A-share closing review | The Shanghai Composite Index closed up 0.16%, with three major positive factors triggering a surge in the semiconductor sector.

Today, the market was volatile and differentiated. The ChiNext Index adjusted slightly, the semiconductor sector was strong, and the Sci-Tech Innovation 50 Index rose nearly 4%. The market's total turnover was nearly 2.6 trillion, slightly lower than the previous trading day, with over 3200 stocks in both markets rising. Analysts believe that there are three major positive factors driving the strength of the semiconductor sector: First, the release of DeepSeek-V4, which showed good performance last Friday; second, the continuous strengthening of domestic substitute logic; and third, the improvement in industrial prosperity, as evidenced by the performance of Moore's Law and the Philadelphia Semiconductor Index. In other hot spots, the CPO concept was volatile and rising, with Dongguan Mentech Optical & Magnetic hitting the limit up; the PCB concept was active, with Shandong Fiberglass Group Corp. and Shenzhen Kinwong Electronic hitting the limit up; the lithium battery industry chain was active, with XIZANG ZHUFENG RESOURCES and Veken Technology both hitting 2 consecutive limit ups. Looking ahead, China Securities Co., Ltd. believes that the negotiations between the US and Iran are currently in a stalemate, with oil prices fluctuating and returning to above 105 US dollars. Although this will continue to be a source of market disturbance, the tail risk of the situation spiraling out of control is relatively limited. The A-share market is also relatively insensitive to geopolitical fears. The performance of the AI computing power sector is causing some disturbance, but overall, it is still a rare high prosperity direction. In terms of individual stocks, there were 3284 gainers, 2105 decliners, and 121 with unchanged prices in both markets. There were a total of 85 stocks hitting the limit up and 54 hitting the limit down. At the close, the Shanghai Composite Index rose 0.16% to 4086.34 points, with a turnover of 1.1361 trillion yuan; the Shenzhen Component Index rose 0.37% to 14995.75 points, with a turnover of 1.4534 trillion yuan. The ChiNext Index fell 0.52% to 3648.79 points. Funds Flow Today, main funds focused on glass semiconductors, consumer electronics, components, and other sectors. Among the top net inflows were Luxshare Precision Industry, Shenzhen Sunway Communication, NAURA Technology Group, among others. News Review 1. China Academy of Information and Communications: In March, domestic market mobile phone shipments decreased by 7.1% year-on-year, while 5G phone shipments increased by 1.3% year-on-year The China Academy of Information and Communications released data showing that in March 2026, the domestic market saw 21.15 million mobile phone shipments, a 7.1% decrease year-on-year, with 19.67 million 5G phones shipped, a 1.3% increase year-on-year, accounting for 93.0% of the total phone shipments during the same period. In March 2026, domestic brand mobile phone shipments were 17.787 million, a 14.8% decrease year-on-year, accounting for 84.1% of total phone shipments during the same period. In March 2026, smartphone shipments were 20.087 million, a 6.3% decrease... (translation truncated)