a-shares

According to reports from the Financial Associated Press, the A-share market rebounded quickly in the afternoon, with the Sci-Tech 50 Index rising nearly 10% and the ChiNext Index rising over 6%. The semiconductor industry ETFs collectively rose, with the semiconductor ETF Bosera (159582) and the semiconductor equipment ETF CMB (561980) hitting the daily limit. The total transaction amount in the Shanghai and Shenzhen markets reached 2.04 trillion yuan, an increase of 334.3 billion yuan compared to the previous trading day. Over 4,600 stocks in the entire market rose, with more than a hundred stocks hitting the daily limit.On the market, the semiconductor industry chain rose, with Jingyi Equipment, Torens, Huafeng Measurement and Control, Qiangyi Co., and Jiangfeng Electronics hitting the daily limit of 20%. Northern Huachuang, Tongfu Microelectronics, and Jinhaitong also hit the daily limit. In the precious metals sector, Xiaocheng Technology hit the daily limit of 20%, while Shanjin International, Zhaojin Gold, Sichuan Gold, Chifeng Gold, and Shengda Resources also hit the daily limit. Innovative drugs and CRO concepts experienced fluctuations and rises, with Jinling Pharmaceutical, WuXi AppTec, and Kailai Ying hitting the daily limit. Computing hardware stocks rebounded in the afternoon, with New Yisheng, Zhongji Xuchuang, and Changguang Huaxin rising over 10%.Robotics and physical AI concepts performed actively, with Yongzhen Co. achieving two consecutive limits, while Fulai New Materials and Zhongma Transmission hit the daily limit, and Suochen Technology hit the daily limit of 20%. On the downside, stocks related to the "sheep" category collectively weakened, with Aoyang Health, Sunshine Lighting, Sunshine Dairy, and Baiyang Co. hitting the daily limit. By the close, the Shanghai Composite Index rose 2.16%, the Shenzhen Component Index rose 4.22%, and the ChiNext Index rose 6.4%.

According to reports from People's Financial News, Bao Chengchao, the chief strategist of the research department at CITIC Securities, pointed out in his latest insights that, compared to the global market, the valuation of domestic large-cap blue-chip stocks is at a relatively low level. The A-shares market is the only one among the U.S., Japan, South Korea, and A-shares where the AI relative to non-AI valuation premium is still higher than the historical mean. As of October 22, 2026, the PE ratio of A-shares for AI/non-AI is 4.4 times, which is at the 82nd percentile since 2016, while the same indicator for the U.S., Japan, and South Korea has fallen to the 1%, 17%, and 24% percentiles, respectively.The AI premium in overseas markets has largely been absorbed by the rise in non-AI valuations. The PE ratios for non-AI non-financial leaders in the U.S. and Japan are 33.5 times and 23.0 times, respectively, which are at the 98% and 95% percentiles in history. The overall PE ratio for A-shares related to domestic demand and manufacturing non-AI blue-chip stocks is only 15.6 times, which is at the 21% percentile in history. Bao Chengchao believes that this misalignment indicates that the large-cap blue-chip stocks related to domestic demand and manufacturing in A-shares have relatively ample room for valuation recovery.Bao Chengchao also stated that the realization of this space requires coordination with macro conditions. On the overseas front, if the AI spending cycle gradually approaches a downward turning point, long-term U.S. Treasury rates may also decline, leading to marginal improvements in the demand and valuation environment for global non-AI sectors. Domestically, the clear alignment of fiscal and monetary policies places a focus on expanding domestic demand, with increasing signals of marginal improvement in core indicators of domestic demand. If the decline in overseas interest rates and the recovery of the domestic economy create a phase resonance, the profit expectations and valuation constraints of large-cap blue-chip stocks in A-shares are expected to recover simultaneously.

