A-share reviews | Shanghai index rose 0.10%, more than 4,800 shares rose, and PV equipment rose and stopped rising

The Zhitong Finance App learned that on November 5, A-shares opened low and moved higher in the intraday period and then fell. The five major indices closed up collectively, but all fell below the highest point of the day. At the close, the Shanghai Stock Exchange Index rose 0.10% to 3689.91 points, the Shenzhen Stock Exchange Index rose 1.19% to 11471.09 points, the GEM index rose 0.87% to 2566.80 points, Science and Innovation 50 rose 1.68% to 1286.68 points, and the Beijing Stock Exchange 50 rose 1.79% to 910.07 points. The turnover of the Shanghai and Shenzhen markets was 2117.950 billion yuan, an increase of 802.56 billion yuan over the previous trading day, breaking 2 trillion yuan for the second consecutive trading day. 4,869 A-shares in the Shanghai and Shenzhen markets rose, 625 fell, and 84 were flat. Of these, 86 stocks rose or stopped, and none of them fell to a standstill. The rising individual stocks accounted for about 87% (excluding the Beijing Stock Exchange).

In terms of sectors, photovoltaic equipment, digital media, energy metals, precious metals, advertising and marketing, and film and television lines registered the highest gains; coal mining, communication equipment, components, petroleum and petrochemicals, shipping ports, and banks registered the highest declines.

driving factors

Overnight, the three major US stock indices collectively closed higher. The Dow Jones Industrial Index rose 3.03% to 53356.12 points, the S&P 500 rose 1.58% to 7688.62 points, and the Nasdaq Composite Index rose 1.44% to 25736.51 points. According to several mainstream US media forecasts, the Democratic Party took back control of both houses of Congress. International oil prices fell sharply during the same period. On November 4, the December contract for New York crude oil fell 8.29% to close at 88.12 US dollars/barrel, Brent's January contract fell 8.67% to close at 94.62 US dollars/barrel. Brent once fell 10% during the intraday period, hitting a minimum of 93.22 US dollars/barrel; COMEX gold futures rose 3.37% to 4073 US dollars/ounce. On the domestic side, according to data from the National Energy Administration, China added about 38.76 GW of PV installed capacity in the third quarter of 2026, an increase of about 38% over 28.06 GW in the same period in 2025.

On the market, the Shanghai Index opened 3646.57 points lower, corresponding to a drop of 1.07%, the opening price was the lowest in the whole day, then surged to 3701.59 points; the GEM index had a high of 2625.98 points, a corresponding increase of 3.19%, and the highest in the Science and Technology Innovation 50 session, with a corresponding increase of 5.03%. The closing gains narrowed to 0.87% and 1.68%, respectively. On the same day, coal mining fell 4.20%, communication equipment fell by 2.83%, components fell 2.40%, petroleum and petrochemicals fell 2.34%, shipping ports fell 1.73%, banks fell 0.59%, and the Shanghai index rose only 0.10%, while the Shanghai and Shenzhen markets rose by nearly 4,900 individual stocks. There was a clear gap between the increase in the index and the breadth of individual stocks.

Popular sector aspects

1. Photovoltaic equipment

Shenwan's photovoltaic equipment index rose 6.23%, ranking first in Shenwan's second-tier industry. BC battery concept rose 6.27% and HJT/HIT battery concept rose 5.72%; King Kong PV, Shichuang Energy, and Betley all rose and stopped by 20CM, while Hongyuan Green Energy, Junda shares, Zhongli Group, and Saiwu Technology rose and stopped, and Maiwei shares rose and stopped. On the catalytic side, after the Democratic Party took back both houses of Congress in the US midterm elections, Guojin Securities believes that tax incentives for industries such as photovoltaics, energy storage, wind power, and SOFC are expected to remain complete under the “Inflation Reduction Act” framework, medium- to long-term capital expenditure expectations for green power operators are consolidated, and US new energy installation expectations are expected to improve.

