A-share review | GEM index rushed higher and fell 2.44%, Science and Innovation 50 bucked the trend and rose 0.73%

The Zhitong Finance App learned that on November 12, the three major A-share indices collectively opened low, then rushed higher and fell in the afternoon. At the close, only Science Innovation 50 rose. The Shanghai Stock Exchange closed at 3655.83 points, down 0.67%; the Shenzhen Securities Index closed at 11197.98 points, down 1.68%; the GEM index closed at 2509.43 points, down 2.44%; Science and Technology Innovation 50 closed at 1309.84 points, up 0.73%; and the Beijing Stock Exchange 50 closed at 908.07 points, down 1.65%. The turnover of the Shanghai and Shenzhen markets was 1932,077 billion yuan, an increase of 255.798 billion yuan compared to the previous trading day. In the entire market, 875 stocks rose, 4,635 fell, 70 were flat, 37 were up and down, and 6 stocks were up and down, accounting for 15% of the increase.

In terms of sectors, fishery, ground armaments, aquaculture, beverages and dairy products, advertising and marketing, and semiconductors registered the highest gains; precious metals, film and television, gaming, media, communications, and non-ferrous metals registered the highest declines.

Drivers

On the same day, the highest report of Science and Innovation 50 was 1364.88 points, a corresponding increase of 4.96%, and the closing increase narrowed to 0.73%; GEM had the highest intraday increase of 1.87%, closing down 2.44%; and the turnover of the Shanghai and Shenzhen markets increased to 1.93 trillion yuan. The semiconductor industry chain surged higher in early trading, and the sector index rose to an intraday high of 5.55%. Recent news includes Alibaba's announcement on the Hong Kong Stock Exchange on the evening of November 10 that it plans to split its wholly-owned subsidiary Pingtou Ge to go public independently on the main board. Pingtou has submitted a listing application in a confidential form on September 11, 2026; the quarterly report released by SEMI on November 4 shows that global silicon wafer shipments increased 13.4% year-on-year in the third quarter.

The direction of precious metals is under pressure from international gold prices. Spot gold fell below 4,000 US dollars/ounce and closed at 3987.24 US dollars in the early morning of November 12, Beijing time. The market has fully absorbed the expectations of the Federal Reserve's interest rate hike of 25 basis points in December, and the 10-year US bond yield recently rose to the 5% mark. The banking sector closed up 0.36% and the Industrial and Commercial Bank rose 1.88%. On the evening of November 11, ICBC, Agricultural Bank, and China People's Insurance Company announced that their A share increase application was reviewed and approved by the Shanghai Stock Exchange. The monetary policy implementation report for the third quarter of 2026 released by the central bank on November 11 suggests stepping up the implementation of two monetary policy tools to support the capital market and making good use of the convenience of large redemptions and swaps between non-banks in the bond market.

Popular sector aspects

[Computing power chip] The semiconductor sector index closed up 0.55%, and Science Innovation 50 became the only major index to rise on the same day. Tianpu Co., Ltd. rose and stopped for 3 consecutive days (+10.00%). Suiyuan Technology rose 13.13% and hit a new high since listing. Cambrian rose 8.11%, and Haiguang Information rose 3.07%. The catalyst was Alibaba's announcement on the evening of November 10 that it plans to split Pingtouge and go independent for listing in Hong Kong. As of April 2026, Pingtou Ge had shipped 560,000 pieces of Zhenwu series AI chips and served more than 650 enterprise customers; the SEMI November 4 report showed a 13.4% year-on-year increase in global silicon wafer shipments in the third quarter.

The [Ground Armament] sector index closed up 3.48%, ranking the second highest increase in Shenwan's second-tier industry, and was the direction of a few bucking the trend on the same day. The first board of the Great Wall military industry rose and stopped (+10.02%); Northern Changlong rose 11.45%; Hunan Tianyan rose 4.23%; and the construction industry rose 1.93%. Individual stocks in the military restructuring concept strengthened collectively, and there were no new announcements or policy disclosures from public sources within the sector on the same day.

The [Fisheries] sector index closed up 3.56%, ranking first in Shenwan's second-tier sector growth. Haodangjia rose and stopped (+10.22%), Oriental Ocean rose and stopped (+10.02%, recorded 10 gains and stops within 17 trading days), Baiyang shares rose and stopped (+9.98%), and Zhangzi Island rose 2.67%. No new industry policies or announcements were disclosed in this direction on the same day, and individual aquaculture stocks were partially linked.

Adjust the section

The precious metals sector index closed down 6.85%, leading the decline in Shenwan's second-tier industry. Shanjin International fell 9.31%, Chifeng Gold fell 8.32%, Western Gold fell 6.71%, and Shandong Gold fell 6.53%. The sector had a cumulative increase of 16.97% from November 3 to November 11, with the highest decline on the same day.

The film and television cinema sector index closed down 5.36%, Shanghai Film fell to a standstill (-9.99%), and Huace Film and Television fell 13.97%. Cultural Investment Holdings closed down 1.59% after hitting an intraday rise and fall. The sector recorded a cumulative increase of 13.72% from October 15 to November 11. The gaming sector index closed down 4.89%, while the telecommunications and non-ferrous metals sector indices all closed down 3.01%.