China’s stock market experienced a day of fluctuation and divergence, with the ChiNext Index showing a rebound while the Shanghai Stock Exchange Index adjusted. Flying car concept stocks saw a collective breakout, with over 10 stocks hitting their daily limit including Shangluo Electronics, Wanfeng Aowei, CITIC Haizhi, and Lihang Technology.
Pharmaceutical stocks also saw a rise, led by traditional Chinese medicine companies such as Zuoli Pharmaceutical, Xiangxue Pharmaceutical, Foci Pharmaceutical, and Longjin Pharmaceutical. Liquor stocks fluctuated and rebounded, with Golden Seed Liquor and Qinghai Spring reaching their daily limit. Real estate stocks rose in the afternoon, with China Communications Construction Company Limited and Tianbao Infrastructure hitting their daily limit.
On the downside, high-yield concept stocks continued to adjust, with CNOOC falling more than 5%. Despite this, the majority of individual stocks in the market rose, with over 3,700 stocks showing an increase. The turnover of the Shanghai and Shenzhen stock markets reached 1.1454 billion, 139.5 billion higher than the previous trading day.
In terms of sectors, flying cars, traditional Chinese medicine, real estate, and liquor were among the top gainers, while coal, electricity, nonferrous metals, and liquid-cooled servers were among the top losers. At the close, the Shanghai Stock Exchange Index fell 0.41%, the Shenzhen Component Index rose 0.51%, and the ChiNext Index rose by 0.83%.
Northbound funds bought 4.244 billion yuan in net throughout the day, with 2.64 billion yuan in Shanghai Stock Connect and 1.604 billion yuan in Shenzhen Stock Connect. Investors are advised to operate according to their own risk and not take this information as investment advice.