Midday Review: In the morning, the A-share market continued to rise, with the ChiNext Index soaring by 2%, leading the two markets, and the Shanghai Composite Index breaking above the 20-day moving average. Will the rise of A-shares continue in the afternoon? Is there a risk of a pullback after hitting a high?

The F5G concept led the gains, with the communication services and securities sectors seeing the largest increases. The hot topics leading the morning included the F5G concept, with封装光学, communication equipment, terahertz, optical fiber concepts, 6G concepts, copper cable high-speed links, commercial industries, securities, satellite navigation, WIFI6 concepts, photolithography machines, etc. being among the top gainers in the morning. Among them, the F5G concept rose by more than four points, leading the two markets. From the top gainers, it is not difficult to see that sectors concentrated in technology themes such as communication equipment, software development, semiconductors, and components are the main direction of the A-share market's rise today. In addition, the securities sector continued the upward trend from last week, with the securities sector rising by more than two points in the morning, and industry leaders such as CITIC, Dongcai, and Guotai all recorded increases of over three points. At this stage of the A-share market, the strong rise of brokerage stocks undoubtedly can better drive the rise of the A-share market; the greater the increase in brokerage stocks, the greater the hope for the A-share market to return to a bull market.

The two major stock indices in the Shenzhen market continued to lead the gains, with the ChiNext Index rising by over 70 points and exceeding 2%. In the morning, the two major stock indices in the Shenzhen market remained the largest gainers among the four major indices, with the ChiNext Index once rising by over 70 points and exceeding 2%, leading the two markets. As of now, both major stock indices in the Shenzhen market have stood above the 20-day moving average, and there is hope for further strength above the 20-day moving average. From the information on the market, blue-chip stocks in the ChiNext Index continue to be the main driving force behind the rise; companies like Zhongji Xuchuang, Xin Yisheng, Shenghong Technology, Tianfu Communication, and Jiangbolong, all having a market value of over 100 billion, have seen increases of more than five points, with Tianfu Communication once rising by 18% during trading, approaching the daily limit. For these doubling bull stocks, I still do not recommend chasing them; if you want to chase, it should be early. Chasing after they have doubled or even tenfold entails risks that far exceed potential returns.

The Shanghai Composite Index opened high and rose, standing above the 20-day moving average, with a transaction volume of 500 billion. Driven by the continuous rise of financial stocks, the Shanghai Composite Index showed an upward trend in the morning, rising more than 20 points during the session; after two weeks, the Shanghai Composite Index has once again stood above the 20-day moving average. In addition, the transaction volume in the Shanghai market also broke 500 billion in the morning, an increase of 100 billion compared to the same period of the previous trading day, and it is expected that today's transaction volume in the Shanghai market may exceed 800 billion. The Shanghai Composite Index, which has risen sharply, has already stood above the 20-day moving average, but to stabilize above the 20-day moving average, steady growth in volume is still needed. A transaction volume of 800 billion can help the Shanghai Composite Index stand above the 20-day moving average; a transaction volume of 900 billion or over 1 trillion will help the Shanghai Composite Index stabilize above the 20-day moving average, breaking through 4000 points and even creating new highs for the year.