Stocks Fall as Northbound Funds See Massive Net Sales
The A-share market took a downward turn today, with the three major A-share indexes collectively falling. The net sales of northbound funds exceeded 6.7 billion yuan, contributing to the negative market trends.
In today’s trading, certain sectors saw gains while others saw losses. The game, tourism hotels, household light industry, jewelry, short interactive games, radio and television, outdoor camping, and film and television concepts were at the forefront of the gainer list. Conversely, sectors such as flying cars, Hongmeng Concept, photovoltaic equipment, Huawei Euler, virtual power plants, Huawei Ascend, digital currency, and robot actuators performed poorly, dragging the market down.
As of midday closing, the Shanghai Stock Exchange Index fell 0.47% to 2832.29 points; the Shenzhen Component Index fell 0.36% to 8814.81 points; the GEM Index fell 0.60% to 1721.97 points; the Science and Technology Innovation 50 Index fell 0.51% to 764.40 points; the North Securities 50 Index rose 3.18% to 973.18 points. The total half-day transaction volume in the two cities was 439 billion yuan, with the net sales of northbound funds reaching 6.721 billion yuan.
Additionally, 33 stocks reached their daily limit, with a closing rate of 54.10%. Sectors such as textile and apparel, high export sales, and games showed strength, while photovoltaic and other new energy track stocks started to decline.
It was reported that there was a net outflow of northbound funds, including a net outflow of 2.430 billion yuan from Shanghai Stock Connect and a net outflow of 4.292 billion yuan from Shenzhen Stock Connect, for a total net outflow of 6.721 billion yuan.
Industry funds data indicated net inflows in games and cultural media, and net outflows in photovoltaic equipment and software development.
In terms of individual stock transaction value, Kweichow Moutai ranked first in the two cities, with a transaction value of 4.514 billion yuan.
Overall, the A-share market saw varied performance today, with certain sectors experiencing significant gains while others struggled. The net outflow of northbound funds is a significant factor contributing to the negative market trends as of midday closing.