On September 30th, the Chinese stock market continued to rise, with the Shanghai Composite Index surging by 5%, breaking through the 3,200-point barrier, the Shenzhen Component Index increasing by nearly 8%, and the ChiNext Index skyrocketing by over 10%. More than 5,300 stocks in the market rose, with only 34 falling, and the total daily turnover exceeded 1.5 trillion yuan. Market enthusiasm was high, and investors reaped significant rewards in the A-share market.
Due to the concentrated trading by investors leading to a flood of orders, some brokerage apps experienced transaction delays. CITIC Securities' app was reported by investors to have transaction response timeouts in the morning, affecting individual trades. In response, insiders from CITIC Securities stated that a slight system delay was caused by the large trading volume, but it has since returned to normal. Additionally, Guosen Securities’ JinSun app was pointed out by netizens for having a blank market interface and being unable to process trades. The brokerage systems' capacity faced severe tests in the face of investors' explosive enthusiasm.
Last week, the market capitalization of A-shares surged by 10 trillion yuan within four days, with each investor earning an average of nearly 47,000 yuan. The market heat did not cool down over the weekend, as China Securities Depository and Clearing Corporation made an exception by opening temporary weekend account registrations, while brokerages arranged online registration reviews simultaneously, leading to a surge in the number of new accounts. Some brokerage branches saw their daily account openings increase nearly tenfold compared to the average of the previous month, setting rare records. Meanwhile, bank-to-brokerage transfers hit a new high. According to the Industrial and Commercial Bank of China, on September 27th, the net value of investor bank-to-brokerage transfers soared to 7.04 billion yuan, significantly higher than the previous four trading days, hitting a three-and-a-half-year high.
Shenwan Hongyuan analysts believe that the market's optimistic expectations for the economy are fully fermenting, and the market may shift towards strong fluctuations and sector rotations in the future. However, the profitable effect of the market is expected to continue after the holiday, and investors are still likely to continue profiting in the A-share market.
