[Epoch Times November 11, 2021](Epoch Times reporter Li Bing comprehensive report) In the morning of November 10 (Wednesday), A shares suddenly plunged, and the three major indexes collectively fell by more than 1%. Among them, the lithium battery sector suffered the most. .
The three major indexes opened lower in the morning session on the 10th. The Shanghai Stock Exchange Index fell more than 1% and fell below the annual line, setting a new adjustment low. The GEM index once expanded to 2%, and the index rebounded slightly near midday.
Among them, new energy sectors such as lithium batteries and green power have fallen, cyclical sectors such as coal and steel have continued to be in a downturn, and consumption sectors such as food processing and liquor have weakened. In the afternoon, the two markets oscillated and rebounded, and the declines of the three major stock indexes continued to narrow.
As of the close on the 10th, the Shanghai Composite Index fell 0.41% to 3,492.46 points; the Shenzhen Component Index fell 0.38% to 1,515.88 points; the ChiNext Index fell 0.30% to 3,399.66 points.
On the disk, the coal, automobiles, and salt lake lithium extraction sectors were among the top decliners.
According to “China Fund News”, the lithium battery sector suffered the worst drop in A shares on Wednesday. Lithium Ore Index, Salt Lake Lithium Extraction, and Lithium Battery Negative Electrodes dominate the decline list.
Among them, the Lithium Mine Index plummeted over 6%; Ganfeng Lithium Industry plummeted 7.5%; Tianci Materials plummeted nearly 7%.
“Battery Brother” Ningde Times once fell more than 4%, and closed down 3%. The latest share price is 643.32 yuan per share.
In addition, affected by the news of Tesla’s Musk holdings reduction, China’s new energy auto stocks have expanded their decline. Ideal cars fell more than 8%; Xiaopeng Motors fell nearly 8%; BYD shares fell nearly 4%, and Geely Automobile fell nearly 3%.
On the macro level, the CICC research report stated that the growth rate of industrial production has fallen due to the dual control of energy consumption and power and production restrictions; high-frequency data shows that the policy’s production constraints on upstream industries are still continuing. On the demand side, domestic consumption is once again facing the turmoil of the epidemic, construction investment has declined significantly, and the value of export delivery has fallen. The price divergence between upstream and downstream has increased, and price increases in most industries cannot hedge against rising costs. Cost pressures for public utilities and manufacturing are emerging. While the impact of cost has brought about profit differentiation in various industries, it has also increased the debt pressure of mid- and downstream industries.
Editor in charge: Gao Jing#
.