October 28th Midday Review: The Shanghai Composite Index breaks above 4000 points, reaching a new high in over ten years, as local stocks in Fujian continue to surge

The market opened lower in the morning but rebounded, with the Shanghai Composite Index standing above 4,000 points for the first time in ten years, reaching a new high since August 19, 2015. Local stocks in Fujian continued to surge, with HXCX, FJC, and several other stocks hitting the daily limit. The quantum technology concept remained active, with Geer Software and Dahua Intelligent also hitting the daily limit. Stocks related to computing power hardware, such as Jingwang Electronics, hit the daily limit, while LianTe Technology rose over 10%. On the downside, the coal sector adjusted, with Dayou Energy nearing the daily limit down. More stocks rose than fell, with over 3,000 stocks in the Shanghai, Shenzhen, and Beijing markets in the green, and a total turnover of 1.36 trillion in the morning session. At the noon closing, the Shanghai Composite Index rose by 0.21%, the Shenzhen Component Index rose by 0.52%, and the ChiNext Index rose by 1.35%