On Thursday, A-shares rebounded strongly with increased volume, and the three major indices all closed higher. The Shanghai Composite Index closed at 3986.22 points, up 0.51%, briefly returning to 4000 points during the day; the Shenzhen Component Index rose 2.24% to 14309.47 points, and the ChiNext Index surged 3.78% to 3448.79 points, reaching its highest level since December 2021. The total trading volume of the Shanghai, Shenzhen, and Beijing markets was approximately 2,337.8 billion yuan, an increase of 190.3 billion yuan from the previous trading day, with nearly 4,000 stocks rising, indicating a clear warming of risk appetite.
Main Uptrend
The strongest themes of the day focused on batteries, energy storage, brokerages, and digital finance. The battery sector surged, directly catalyzed by a meeting on the power and energy storage battery industry jointly held by the Ministry of Industry and Information Technology, the National Development and Reform Commission, the State Administration for Market Regulation, and the National Energy Administration on April 9. The meeting advocated for continuous advancement of capacity warning controls, regulation of price competition, reduction of supplier account periods, strengthening product quality supervision, and addressing "internal friction and externalization," which the market interpreted as further implementation of "anti-involution" in the lithium battery industry. Meanwhile, the China Securities Regulatory Commission released opinions on deepening the reform of the ChiNext Board on April 10, proposing to set up a fourth set of listing standards, introduce a market-making mechanism, and optimize the ETF and options system, which also reinforced sentiment support for the growth and brokerage sectors.
Theme Spread
The concepts of digital currency and stablecoins were also active, which helped extend risk appetite. On April 10, the Hong Kong Monetary Authority announced the issuance of stablecoin issuer licenses to Circle Fintech Co., Ltd., and Hongkong and Shanghai Banking Corporation Limited, effective the same day. This development was regarded by the market as marking the official pre-operational stage of Hong Kong's compliant stablecoin system, which, in turn, heated up related digital finance themes.
Future Market Observation
Structurally, this rise does not seem to be a mere oversold rebound, but rather a "policy expectation recovery + high-visibility track inflow" resonance. The reform of the ChiNext Board has expanded the imagination space for the growth sector, while the "anti-involution" of batteries has improved the profit outlook of the new energy chain. Brokerages and digital finance played the role of sentiment amplifiers. However, the pullback in the precious metals and shipping port sectors also indicates that funds are shifting from defensive to offensive directions. Whether this trend can continue will depend on whether trading volumes can remain high and if policy catalysts continue to materialize.
The following multilingual SEO titles and Meta Descriptions were created based on verified facts: Shanghai Composite Index closed at 3986.22 points, Shenzhen Component Index up 2.24%, ChiNext Index up 3.78% reaching its highest level since December 2021; four departments held a symposium on the power and energy storage battery industry to promote "anti-involution"; CSRC released opinions on deepening the ChiNext reform; HKMA issued the first batch of stablecoin issuer licenses.
