The three major indices of the Shanghai and Shenzhen A-shares rose by 0.6% to nearly 2% throughout the day, with China Life rising over 4% and robotics concept stocks performing well

The Fourth Plenary Session was held today (20th). The mainland's GDP for the third quarter grew by 4.8% year-on-year, and the GDP for the first three quarters increased by 5.2% year-on-year, both exceeding expectations. As for the key economic data from the three main drivers, the results were mixed: in September, industrial production above a designated size increased by 6.5% year-on-year, surpassing expectations; the total retail sales of consumer goods increased by 3% year-on-year, in line with expectations; fixed asset investment decreased by 0.5% year-on-year, while an increase of 0.1% was expected. The one-year Loan Prime Rate in China remained unchanged at 3%, and the five-year rate remained at 3.5%. In September, among 70 large and medium-sized cities in the mainland, the sales prices of commercial residential properties in various cities fell month-on-month, with the year-on-year decline continuing to narrow.

The People's Bank of China today conducted a seven-day reverse repurchase operation in the open market amounting to 189 billion yuan (same below), with the operation rate remaining at 1.4%. Additionally, 253.8 billion yuan in reverse repos matured, resulting in a net withdrawal of 64.8 billion yuan for the day. The central parity rate of the yuan against the US dollar was lowered by 24 points to 7.0973.

The three major indices of A-shares opened high, rising between 0.7% and 2.5%, and maintained an upward trend throughout the day, closing up 0.6% to nearly 2%. The Shanghai Composite Index closed at 3,863 points, up 24 points or 0.6%, with a turnover of 772.5 billion yuan; the Shenzhen Component Index rose 124 points or nearly 1%, closing at 12,813 points, with a turnover of 965.1 billion yuan; the ChiNext Index increased by 58 points or nearly 2%, closing at 2,993 points, with a turnover of 435.09 billion yuan.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) fell slightly by 0.1%, while China Construction Bank (601939.SH) rose by 0.3%. China Life (601628.SH) increased by 4.1%, with the company expecting a profit increase of 50% to 70% year-on-year for the first three quarters. Additionally, CATL (300750.SZ) rose by 2.3%. BYD (002594.SZ) increased by nearly 0.1%.

Robot concept stocks performed well, with Huarui (300626.SZ) and Finework (301232.SZ) hitting the daily limit, and Zhuhai Guanyu (688772.SH) rising over 11%. In news, UBTECH won the bid for the "Guangxi Embodied Intelligent Data Collection and Testing Center Equipment Procurement and Installation" project, with an order amount of 126 million yuan.

Gold mining stocks generally fell, with Zijin (601899.SH), Shandong Gold (600547.SH), Chifeng Gold (600988.SH), and Jin Gold (600489.SH) dropping between 1.4% and 6.8%. Zhou Dasheng (002867.SZ) and Lao Feng Xiang (600612.SH) each closed down by 1.7%.

Among leading chip stocks, SMIC (688981.SH) rose by 0.5%. Hua Hong (688347.SH) fell by 0.5%. In the tech sector, Cambricon (688256.SH) increased by 2.7%, with the company reporting a year-on-year revenue growth of 23.86 times to 4.6 billion yuan for the first three quarters, and a net profit of 1.6 billion yuan, compared to a loss of 725 million yuan in the same period last year. Wingtech Technology (600745.SH) indicated that the Anshi China team would take independent self-rescue actions, with the company's production and operations proceeding as usual, while its stock price fell by 1.5% GoerTek Inc. (002241.SZ) terminates HKD 10.4 billion acquisition of Lianfeng Commercial's two subsidiaries, stock price drops 2.5%