A shares surge in post-holiday morning trade

The A shares of the three principal stock indexes had a significant increase in early trading, with activity on the Shanghai and Shenzhen exchanges surpassing 1 trillion yuan (US$141 billion) just 20 minutes after the market opened.

Shanghai and Shenzhen's half-day turnover was 24,801 billion yuan. The Shanghai index jumped 4.81 percent to 3,496.82 points, while SZCI was up 8.25 percent to 11,398.95 points.

It is noteworthy that the semiconductor sector had a collective surge, with Semiconductor Manufacturing International Corporation (SMIC), Fudan Microelectronics, Huahong, Advanced Micro-Fabrication Equipment Inc China (AMEC), and 26 additional stocks rising.

Recent A-share market strength has boosted investor confidence. Since September 24, incremental initiatives have raised the Shanghai Composite Index 20 percent and the Shenzhen Component Index 29 percent. Shanghai and Shenzhen markets traded a record 2.6 trillion yuan on September 30.

Various securities companies launched 24-hour account opening and consultation services throughout the National Day holiday, resulting in a record number of account openings.

According to Haitong Securities data, the number of account consultations increased more than fivefold, password recovery consultations increased by sixfold, account opening consultations increased by fourfold, and questions about financing and securities financing increased by more than twofold.

According to Goldman Sachs' latest analysis, the Chinese stock market is "overweight," as recent stimulus measures have boosted confidence, Chinese equities' valuations are below historical averages, and earnings are expected to further improve.

Goldman Sachs has raised MSCI China's target price from 66 to 84 and the CSI 300 index target price from 4,000 to 4,600 points, believing China's stock market has more upside.