On the first trading day after the National Day holiday, A-shares fluctuated and adjusted. The SSE Composite Index briefly fell below the key level of 3800 points, hitting a low of 3795.37 points, and finally closed at 3811.90 points, down 0.79%. The Shenzhen Component Index also dropped 2.07%, and the ChiNext Index plunged 3.15%. The total turnover of the Shanghai and Shenzhen stock markets reached 1.68 trillion yuan (RMB, same below), an increase of 244.1 billion yuan or 17% compared to the previous trading day.

　　On the market front, oil stocks rose against the trend, with the sector index closing up 3.2%. Sinopec (SSE:600028) rose 3.8%, and PetroChina (SSE:601857) gained 3.4%. WTI crude oil futures prices rose 3.04% today to $90.961 per barrel; Brent crude oil futures prices rose 3.29% to $103.500 per barrel. Increasing incidents of shipping attacks in the Gulf region and the Strait of Hormuz have kept market concerns over Middle East supply disruptions alive; at the same time, the U.S. has cut production due to hurricane threats to its offshore oil and gas operations.

　　On the downside, rumors circulated online that the U.S. Federal Communications Commission (FCC) plans to restrict Chinese optical modules, coupled with previous market rumors of pricing pressure on optical chips, leading CPO-related stocks to lead the decline. Younian Technology (SSE:688498) fell 20%, and Changguang Huaxin (SSE:688048) dropped 20%. The semiconductor industry chain weakened overall, with Simrise (SSE:688536) plunging 14.4% and Naxinwei (SSE:688052) closing down 11.2%.

　　Notably, Citigroup's latest research report suggests that due to challenges such as potential trade slowdowns, worsening property sector drag, and accelerated deleveraging, China may be forced to "maintain 4%" growth (i.e., maintain economic growth above 4%) by 2027. The bank expects China's growth rate to slow to 4.1% next year. (ry)
 

Table of Main Indices in Shanghai and Shenzhen Stock Markets

	Close (points)	Change (%)	Trading Value (billion RMB)
SZSE 300	4310.28	-1.09
Shanghai Composite Index	3811.90	-0.79	8111.83
Shenzhen Component Index	12620.90	-2.07	8709.44
ChiNext Index	3036.66	-3.15
STAR 50	1456.32	-4.82
B Share Index	309.19	+0.86	1.42
Shenzhen B Index	1154.28	-0.63	0.58