Home » Stock Update: Shanghai Composite Index Rises, Shenzhen Component Index and ChiNext Index Fall

Stock Update: Shanghai Composite Index Rises, Shenzhen Component Index and ChiNext Index Fall

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September 6 – Stock Market Update

On September 6, the three major indexes opened slightly lower and then maintained a narrow range of shocks. The Shanghai Composite Index rose 0.12% while the Shenzhen Component Index fell 0.24% and the ChiNext Index fell 0.47%.

According to Wind data, overall, individual stocks rose more than they fell, with over 2,800 individual stocks in the two cities experiencing gains.

Looking at specific sectors, the photoresist, satellite navigation, semiconductors and components, real estate services, and defense and military industries saw an increase. On the other hand, sectors such as kitchen and bathroom appliances, airport shipping, media, and games experienced a decline.

The photoresist sector saw a sharp rise, with stocks like Yangfan New Materials, Guangxin Materials, Lanying Equipment, and Rongda Photosensitive hitting their daily limit.

The satellite navigation sector was also active, with stocks like Zhenyou Technology, Tianmai Technology, and Huali Chuangtong reaching their daily limit. Speed, Science and Technology Navigation, and Tianyin Electromechanical were among the top gainers.

Similarly, the semiconductor and component sectors fluctuated higher, with Lanjian Electronics and Huawei Electronics trading at their daily limit. Zhongfu Circuits, Chuangyao Technology, and Jiangfeng Electronics were also among the top gainers.

However, the kitchen and bathroom appliances sector experienced a pullback, with Aopu Home falling nearly 9%. Yitian Smart, Robam Electric, and Shuaifeng Electric were among the top losers in this sector.

In terms of capital flows, Wind data shows that throughout the day, there was a net buying of northbound funds amounting to 40.79 million yuan. The net selling of Shanghai Stock Connect was 1.761 billion yuan, while the net buying of Shenzhen Stock Connect was 1.802 billion yuan.

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During late trading, main funds continued to flow into sectors like electronics, power equipment, national defense, and military industries. On the other hand, funds flowed out of sectors such as media, automobile, and banking.

In terms of individual stocks, Aiko, Changshan Beiming, and Deer Laser received net inflows of 1.365 billion yuan, 1.016 billion yuan, and 844 million yuan, respectively. On the other hand, People’s Daily Online, Air China, and Bank of Jiangsu experienced net outflows amounting to 696 million yuan, 413 million yuan, and 410 million yuan, respectively.

CITIC Securities provided their viewpoint, stating that Longi Green Energy plans to expand BC battery production and believes that BC technology will become the absolute mainstream of crystalline silicon batteries in the future. Sinolink Securities commented that while the real estate industry is under short-term pressure, central state-owned enterprises and improved real estate companies continue to show resilience in their performance. Guosheng Securities noted that several heavyweight policies on the capital market and real estate stabilization have been implemented, improving the valuation of the A-share market.

Overall, both internal and external factors have improved, and the A-share market has shown signs of stabilization. However, it is important to note that the index may fluctuate upward in the form of a central shift.

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