The media segment led the way, with publishing, digital media, advertising, and film and television showing the highest growth, followed by concepts such as digital reading and online games; the fishery industry topped the list of increases by 3.40% and communications equipment by 2.19%. Express delivery led the decline by 1.76%, individual telecom operator stocks fell more than 1% across the board, the lithium battery sector fell nearly 5%, and Ningde Era led the decline after falling by more than 9%. The robot concept was internally fragmented, and the robot actuator direction fell 1.4%. As of 9:37, the Shanghai and Shenzhen markets had risen and stopped at 22 and 0, accounting for about 74% of the rising companies.

Overnight quick facts

Overnight, US stocks had mixed ups and downs: the Dow rose 1.02% to 52495.88 points, the S&P 500 rose 0.28% to 7712.57 points, and the NASDAQ fell 0.02% to 26424.82 points. Nine of the 11 major S&P sectors rose and fell by two. The medical sector led the rise by 2.34%, the communications services sector fell 0.89%, and international oil prices fell 1.8%.

On October 19, the Financial Street Forum policy was released centrally: The central bank stated that it will establish a liquidity support tool to deal with large redemptions from non-bank institutions, expand the scope of institutions applicable to SLF to domestic and foreign corporate banks, and explore opportunities to switch the period of major open market operations to overnight, making overnight repurchase rates the main policy interest rate; the Securities Regulatory Commission agreed to register the first batch of 18 active ETFs, and the Beijing Stock Exchange 50 ETF will be steadily launched.

On the same day, 9 departments including the Ministry of Commerce issued “Opinions on Accelerating Technology and Business Development”, proposing the in-depth implementation of the “Artificial Intelligence+Manufacturing” special action to promote the deep integration of artificial intelligence technology with product R&D, design, manufacturing, and marketing, and enrich the supply of smart products such as smartphones, wearables, and robots.

Trend analysis

After the opening of the market, the high opening range of the index narrowed rapidly. The Shanghai Index fell below the flat market, and Science Innovation 50 relatively resisted the decline; media-oriented publishing and digital media led the way, robot actuators, lithium batteries, and express delivery weakened, and the divergence between the index and individual stock trends became quite clear within half an hour of opening.

The driving force came from two directions: the Financial Street Forum's initiative focused on interest rate marketization and the basic capital market system; the NASDAQ fell slightly by 0.02% overnight, and overseas technology stocks did not provide additional flexibility. The high development in the direction of science and innovation comes more from industry data — the Ministry of Industry and Information Technology revealed at the press conference of the State Information Office on October 20 that by the end of September 2026, the scale of China's intelligent computing power reached 2,592 EFLOPS, an increase of 146% over the previous year. The sharp drop in stock prices after the third quarter report of the Ningde Era was the main variable suppressing the GEM index and battery industry chain. Until there is a significant increase in turnover, the index may continue to fluctuate, and the continuation of subject rotation remains to be seen.