Mid-day Review: All Three Major Indices Rise, Tech Concept Leads the Way!
On August 15th, the three major indices rose during the morning session. The PEK materials concept led the way, with Jining Holdings and Lianhong New Materials both reaching their daily highs. The liquid-cooled server sector also saw strong gains, with Chuanrong Technology (300547) and Runde Materials (300727) among the top performers. Solid-state battery stocks were active as well, with Nodeshares (600110) and Shandong Chapter Drums (002598) both reaching their daily highs.
As of the midday break, the Shanghai Composite Index stood at 3683.58 points, up 0.47% from the previous day's close. The Shenzhen Component Index rose to 11587.38 points, a gain of 1.19%. The ChiNext Index climbed to 2522.62 points, a rise of 2.14%.
The sector with the largest gains was PEK materials, followed by other power equipment and rubber products. The banks and white wine sectors saw declines, while the cross-border payment concept experienced a correction.
Hot Concepts:
1. Liquid-Cooled Servers
Companies such as Lianhong New Materials, Chuanrong Technology, and Runde Materials all saw their stocks rise.
According to an IDC report, the Chinese liquid-cooled server market is expected to grow at a compound annual growth rate of 46.8% from 2024-2029, with a market size exceeding $162 billion by 2029. This will drive industry sentiment and boost demand for liquid-cooled servers.
2. PEK Materials
Companies such as Double One Technology, Jining Holdings, Lianhong New Materials, and Huaiyuan Shares all saw their stocks rise.
The PEK material is known as the "plastic golden triangle" due to its high strength-to-weight ratio, resistance to high temperatures, self-lubrication, and fatigue resistance. It has become a popular choice for use in robot joints, new energy automotive batteries, and aerospace components.
News:
1. National Development and Reform Commission will research and formulate policies to promote the development of ocean industries and encourage central enterprises and social capital to participate in the development of ocean economies.
2. Hainan Province will issue a notice on August 16th to September 10th, offering consumption coupons for travel, accommodation, and other tourist-related services to tourists from all over the country.
3. National Bureau of Statistics released data showing that retail sales of consumer goods in July totaled ¥38780 billion, up 3.7% year-on-year. The same period saw a growth of 4.8% year-on-year for social consumption, excluding automobiles.
4. Hainan Province will further optimize the adjustment of related control policies to promote the development of ocean industries and encourage the use of guaranteed housing funds to purchase existing commercial housing stock for rental or sale.