Major A-share Indexes Plunge, Net Northbound Capital Outflow Tops 2.7 Billion Yuan
Today, the three major A-share indexes experienced significant declines. The Shanghai Stock Exchange Index fell by 1.65% and closed at 3,007.07 points, while the Shenzhen Stock Exchange Component Index dropped by 2.29% to 9,155.07 points. The ChiNext Index also decreased by 1.97% to 1,760.20 points. The total transaction volume of the Shanghai and Shenzhen stock markets reached 947.2 billion yuan, with northbound funds selling a net 2.793 billion yuan.
Industry sectors saw widespread falls, with the micro-cap stock index plummeting by more than 10%. Over 700 stocks hit their limit down, while less than 300 stocks saw gains.
In terms of industry funds, only the engineering consulting services and banking sectors experienced net inflows. Engineering consulting services saw a net inflow of 250 million yuan. Meanwhile, software development, nonferrous metals, and batteries were among the sectors with high net outflows, with software development seeing a net outflow of 2.299 billion yuan.
On the global front, U.S. retail sales data for March exceeded expectations, potentially delaying a Fed rate cut. The U.S. Department of Commerce reported a 0.7% month-on-month increase in retail sales, higher than the 0.3% expected. This robust consumer spending could postpone a rate cut by the Federal Reserve, according to economists.
Additionally, Soochow Securities expressed optimism about the systematic reshaping of valuations for state-owned auto companies. CITIC Securities emphasized the value of dividend strategy allocation, while Guotai Junan highlighted the importance of focusing on stocks with low-risk characteristics amidst market turbulence.
Overall, the A-share market witnessed significant fluctuations today, with market participants closely monitoring the evolving economic landscape and geopolitical developments. Investors are advised to exercise caution and undertake thorough research before making investment decisions.
Source: Oriental Fortune Choice data