[Epoch Times November 03, 2021](Epoch Times reporter Li Jing comprehensive report) On November 2, China’s A-share market suddenly plunged. The Shanghai Composite Index once fell close to 70 points in the afternoon, and individual stocks were even more contagious by panic. Follow the market to dive one after another. According to Lu media analysis, the market turmoil was mainly affected by a notice issued by the CCP to prepare daily necessities.
On the 2nd, the Shanghai Composite Index surpassed and fell in early trading, and fell sharply in the afternoon. At one time, it fell nearly 2% and fell below 3,500 points. The decline in late trading has narrowed; the Shenzhen Component Index also fell sharply in the afternoon, once falling by more than 1.5%; the GEM was strong in the morning. Pulled up, bottomed out in the afternoon and rebounded, and rose slightly in late trading.
On the disk, cyclical sectors such as coal, electricity, gas, steel, petroleum, and chemical industries have fallen sharply. Real estate, insurance, banking, brokerage, wine and other sectors have all fallen, and the concept of phosphorus, green power, organic silicon, and fluorine have fallen sharply. . The military industry sector has bucked the trend and pulled up.
“Brokers China” reported that A-shares have plunged. Judging from the performance of other markets in China, there has not been a sharp drop. Hong Kong stocks rose sharply in the morning, and although they fell back in the afternoon, the decline was not large. Judging from the performance of the offshore RMB, there are no signs of war, and the foreign exchange market has little volatility.
Industry sector: Among the 56 industry classifications of Tongdaxin, 10 industries rose and 46 industries fell. In terms of individual stocks: 1,109 companies rose, 3,364 companies fell, 52 companies had a daily limit, 29 companies had a lower limit, 250 companies fell more than 5%, and 98 companies rose between 5% and 10%.
According to Lu Media’s analysis, the market turmoil was mainly affected by a notice.
On the evening of November 1st, the Ministry of Commerce of the Communist Party of China issued the “Notice on Doing a Good Job in Maintaining Supply and Stabilizing Prices of Vegetables and Other Daily Necessities in the Market for the Winter and Spring”. The official encourages the public to prepare “family emergency kits.” Store a certain amount of daily necessities to meet the needs of daily life and emergencies.”
The notice aroused the attention and heated discussion of netizens. Many netizens speculated: “Is the supply of materials tight?” “Who can tell me, have such notices been sent in previous years?” Some people even associate it with “preparing for war against famine”, “is it going to fight?”
In response, the Ministry of Commerce of the Communist Party of China and the official media issued an urgent voice requesting “not to over-interpret.” After the CCP officially “refuted the rumors”, the ChiNext Index barely closed in red, and the Shanghai Stock Exchange Index barely stood at 3,500 points.
There is also land media analysis,A-shares fell sharply. From an international perspective, the Fed may announce that it will “shrink its balance sheet” as the main reason. In addition, cyclical stocks and heavyweights fell sharply, which directly caused the index’s weakness. And the brokerage sector “diving” plummeted, and the market was permeated with a negative atmosphere. The central bank withdrew currency, the market expressed concern.
According to the “China Fund News” report, the liquor sector fell not small that day. Liquor Index fell more than 2.5%, Golden Seed Liquor fell 9.93%, and Luzhou Laojiao fell 3.11%.
In addition, cyclical sectors such as steel, coal, petroleum, and nonferrous metals led the decline. Phosphorus chemical sector fell 6.71%, ranking first in the decline. The thermal power index fell by more than 4.4%; in the futures market, iron ore and wire rod fell to the limit, thermal coal, rebar, etc. fell at the top; the photovoltaic sector fluctuated and the index fell by more than 2%.
On Monday (1st), the Chinese state-owned enterprise CDFG, which had just dropped its limit of 50 billion yuan, approached its limit on the 2nd, closing down nearly 8%, and its market value evaporated over 85 billion yuan in two days.
Editor in charge: Li Qiong#
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