This week, the market showed a trend of rising and then falling, with the Shanghai Composite Index down 0.86%, the Shenzhen Component Index down 2.96%, the CSI 300 Index down 1.37%, the ChiNext Index down 4.44%, and the STAR 50 Index down 3.42%. Recently, the external market has been quite volatile, with geopolitical factors continuing to ferment. Some funds, considering external risks during the Qingming holiday, chose to wait and see, leading to a decrease in trading volume in both markets.
For the market next week, industry insiders believe that as trading volume decreases, investors should pay attention to controlling their positions to avoid blindly chasing highs. While keeping an eye on changes in news, they can continue to track the movements of sectors such as communication equipment, diversified finance, and semiconductors.
Shanghai Index Relatively Resilient
This week, the market showed a trend of rising and then falling. The Shanghai Composite Index reached a high of 3955.94 points on Wednesday, closing the gap left by the decline on March 23. Affected by geopolitical factors, international crude oil futures prices rebounded sharply, causing significant fluctuations in the external market, and the A-share market also adjusted. This week, the Shanghai Composite Index fell 0.86%, performing relatively well among major indices.
The CSI 300 Index fell 1.37% this week. According to Tonghuashun data, among the constituent stocks of the CSI 300 Index, the top 10 gainers this week were China Merchants Energy Shipping, Yutong Bus, Kanglong Chemical, Zhongtian Technology, Yun Aluminum, Huayu Automotive, Baillie Tianheng, Dongshan Precision, Hengli Hydraulic, and Huqin Technology; on the decline list, the biggest losers included Sungrow Power Supply, JinkoSolar, Eve Energy, JA Solar, Huadian New Energy, Anker Innovations, Guoxuan High-Tech, Canadian Solar, Huadian International, and OmniVision Technologies.
Statistics show that from Monday to Friday this week, the trading volumes of the two markets were 1.9159 trillion yuan, 1.9926 trillion yuan, 2.0125 trillion yuan, 1.8430 trillion yuan, and 1.6565 trillion yuan, respectively. The reporter noted that on Friday, the trading volume of the two markets was less than 1.7 trillion yuan, the last time the trading volume fell below 1.7 trillion yuan was on October 22, 2025, when the trading volume was only 1.6678 trillion yuan.
Communication Sector Up Over 3% This Week
From the performance of industry sectors (Shenwan first-level industries) this week, communication, pharmaceuticals and biology, food and beverages, and banking sectors led the gains, with weekly increases of 3.02%, 2.26%, 0.87%, and 0.69%, respectively; on the decline list, utilities, electrical equipment, real estate, coal, and environmental protection sectors had the largest declines.
The communication sector rose over 3% this week, with individual stocks such as Yangtze Optical Fibre, Huyuan Communication, Sanwang Communication, Yongding Co., Ltd., Dekeli, TeFa Information, Hengtong Optic-Electric, Dingtong Technology, Guangku Technology, Zhongci Electronics, Zhongtian Technology, Shijia Technology, Tongding Interconnection, Tongyu Communication, and Changjiang Communication all seeing weekly increases of over 10%. Among them, Yangtze Optical Fibre surged 28.53% in a week, ranking first.
In terms of news, UBS's latest research report cited data from industry research institution CRU, indicating that the price of G652.D bare optical fiber in Europe reached 7.94 euros per fiber kilometer (approximately 9.1 USD) in March, up 136% from January and up 159% year-on-year
China Galaxy pointed out that the recent price increase in optical fiber and cable is mainly driven by three emerging demands: first, the interconnection demand brought about by the large-scale construction of AI data centers; second, the rapid expansion of special application scenarios such as optical fiber drones; and third, the export demand resulting from the continuous expansion of the overseas infrastructure market. These demands are substantial, and the product structure is evolving towards high-end and specialized products, which may lead to a structural transformation in the optical fiber industry.
It is worth mentioning that the banking sector has shown strong growth this week. In terms of individual stocks, Agricultural Bank of China, Bank of China, Xiamen Bank, Huaxia Bank, Qingdao Bank, and Shanghai Rural Commercial Bank all saw weekly increases of over 2%.
Pay attention to changes in news
For the post-holiday market, industry insiders believe that as trading volume in both markets decreases, investors should pay attention to controlling their positions and focus more on changes in news.
Zhongyuan Securities believes that in April, the A-share market may mainly experience fluctuations, and investors can focus on the themes of dividend defense and energy security. The core variable of the A-share market remains the uncertainty of the Middle East situation, which limits the upward space of the index. It is recommended that investors adopt a prudent allocation strategy, maintaining dividend assets (banks, transportation, public utilities) to withstand volatility while laying out in energy security-related fields (such as power equipment and lithium batteries and photovoltaics in new energy).
Huatai Securities stated that in recent years, with the rise of global macro uncertainty and the growing demand for domestic residents' asset allocation, dividend strategies have increasingly attracted capital attention; currently, dividends are at a relatively low valuation compared to growth, and the Middle East situation disrupts market risk appetite, making dividends still possess underlying value.
Guotai Haitong is optimistic about the development potential of MicroLED optical communication. MicroLED is penetrating from the display field into optical communication, breaking the limitations of traditional laser solutions and copper connections, with significant advantages in power consumption, reliability, cost, and transmission distance. More products are expected to be launched in 2026, with gradual mass production starting in 2027 and 2028, and the potential market space is expected to exceed $10 billion. Upstream components such as MicroLED chips, upstream equipment, and midstream packaging and testing manufacturing links are expected to benefit, and the domestic industrial chain may welcome significant development opportunities.
An analyst from Huaxin Securities told the &#34;Securities Times&#34; reporter: &#34;Given the various uncertainties in the external market during the Qingming holiday, many funds have recently chosen a wait-and-see strategy. Considering that the current market is still a game of existing funds, investors should pay attention to controlling their positions and avoid blindly chasing highs. While paying attention to changes in news, they can continue to track the trends in sectors such as communication equipment, diversified finance, and semiconductors.&#34;
Reporter: Tang Xiaofei

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This week, the market showed a high and then a pullback, with the Shanghai Composite Index falling by 0.86% and the Shenzhen Component Index dropping by 2.96%. Affected by geopolitical factors, market trading volume decreased, and investors should control their positions. The telecommunications sector rose against the trend by over 3%, while sectors such as pharmaceuticals and food and beverages also performed well. On Friday, the trading volume of the two markets was less than 1.7 trillion yuan, marking the first time since October 2025

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China Southern Shenzhen Stock Exchange Component Stock ETF

China Universal SSE Composite ETF

Dacheng SZSE Component ETF

Fullgoal SSE Composite ETF

Guotai SSE Composite ETF

The market declined with reduced volume, while the communication sector surged against the trend. Pay attention to changes in news due to disturbances from geopolitical factors