A-share review | Shanghai index rose 0.19%, petroleum banks strengthened, computing power and hardware weakened

The Zhitong Finance App learned that on October 26, the three major A-share indices fell after opening low in early trading and fluctuated and rebounded in the afternoon. The Shanghai Index turned red at the end of the session and closed close to the highest point in the whole day. The Shenzhen Stock Exchange Index, GEM Index, and Science and Technology Innovation 50 all closed down. At the close, the Shanghai Stock Exchange Index rose 0.19% to 3697.52 points, the Shenzhen Securities Index fell 1.19% to 11534.38 points, the GEM index fell 1.71% to 2638.23 points, Science and Technology Innovation 50 fell 2.23% to 1315.50 points, and the Beijing Stock Exchange 50 fell 2.13% to 963.95 points. The turnover of the Shanghai and Shenzhen markets was 168.785 billion yuan, a decrease of 347.499 billion yuan from the previous trading day. Shanghai and Shenzhen A-shares rose by 2,252 individual stocks, 3,157 fell, 168 traded flat, 59 rose or stopped, and 28 fell to a halt, accounting for about 40% of the rising stocks.

In terms of sectors, oil service engineering, real estate services, snack food, pharmaceutical businesses, large state-owned banks, and games registered the highest gains; components, glass and fiberglass, electronic chemicals, precious metals, communication equipment, and semiconductors registered the highest declines.

driving factors

The Shanghai index fell to a low of 3664.82 points throughout the day (down 0.70% from the previous closing), and the GEM index fell to a low of 2601.09 points (down 3.09%). At the end of the session, the Shanghai index rebounded and turned red, while petroleum and petrochemicals rose 2.41% and banks rose 1.76% in the opposite direction from the 6.79% drop in components and 9.35% in the copper clad plate concept, which constituted index differentiation for the day.

European gas prices have risen to the highest level since 2022. Norwegian gas transportation system operator Gassco previously announced that the Troll gas field would be shut down unplanned between October 25 and 26, affecting 6.1 million m3/day. On the same day, CNPC rose 4.94%, CNOOC rose 7.23%, CNOOC engineering rose 5.95%, and CNOOC rose 4.27%.

On October 26, the People's Bank of China launched a 700 billion yuan 1-year MLF operation with fixed amounts, interest rate tenders, and multiple price wins. The MLF maturity scale in that month was 900 billion yuan, achieving a net return of 200 billion yuan, the third net return in the year. In the Asia-Pacific market, the Nikkei 225 index closed down 0.80% to 62189.65 points, Korea's KOSPI index fell 1.46% to 5469.47 points, and Goldman Sachs lowered the 12-month target price of the KOSPI index from 12,000 points to 9,000 points.

According to the news, the Shanghai Stock Exchange's revised Shanghai Stock Exchange's comprehensive index preparation plan was implemented on October 26, adding an upper limit rule where the weight of a single sample does not exceed 15%.

Popular sector aspects

1. [Oil and gas] In Shenwan's second-tier industry, oil service engineering rose 3.38%, while petroleum and petrochemical rose 2.41%. CNPC rose 4.94% to 13.38 yuan, with transactions of 2,946 billion yuan, CNOOC up 4.27%, Sinopec up 3.54%, CNOOC Services up 7.23%, CNOOC Engineering up 5.95%, and CNOOC Development up 4.08%. Catalysis comes from the rise in European gas prices to the highest level since 2022. Norway's Gassco announced an unplanned shutdown of the Troll gas field from October 25 to 26, affecting 6.1 million cubic meters per day.

2. [Pharmaceutical Business] Pharmaceutical business rose 2.73%, Intel Group and Celi Medical rose and stopped, Baiyang Pharmaceutical rose 10.62%; Pharmaceutical Biotech rose 0.79%, and innovative drug concepts rose 0.23%. According to the news, the 2026 European Society of Medical Oncology (ESMO) Annual Meeting was held in Madrid from October 23 to 27. Twenty-nine studies related to Chinese pharmaceutical companies were selected for the latest breakthrough summary, accounting for about one-third of the total number of LBAs at the conference.

3. [Robotics and Physical AI] The humanoid robot concept closed down 0.81%. Within the concept, multiple stocks rose and stopped: Huayang Smart 20CM rose and stopped in 3 consecutive boards (opening and closing price, backlocked after intraday opening), Shangwei New Materials and Pan-Asia Micro both rose and stopped at 20CM, Fulai New Materials, Molding Technology, Fenglong Co., Ltd., Wanxiang Qian rose and stopped; Safutian, Zhengyu Industrial, Duolun Technology, and Xiangyang Bearing all rose and stopped at 3 times. The physical AI concept rose 1.80%, and Yushu Technology rose 7.692% to report a 7.692% increase.. The catalyst came from the 2026 Global Developer Pioneer Conference and International Embodied Intelligence Skills Competition held in Shanghai from October 23 to 25. Zhiyuan organized an expedition of 110 A3 full-size humanoid robots to dance in a group, setting a Guinness World Record for the most humanoid robots dancing at the same time.

Adjust the section

Components fell 6.79%, glass and glass fiber fell 5.40%, electronic chemicals fell 4.33%, and precious metals fell 4.27%. Communications equipment fell 3.67%, semiconductors fell 3.55%, copper-clad plate concepts fell 9.35%, and MLCC concepts fell 4.33%; in individual stocks, Huazheng New Materials, Aohong Electronics, and Oshcon fell 9.52%, Hengtong Optoelectronics fell 8.14%, Changfei Optical Fiber fell 7.73%, and Chifeng Gold hit a halt and closed down 8.90%. The decline in precious metals corresponds to spot gold falling below 4,000 US dollars/ounce last Friday and falling below 3,980 US dollars/ounce in the Asian market on October 26. The components sector fell back to 16697.79 points from 21271.36 points on October 8, a range decline of 21.50%.