According to reports from the Financial Associated Press, the three major indices of A-shares quickly fell back in the afternoon, with the ChiNext Index dropping over 3%, after previously rising more than 1%. The trading volume in the Shanghai and Shenzhen markets was 1.46 trillion yuan, a decrease of 147.8 billion yuan compared to the previous trading day, with over 4,900 stocks in the entire market declining.On the market, in the robotics sector, Duolun Technology, Saifutian, and Xiangyang Bearing achieved four consecutive trading limits, while Guangyang Co. achieved two consecutive trading limits, and Dayang Motor reached its daily limit. In the consumer sector, food and beverage and retail led the gains, with Guifaxiang, Sunshine Dairy, and Qingdao Food achieving two consecutive trading limits, and Maoye Commercial and Guangbai Co. reaching their daily limits. The banking sector strengthened during the day, with Shanghai Rural Commercial Bank rising over 4%, reaching a new high for the year, while China Construction Bank and Industrial and Commercial Bank of China set new historical highs.On the downside, the pharmaceutical sector weakened, with Lingkang Pharmaceutical and Wanze Co. hitting their daily limits, and stocks like Nearshore Protein and Shiyao Innovation experiencing significant declines. The edge-side AI concept saw fluctuations and adjustments, with Yidao Information hitting its daily limit, and companies like Xingchen Technology and Yiwei Communication also falling. By the close, the Shanghai Composite Index fell by 1.33%, the Shenzhen Component Index fell by 2.5%, and the ChiNext Index fell by 3.41%.

A-share chip stocks opened high, with Zhongjing Technology hitting the daily limit, Dongwei Semiconductor rising nearly 5%, and stocks such as Torens, Purun Co., Ltd., Huahai Chengke, and Jingsheng Co., Ltd. following suit. NVIDIA CEO Jensen Huang stated that artificial intelligence safety is crucial; NVIDIA's chip sales next year will be double that of this year.

According to Gate quotes, the A-shares opened with the Shanghai Composite Index down 0.96%, the Shenzhen Component Index down 2.09%, and the ChiNext Index down 2.7%. N Yushu opened on its first day with a rise of 629.44%, and the current stock price is reported at 1100 yuan, with an issue price of 150.80 yuan per share.

The domestic storage giant Changxin Technology has landed on the Sci-Tech Innovation Board, breaking multiple A-share historical records on its first day:The first technology stock in A-shares with an opening market value exceeding 3 trillion, with an opening total market value of approximately 3.31 trillion yuan;Topping the market value list of the Sci-Tech Innovation Board, surpassing SMIC to become the highest market value listed company on the Sci-Tech Innovation Board;The first stock in A-shares with a single-day trading volume exceeding 100 billion, with over 100 billion yuan traded in the first hour of listing, and expected to set new historical records throughout the day;The first new stock in A-shares with a trading volume of 100 billion combined with a turnover rate exceeding 50%, with massive trading volume and high turnover coexisting, and unprecedented trading activity.

Changxin Technology in the A-share market rose over 467.78%, with a transaction amount of 98.6 billion yuan, setting a record for the single-day stock transaction amount in the A-share market; surpassing the previous record of 90.038 billion yuan set by East Money on October 9, 2024.

The domestic DRAM leader Changxin Technology (688825.SH) today listed on the Sci-Tech Innovation Board for the first time, opening at 49.5 yuan, a 471.59% increase from the issue price of 8.66 yuan, with a market value reaching 3.3 trillion yuan, ranking first in A-shares. This IPO raised approximately 57.9 billion yuan (before the full exercise of the over-allotment option), making it the largest IPO on the Sci-Tech Innovation Board to date. Based on the opening price, investors who subscribed earned 20,000 yuan.Nomura Securities simultaneously initiated coverage on Changxin Technology, giving a target price of 116 yuan, based on an expected earnings per share of 5.8 yuan in 2028 and a target price-to-earnings ratio of 20 times, implying an approximate 13.4 times increase from the issue price, with an implied market value of about 7.76 trillion yuan. Nomura believes this valuation is about twice that of Micron, primarily based on expectations of market share growth for Changxin Memory and the valuation premium in the Chinese market.

