On October 9, the Shanghai Composite Index opened 0.20% lower at 3,804.09 points, the Shenzhen Component Index opened down 0.51% at 12,557.02 points, and the ChiNext Index opened 0.50% lower at 3,021.33 points.

The STAR 50 opened down 1.00% at 1,441.72 points. As of 9:40 a.m., 972 stocks in the Shanghai and Shenzhen markets were advancing, 4,444 were declining, and 157 were flat.

The top gainers were in precious metals, publishing, coal mining, shipping ports, cosmetics, and film and cinema chains, while the top laggards were in semiconductors, electronic chemicals, communications equipment, building materials, and glass and fiberglass.

As of 9:40 a.m., the indexes extended their losses after opening lower, with the Shanghai Composite down 0.67% at 3,786.55 points, the Shenzhen Component down 1.27% at 12,460.32 points, the ChiNext Index down 1.46% at 2,992.38 points, and the STAR 50 down 2.28% at 1,423.16 points.

Structurally, defensive sectors and growth sectors showed clear divergence. Precious metals rose 1.72%, batteries gained 1.31%, coal mining added 0.84%, while home appliances, insurance, and publishing edged higher. Semiconductors fell 2.45%, communications equipment dropped 2.18%, and electronic components, optical modules, and electronic chemicals weakened in tandem.

There were 15 stocks hitting the daily limit up and 3 hitting the daily limit down, with advancers accounting for about 17% of the market, as decliners outnumbered gainers at the individual stock level and trading volume showed no effective expansion.

Overnight news at a glance: Middle East tensions sent oil prices surging, with U.S. and European stock markets falling broadly as repeated U.S.-Iran tensions pushed international oil prices up more than 5% at one point, heightening market concerns over inflation and long-term interest rates. The Foreign Ministry announced that French President Emmanuel Macron's diplomatic adviser Emmanuel Bonne will visit China from October 9 to 13 for a new round of China-France strategic dialogue with Wang Yi, director of the Office of the Central Commission for Foreign Affairs. The central bank released its policy stance on the RMB exchange rate, with the People's Bank of China issuing a statement on October 8 clarifying that it does not preset target levels for the exchange rate and does not intervene in long-term exchange rate trends, maintaining exchange rate flexibility and two-way fluctuations, and saying there is no need and no intention to gain trade competitive advantages through currency depreciation. Fiscal and industrial policies were rolled out intensively, with the Ministry of Finance issuing 150 billion yuan of special treasury bonds for central financial institution capital injection on October 8, with a coupon rate of 1.37%, accruing interest from October 9. The Ministry of Industry and Information Technology and six other departments released a plan for the development of the new battery industry during the 15th Five-Year Plan period, the first national-level special plan for the battery sector.

Trend assessment: On the previous trading day, A-shares opened higher but fluctuated lower, with the Shanghai Composite closing down 0.79% at 3,811.90 points, the Shenzhen Component falling 2.07%, and the ChiNext Index dropping 3.15%, as optical chips, optical communications, semiconductors, and other computing hardware directions led losses, while oil and gas, batteries, and shipping strengthened against the trend. Today's opening continued the structural divergence, with low-position directions such as precious metals and publishing active, while technology growth directions such as semiconductors and communications equipment remained under pressure. The STAR 50 opened 1.00% lower, the weakest among the four indexes, and its losses widened further after the open. Institutions believe that after short-term factors are digested, the market may see a recovery rally after the holiday, and October A-shares will enter a period of earnings verification. In the short term, the index may remain range-bound and differentiated, and attention should be paid to whether trading volume can continue to recover.