The three major indices of A-shares in Shanghai and Shenzhen opened lower and rose in the first half of the day, increasing by 0.4% to 2.7%. Lithium battery stocks were hotly traded while domestic banks were under pressure

The market anticipates that the Federal Reserve will cut interest rates again in December, coupled with the end of the longest government shutdown in U.S. history lasting 43 days. Dow futures are currently up 84 points or 0.2%, reported at 48,452. The three major A-share indices in mainland China opened lower but rose during the morning session, with a half-day increase of 0.4% to 2.7%. The Shanghai Composite Index rose 17 points or 0.4% to close at 4,017, with a turnover of 539 billion yuan (the same below). The Shenzhen Component Index rose 238 points or 1.8% to 13,478, with a turnover of 719.5 billion yuan. The ChiNext Index rose 83 points or 2.7% to 3,205, with a turnover of 319.3 billion yuan.

Major domestic banks faced pressure against the market trend, with Industrial and Commercial Bank of China (601398.SH), Bank of China (601988.SH), and China Construction Bank (601939.SH) each falling 1.2% to 1.5% during the morning session, while Postal Savings Bank of China (601658.SH) dropped 1.7%. Agricultural Bank of China (601288.SH) A-shares retreated 1.8% from their historical high, closing at 8.44 yuan. Ping An Bank (000001.SZ), China Merchants Bank (600036.SH), and Minsheng Bank (600016.SH) fell between 0.2% and 0.7%.

Major domestic insurance stocks showed mixed results, with China Life (601628.SH) slightly down 0.3%, Ping An Insurance (601318.SH) up 1.1%, and China Pacific Insurance (601601.SH) slightly up 0.1%.

Major chip stocks performed well, with Semiconductor Manufacturing International Corporation (688981.SH) rising about 2% in the morning session, as the company will announce its third-quarter results today. Hua Hong Semiconductor (688347.SH) and Cambricon Technologies (688256.SH) rose 2.8% and 0.6%, respectively.

BYD (002594.SZ) rose 1.5%. The lithium battery sector experienced a surge, with multiple stocks including Huasheng Lithium Battery (688353.SZ), Shida Shenghua (603026.SH), and Tianci Materials (002709.SZ) hitting the daily limit. Contemporary Amperex Technology Co., Limited (300750.SZ) opened slightly lower but rose, with a half-day increase of 8.2%. Ganfeng Lithium (002460.SZ) and Tianqi Lithium (002466.SZ) rose between 7.7% and 9.9%.

After a sharp decline yesterday, photovoltaic stocks rebounded, with LONGi Green Energy (601012.SH) rebounding 2.7% and Tongwei Co., Ltd. (600438.SH) recovering 3.2%. In response to rumors circulating online about a "de-involution" plan in the photovoltaic industry being stalled, the China Photovoltaic Industry Association issued a statement indicating that the information circulating online is false. The association is working with various enterprises in the industry to promote self-discipline and "de-involution" efforts, which are progressing steadily