A-share Opening Express | Shanghai Index opened 0.29% higher, led by travel digital media

The Zhitong Finance App learned that on September 3, the Shanghai Index rose 0.29% to 3952.79 points, the Shenzhen Index rose 0.73% to 13711.07 points, the GEM index rose 0.90% to 3342.09 points, and the Science and Innovation 50 rose 1.05% to 1634.52 points. As of 9:33, a total of 4,547 companies in the two markets and the Beijing Stock Exchange had risen, 821 were down, and 187 were flat. The increase was highest: tourism and scenic spots, digital media, hotels and restaurants, film and television, precious metals, energy metals, etc.; the decline was the highest: agriculture, forestry, animal husbandry and fishing, real estate, etc.

Market conditions

Today, major A-share indices opened higher across the board, with Science and Innovation 50 opening more than 1% leading the way. Individual stocks showed a general upward pattern. The number of gainers in the entire market accounted for about 82%, rising and stopping 7 and 5. Market sentiment clearly picked up from the previous trading day. In the sector, consumption and media such as tourism and scenic spots, digital media, hotels and restaurants, film and television theaters are leading the way, and resources such as precious metals and energy metals are showing active performance; Shenwan's first-level industry has risen almost across the board. Only agriculture, forestry, animal husbandry, fishing, and real estate have declined slightly, and national defense and military industries are close to flat.

Overnight quick facts

The three major US stock indices collectively closed higher: US stocks stopped falling and rebounded on September 2. The Dow rose 0.56% to 53061.95 points, the NASDAQ rose 0.45% to 26217.83 points, and the S&P 500 rose 0.46% to 7666.60 points. Dell raised its annual guidance by more than 15% due to an explosion in AI server demand, and Broadcom raised its AI revenue guidance for fiscal year 2026 to US$58 billion.

The central bank reaffirms a moderately loose monetary policy: Central Bank Governor Pan Gongsheng reiterated at the G20 meeting that it will continue to implement a moderately loose monetary policy. On September 2, the central bank made zero reverse repurchases, with a net return of 598.5 billion yuan in a single day; in August, MLF made a net return of 100 billion yuan and a net investment of 50 billion yuan in treasury bond trading. The National Energy Administration deployed the “15th Five-Year Plan” new power grid construction, and the main distribution of micro collaboration, AI+ power grid, and electricity computing collaboration became the new direction.

FTSE A50 index adjustment and shipbuilding order implementation: FTSE Russell announced the FTSE China A50 index adjustment, which included China Micro, Shengyi Technology, and excluded Muyuan Co., Ltd. and Wanhua Chemical, which took effect after closing on September 18. A subsidiary of China Shipbuilding Holdings jointly signed a shipbuilding contract worth more than 1 billion US dollars. The National Health Insurance Administration issued the DRG/DIP 3.0 cluster plan to support new drugs, new consumables, and surgical robots through special individual discussions.

Trend analysis

The opening of A-shares higher today may be boosted by peripheral factors such as US stocks stopping falling and rebounding. The three major US stock indices ended three consecutive declines. Dell's performance exceeded expectations, and the increase in the annual guidance led the AI hardware chain sentiment. Science and Innovation 50 opened more than 1% higher and led the rise; the central bank reiterated a moderately loose monetary policy, which supported market sentiment.

In the sector, consumer media such as tourism, digital media, and film and television lines are leading the way. Precious metals and energy metals benefit from WTI crude oil and risk aversion remaining active, and there is division within the military sector. The financial focus is biased towards the direction where performance visibility is high, such as communication equipment, semiconductors, and power grid equipment.

In the short term, the market experienced a sharp decline and rebound after the contraction and adjustment, but high 10-year US bond yields and uncertainty about the Federal Reserve's policy path are still suppressing factors. The continuation of the rebound may depend on whether volume and energy can be relayed to the main line of technology.