Turnover below 1.5 trillion yuan; Cailian Press watches for a recovery after sentiment hits a low
On 27 October, the index opened higher and then declined, with short-term sentiment falling alongside it in the afternoon. Cailian Press expects divergence may intensify further the following day and is watching the timing of funds returning to the robotics sector, while tracking companies associated with physical AI and silicon photonics.
Original source：财联社First published on Unhidea：Original source date：
Key takeaway
Cailian Press believes market divergence may persist until 28 October. The strength of the recovery after sentiment bottoms out and the timing of funds returning to robotics will affect the short-term assessment.
Why might market sentiment reach a low?
On 27 October, the index continued to fall after opening higher and accelerated its decline in the afternoon. Turnover for the day was below 1.5 trillion yuan; Cailian Press regards 1.5 trillion yuan as a dividing line for trading volume.
Short-term sentiment remained healthy in the morning but fell alongside the index in the afternoon: none of the stocks that had posted 2 consecutive daily gains at the price limit the previous day advanced to another limit-up, and some leading strong stocks saw increased volume near the close. Cailian Press believes the divergence, which might otherwise have been resolved that day, was extended across two trading sessions.
The outlet expects the divergence on 28 October may coincide with another brief low in sentiment, followed by a recovery; if the index continues to weaken, funds may also step in to support the market.
What should investors watch in a return of funds to robotics and in consumer stocks?
Cailian Press continues to regard robotics as the main area for offensive positioning. Divergence in the sector had previously been limited and began to intensify on the afternoon of the 27th; the outlet is watching for funds to return after divergence has fully played out the following morning, as well as for stocks that remain strong.
In the outlet’s view, if funds return on 29 October rather than on the afternoon of the 28th, the timing may be more favorable for the sector’s performance; an excessively rapid return could limit the strength of the recovery.
Consumer stocks were the day’s bright spot. Cailian Press believes Shanghai Jiubai’s reopening from its price limit near the close was not necessarily a bad thing, as it could help temper expectations of a consensus the following day; funds also shifted toward defensive positions in the afternoon, with dividend stocks led by banks trading higher amid fluctuations.
What business progress have physical AI-related companies made?
Guangyang is developing robot bearings, joint modules and complete robot manufacturing. Its robotics business generated revenue of nearly ten million yuan in the first half; crossed roller bearings and reducers have been supplied in small batches, while joint modules jointly developed with LimX Dynamics have already been shipped in volume.
Guangyang has also secured designated projects in steer-by-wire chassis and EMB brake-by-wire, including active-suspension reducers and EMB projects for new energy vehicles.
Guomai Technologies collects data on household tasks performed by robots and supplies it to model developers through a third-party platform. Cailian Press believes that student participation in data collection at its educational institutions and the real-world settings provided by senior living communities help obtain data containing tactile and environmental interaction information.
How is Yuexin Semiconductor’s silicon photonics business progressing?
At the end of 2024, Yuexin Semiconductor launched a 90nm silicon photonics process platform covering pluggable silicon photonics modules from 400G to 1.6T, with cumulative wafer starts exceeding 7000 wafers. The company is introducing an NPO solution for 3.2T and advancing research and development of 65nm silicon photonics and CPO processes.
Some major customers have signed capacity guarantee agreements, and some silicon photonics capacity has been reserved. Silicon photonics manufacturing requires optical structures to be integrated into standard CMOS production lines; yield and consistency affect downstream optical module production.
Cailian Press said Yuexin Semiconductor continued to weaken amid fluctuations on 27 October, but selling pressure had visibly lost momentum, and it was watching for a rebound the following day; the stock fell 3.19% that day.
