A-shares midday review: The ChiNext Index opened lower and then rose to close up 0.85% at midday, with power grid equipment and biopharmaceutical sectors leading the gains.

The three major A-share indices rose collectively in the early trading session. By midday, the Shanghai Composite Index increased by 0.25%, the Shenzhen Component Index by 0.8%, the ChiNext Index by 0.85%, and the Beijing Securities 50 Index by 0.4%. The combined half-day trading volume of the Shanghai, Shenzhen, and Beijing markets was 13,974 billion yuan, down 1,643 billion yuan from the previous day. Over 4,400 stocks in the entire market rose.

In terms of sectors and themes, the top gainers included pork, epoxypropane, agrochemical products, power grid equipment, biopharmaceuticals, chemical fibers, innovative drugs, brain-computer interfaces, tourism, and hotels. The biggest declines were seen in oil and gas exploration and services, coal mining and processing, gas, MicroLED concepts, port shipping, banking, and cultivated diamonds.

On the market, the ongoing logic of electricity shortages in the U.S. continued to drive the power grid equipment sector higher, with Shun Na Shares and Han Cable Shares hitting three consecutive daily limit-ups. The government work report emphasized promoting high-quality development of innovative drugs and medical devices, leading to a collective rally in the healthcare and innovative drug sectors, with stocks like Selic Medical, Wanze Shares, and Zhongyuan Xiehe hitting the daily limit. Additionally, sectors such as pork, chemicals, and domestically-produced aircraft carriers experienced intraday lifts.

On the other hand, news regarding the blockade of the Strait of Hormuz fluctuated, causing the oil and natural gas, and coal mining and processing sectors to oscillate and retreat. Stocks such as Sinopec Oilfield Service, Zhongman Petroleum, Shaanxi Black Cat, and Yankuang Energy declined.