A-shares surged on Wednesday, with the Science and Technology Innovation 50 Index rising nearly 10%

China News Service, Beijing, November 4 (Reporter Chen Kangliang) China's A-shares surged in volume on Wednesday, the 4th, and all major stock indexes turned red. Among them, the ChiNext Index closed up more than 6%, and the Science and Technology Innovation 50 Index rose nearly 10%.

As of the close of the day, the Shanghai Composite Index reported 3,686 points, an increase of 2.16%; the Shenzhen Component Index reported 11,335 points, an increase of 4.22%; the GEM Index reported 2,544 points, an increase of 6.4%; the Science and Technology Innovation 50 Index reported 1,265 points, an increase of 9.92%. The total transaction volume of Shanghai and Shenzhen stock exchanges was approximately 2,037.7 billion yuan, with a volume increase of approximately 334.3 billion yuan compared with the previous trading day.

Guo Yiming, investment advisory director of Shaanxi Jufeng Investment Information Co., Ltd., said that the A-share market experienced a long-awaited surge that day. In particular, technology stocks performed brilliantly, the semiconductor industry chain exploded, and the transaction volume of the two cities increased significantly. An important reason for the market's strength is the recent introduction of a series of favorable policies by regulators, and the continued accumulation of positive factors, which has strongly boosted investor confidence.

On the news, the People's Bank of China announced on the 4th that it will lower the stock repurchase and holding re-lending interest rate by 0.25 percentage points to 1% from now on, and step up the implementation of the stock repurchase and holding re-lending policy. The policy supports 21 national banks and 5 systemically important city commercial banks. The support ratio is 100% and the period is 1 year, which can be extended according to the needs of the banks.

In terms of sectors, according to statistics from financial data service provider Oriental Fortune, the A-share semiconductor, components, and communication equipment sectors rose by 10.64%, 7.26%, and 5.72% respectively that day, ranking among the top gainers.