On April 11th, the stock market indices in both markets showed a divergence in performance. By midday, the Shanghai Composite Index reported at 3,038.58 points, up by 0.37%, the Shenzhen Component Index reported at 9,313.87 points, up by 0.17%, and the ChiNext Index reported at 1,783.34 points, down by 0.37%. The sectors leading the gains included coal, gold, fourth-generation semiconductors, AI language materials, and construction machinery concepts, while the sectors leading the declines included integrated automotive die-casting, flying cars (eVTOL), and CAR-T cell therapy.

Let's review the market hotspots from the morning session.

**Coal Mining and Processing Sector Leads in Gains**

By midday, Yunnan Coal Energy was at its daily limit up, Huadian Energy surged by over 5%, and Haohua Energy, Xinji Energy, and Lu'an Environmental Energy all rose by more than 4%, with HuaiBei Mining and Kailuan Shares following suit.

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A research report from Shanxi Securities noted that in the first quarter, there was an increase in the number of new bond issuers with a broader grade distribution. The National Energy Group led a significant increase in high-grade bond issuance, and entities such as Henan Energy, Gansu Energy and Chemical Group, and Jiangxi Energy also had new bond issues. The current financing environment has improved. For the coal industry, there is an expectation of weakened future cash flows but companies still have investment needs. At the same time, the debt structure of some bond issuers needs to be optimized, and the industry may be entering a window period for bond issuance.

**Media Sector Shows Strong Performance**

By midday, Du Ke Culture rose by over 10%, with China Guangdong TV and Zhejiang Cultural Interconnection both hitting their daily limit up, and Wen Tou Holdings increased by over 9%, with Ciwen Media, Hua Ce Film & TV, and Guo Mai Culture also seeing gains.

**Gold Stocks Remain Active with Lesheng Tongling Achieving 8 Consecutive Boarding**

Gold concept stocks were active again, with Zhongrun Resources hitting its daily limit up by midday; Yintai Gold surged by 6%, setting a new historical high; Lesheng Tongling hit its daily limit up for the 8th consecutive day, with a cumulative increase of 114.47% over 8 days.

Yesterday, Lesheng Tongling issued a notice on the serious abnormal fluctuation of its stock trading, indicating that there might be a risk of a significant drop after a large short-term increase in the stock price. As of April 10, 2024, the company's stock price had hit its daily limit up for seven consecutive days, with the increase significantly deviating from the Shanghai Composite Index and the gold jewelry industry during the same period, indicating a possible overheating of market sentiment.【National Medical Insurance Administration: Resident Medical Insurance Enrollment Scale Basically Unchanged Compared to the Same Period in 2023】

At a press conference held by the National Medical Insurance Administration, the person in charge introduced that, according to the latest situation at the end of March 2024, the scale of resident medical insurance enrollment is basically unchanged compared to the same period in 2023, and there has been no so-called "insurance withdrawal tide" as reported by some media.

【National Bureau of Statistics: Seasonal Decline in CPI in March, Narrowing of Month-on-Month Decrease in PPI】

Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, interpreted the CPI and PPI data for March 2024, stating that in March, influenced by factors such as the seasonal decline in consumption demand after the festival and the overall sufficient market supply, the national CPI showed a seasonal month-on-month decline, and the year-on-year increase moderated. The core CPI, excluding food and energy prices, rose by 0.6% year-on-year, maintaining a moderate increase. In March, as industrial production recovered after the festival and the supply of industrial products was relatively sufficient, the national PPI decreased by 0.1% month-on-month, with the decrease narrowing compared to the previous month; it decreased by 2.8% year-on-year, with the decrease slightly expanding.

【China's Consumer Price Index for Residents Up by 0.1% Year-on-Year in March】

The latest data released by the Bureau of Statistics show that in March 2024, the national consumer price index for residents increased by 0.1% year-on-year. From January to March, the national consumer price index for residents was flat compared to the same period of the previous year. In March, the national consumer price index for residents decreased by 1.0% month-on-month.

【China's Producer Price Index for Industrial Producers Down by 2.8% Year-on-Year in March】

The latest data released by the Bureau of Statistics show that in March 2024, the national producer price index for industrial producers decreased by 2.8% year-on-year, and by 0.1% month-on-month; the purchase price index for industrial producers decreased by 3.5% year-on-year, and by 0.1% month-on-month. In the first quarter, the producer price index for industrial producers decreased by 2.7% compared to the same period of the previous year, and the purchase price index for industrial producers decreased by 3.4%.

【Jianxin Shares: The Company's Stock Price Performance Has Seriously Deviated from the Company's Fundamentals】

Jianxin Shares announced in the morning that the short-term increase in the company's stock price has seriously deviated from the increase in the ChiNext Composite Index, with market sentiment being overheated and irrational factors present, and the stock price performance has seriously deviated from the company's fundamentals. Investors are advised to pay attention to the risks of secondary market transactions, make rational decisions, and invest cautiously. The company's current production and operation activities are normal. There have been no significant adjustments in the market environment and industry policies, and there have been no significant fluctuations in production costs and sales, with the internal production and operation order being normal.【South Korean Prime Minister and Several High-ranking Government Officials Resign Simultaneously】

On the morning of April 11th local time, according to the South Korean presidential office, in response to the ruling party, the People Power Party's crushing defeat in the just-concluded South Korean parliamentary elections, South Korean President Yoon Suk-yeol stated on the morning of the 11th that he would humbly accept the will of the people and carry out political reforms. Additionally, it was reported on the same day that South Korean Prime Minister Han Duck-soo, along with the chief of the presidential office, the head of the policy office, and several other high-ranking officials, have collectively submitted their resignations.