Index rebounded, ChiNext and tech innovation soared.
Shanghai Composite hit a low of 2867.72, close to the crucial 2863.65, lifted by an invisible force.
Wednesday's review hinted at today's surge, but the process differed. Expecting a breakthrough, the index rose without breaking first, suggesting Thursday's rebound isn't a reversal.
Emotional stability in continuous boards.
Long Bai Mountain weakened, reduced to 4 continuous boards.ZTE Business resisted massive selling pressure, with expectations of continued limit-up supported by companies like Guofang Group and Shen Zhonghua.
Hot sectors:
HarmonyOS concept surged, with over 10 stocks like Yuhua Electronics, Chuangshi Technology, and Constant Mountain North Bright Education hitting the limit.
CRO rose over 4%, driven by a research service agreement between CRDMO and BioNTech.
New energy stocks like lithium batteries surged, influenced by Core Lithium's announcement and a 6.4% rise in lithium carbonate futures.
Flying cars:
Xpeng's flying car showcased at CES, boosting stocks like Guangyang, Prince New Materials, and Wanfeng Owning to a novel concept, these stocks may see heightened activity.
Digital currency:
SEC approved 11 Bitcoin spot ETFs, pushing stocks like Zhidu and Jida Zhengyuan to the limit. Overshadowed by HarmonyOS, it's a defined rebound with premium gains in the front and followers chasing highs in the back.
Computing power and data elements:
High-tech development, Shenzhen Sangda, and Direct Truth Technology hit the limit.Despite the rebound, without breaking the downtrend, it's advisable to reduce holdings.
New retail:
Frontline promotion is strong, but the overall performance is average, with funds flowing into new energy and general technology.
If the index stagnates later, short-term funds may retract. Watch for adjustments during corrections.
Summary:
ChiNext broke first, indicating a short-term bottom. Shanghai Composite's bottom features are unclear, and further declines may occur. Focus on fund inflows into sectors like new retail.