Today, the main indices of A-shares collectively rose, with the Shanghai Composite Index up 0.50% to 4094.40 points, the Shenzhen Component Index up 2.48% to 16205.56 points, the ChiNext Index up 2.99% to 4342.71 points, and the STAR 50 Index up 3.85% to 2207.86 points. The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 3.29 trillion yuan, a decrease of 245.5 billion yuan compared to the previous trading day. Over 3000 stocks in the market rose, with 170 stocks hitting the daily limit.In terms of sectors, robotics, optical optoelectronics, semiconductors, and military electronics led the gains; while animal health, pharmaceutical commerce, coal, and banking sectors saw the largest declines.From the overall performance in the first half of the year, the main indices of A-shares all rose. Among them, the Shanghai Composite Index accumulated a rise of over 3%, the Shenzhen Component Index accumulated a rise of nearly 20%, the ChiNext Index accumulated a rise of over 35%, and the STAR 50 Index accumulated a rise of over 64%.

According to Jinshi News, the three major A-share indices expanded their declines in the late trading session, with the Shenzhen Component Index falling over 2%, the ChiNext Index dropping nearly 3%, and the Shanghai Composite Index currently down by 0.64%.

According to Jinshi reports, the three major A-share indices continued to rise in the afternoon, with the ChiNext index increasing by more than 5%, and the Shanghai Composite Index currently up by 2.21%.

On January 12, the A-shares continued to soar, rising significantly. By the time of publication, the trading volume of A-shares exceeded the 3.47 trillion yuan set on October 8, 2024, becoming a new record for single-day trading volume in A-shares.According to Wind statistics, the trading volume of A-shares has surpassed 3 trillion yuan a total of 6 times, specifically on October 8, 2024, August 25, August 27, August 28, and September 18, 2025, and January 9, 2026.It is worth noting that since mid-December 2025, A-shares have been on a continuous upward trend, with the Shanghai Composite Index having recorded 16 consecutive days of gains. By the close on January 12, a 17th consecutive gain seems almost certain. The driving force behind the rise in A-shares on January 12 comes from the explosive growth of AI application themes and the ongoing fermentation of commercial aerospace concept stocks.

The A-share index continues to strengthen, with the Shanghai Composite Index rising nearly 0.6% during the session, breaking through 4100 points, reaching a new high since the end of July 2015.

ChainCatcher news, according to Gelonghui, A-shares turned red and rose above the 4000-point mark, continuing to set a new 10-year high.

ChainCatcher news, according to Jinshi reports, the A-share digital currency concept has seen unusual fluctuations, with Hailian Jinhui hitting the daily limit, and Zhengyuan Zhihui rising over 10%. Stocks such as Tianrongxin, Yuxin Technology, Youbuxun, and Tianyang Technology have also followed suit.

ChainCatcher news, according to Jinshi reports, the A-share digital currency concept is fluctuating upward, with stocks such as Dongxin Peace, StarNet Ruijie, and Zhongke Jincai hitting the limit up, while stocks like Guao Technology, Hengbao Co., and Yinzhijie also saw follow-up gains.

ChainCatcher news, in the morning session, A-shares continued to rise strongly, with the Shanghai Composite Index opening high and reaching a new 10-year high; the Beijing Stock Exchange 50 hit a historical high, and important indices such as the Shenzhen Component Index, ChiNext Index, and Sci-Tech Innovation 50 also reached new phase highs.Nearly 4,500 stocks in the entire market rose, with over a hundred stocks hitting the daily limit. According to real-time data statistics, as of 10:34 AM, the total market capitalization of A-share companies exceeded 100 trillion yuan (calculated based on the latest A-share price * total A-share capital), setting a historical high. This is also the first time in A-share history that it has surpassed the 100 trillion yuan mark. (China Fund News)