A-share markets closed mixed, with the SSE Composite Index up 0.12% at 3,735.37 points, the Shenzhen Component Index down 0.14%, and the ChiNext down 0.26%. Total turnover reached 1.46 trillion yuan (RMB, same below), up 18.6 billion yuan or 1.3% from the previous trading day. China's GDP grew 4.6% year-on-year in the first three quarters, with third-quarter GDP up 4.5% year-on-year, an improvement of 0.2 percentage points from the second quarter and above market expectations. Analysts noted that Beijing could achieve its full-year growth target of 4.5%-5.0% without making significant adjustments to its policy stance in the fourth quarter.

　　Additionally, the 2026 Financial Street Forum Annual Meeting opened yesterday in Beijing. PBOC Governor Pan Gongsheng revealed several upcoming policy measures, including establishing a liquidity support tool to address large redemptions by non-bank institutions, expanding the scope of institutions eligible for Standing Lending Facility, and using the open market overnight repo rate as the primary policy rate in the future. CSRC Chairman Wu Qing, speaking at the same event, said efforts must be made to maintain capital market stability, closely monitor domestic and international market dynamics, strengthen policy tool reserves, and remain highly vigilant against emerging risks such as leveraged products overseas linked to A-shares.

　　Analysts believe that although multiple policies were announced at the Financial Street Forum, their strength falls far short of the "September 24" measures. Current policy efforts are primarily stability-oriented, aiming to prevent overseas market risks from dragging down A-shares, rather than showing a strong intent to push markets to a new level.

　　By sector, robotics-related stocks performed strongly throughout the day, with the sector rising over 3%; AI application stocks led gains, with Hengxuan Technology (SSE:688608) and Changelong Precision (SZSE:300115) surging 20% to hit their daily limits. The Ministry of Commerce and eight other departments issued guidelines to accelerate technology-driven commerce, proposing to promote the application of new technologies such as AI, big data, IoT, and embodied intelligence in the commerce sector to expand domestic demand and drive consumption upgrades.

　　On the downside, shipbuilding led sector declines, down 2.9%; insurance and brokerage stocks followed, with Guotai Haigong (SSE:601211) falling over 4% for the day; coal and non-ferrous metal stocks also weakened collectively. (ry)

Major indices of Shanghai and Shenzhen stock markets

	Close (points)	Change (%)	Turnover (billion RMB)
SSE 300	4152.11	-0.54
Shanghai Composite Index	3735.37	+0.12	6999.70
Shenzhen Component Index	11801.29	-0.14	7561.43
ChiNext Index	2739.20	-0.26
STAR 50	1342.42	+1.00
B Share Index	297.30	-0.58	0.85
Shenzhen B Share Index	1162.30	-0.14	0.28