At the domestic level, data from the National Energy Administration shows that China added about 38.76 GW of new PV installations in the third quarter of 2026, an increase of about 38% over the previous year; the supply-side “anti-roll” policy is also in a closed loop — leading silicon companies agreed that the sales price should not be less than 43,000 yuan/ton in October, covering the energy consumption of silicon, silicon wafer energy consumption and components, and inverters, and the energy efficiency of inverters will be implemented on January 1, 2027. The “PV Manufacturing Industry Specification Requirements (Draft for Comments)” proposes to further raise the efficiency threshold for new construction and renovation capacity. Photovoltaic equipment became the only sector in Shenwan's second-tier industry with an increase of more than 6% on the same day.

2. AI comics and media

The Shenwan Digital Media Index rose 5.41%, film and television theaters rose 4.75%, and advertising and marketing rose 5.12%; Zhejiang Film went up and down and recorded 4 consecutive boards; JiTV Media, Ciwen Media, Bona Pictures, and Gravity Media rose and stopped; Mango Supermedia rose 9.27%; and Fushi Holdings rose and stopped 20CM. In terms of catalysis, QuestMobile data shows that in September, the total number of users of Hongguo's free skit reached 430 million, surpassing Doubao's 419 million, and the number of video users of short dramas increased from 10 million to 400 million in less than 3 years; Guojin Securities estimated that the minimum production cost for a single minute domestic AI comic was about 350 yuan, and the production cycle for a single part was reduced from about 90 days to about 10 days.

3. Precious metals and lithium batteries

The Shenwan Precious Metals Index rose 5.19%, energy metals rose 5.35%, and batteries 4.43%; Sichuan gold rose 9.55%, Chifeng gold rose 8.80%, Shenzhen and China A rose and stopped, and Shengda Resources rose and stopped. Both were two consecutive boards. The Ningde Era rose 4.42%, Ganfeng Lithium rose 6.27%, and Tianqi Lithium rose 5.03%. On the catalytic side, spot gold stood at 4110 US dollars/ounce, up 1.17% during the day, and COMEX silver futures reported 52.89 US dollars/ounce, up more than 1%; in the direction of lithium batteries, CITIC Securities pointed out in the 2027 strategic outlook that the overall boom in the lithium battery industry is expected to rise, energy storage economy continues to improve, and domestic and foreign demand resonates.

Adjust the section

In Shenwan's second-tier industry, coal mining fell 4.20%, communication equipment fell by 2.83%, components fell 2.40%, shipping ports fell by 1.73%, while in Shenwan's first-tier sector, petroleum and petrochemical fell 2.34%, banks fell 0.59%, and the dividend index fell 2.19%. In terms of individual stocks, CNPC fell 7.93%, China Coal Energy fell 6.59%, CNOOC fell 6.26%, China Shenhua fell 6.26%, Yankuang Energy fell 6.08%, and the Shaanxi coal industry fell 4.74%; in the direction of communications equipment, Zhongji Xuchuang fell 7.51%, Xinyi Shengsheng fell 5.54%, and Tianfu Communications fell 4.78%.

According to the news, New York crude oil and Brent crude oil futures fell 8.29% and 8.67% respectively on November 4, and Brent crude oil fell 10% during the session, directly suppressing the direction of oil and gas; coal also had supply-side disturbances. The Shanxi Provincial Energy Administration held a special conference on November 2 to increase coal production and supply, calling for strict implementation of the 17 new coal regulations and making every effort to promote the orderly resumption of coal production. On November 3, the price of 5,500 kilocalories of thermal coal at Qinhuangdao Port was 1,013 yuan/ton, down 2 yuan from the previous month. The dividend weights of banks and the like weakened at the same time, and the overall direction of high dividends Under pressure, the dividend index fell 2.19%; components and communication equipment rose 9.14% and 8.91% respectively on the previous trading day, with the highest decline on the same day.