The Chinese A-share market saw a collective decline in the three major stock indexes. The GEM index fell below 1,500 points and more than 900 stocks in the two cities fell by their limit. Non-concept sectors rose, but many concept sectors led the market decline. As of the midday closing, the Shanghai Stock Exchange Index fell 1.82% to 2680.47 points; the Shenzhen Component Index fell 2.28% to 7872.08 points; the GEM Index fell 1.70% to 1524.07 points; the Science and Technology Innovation 50 Index fell 3.37% to 650.71 points; and the North Securities 50 Index fell 5.13% to 733.69 points. The morning turnover in the two cities was 552.2 billion, while the net sales of northbound funds were 729 million.
At midday, a total of 17 stocks hit their daily limit, with a closing rate of 58.82%. Some high-dividend and heavyweight stocks strengthened, while financial stocks reversed course. The GEM index fell by more than 5%, with the NSE sector showing no daily limit for individual stocks.
As of midday closing, there was a net outflow of 729 million yuan from northbound funds, and industry funds saw 290 million yuan net inflows into jewelry. The daily top 10 stocks by trading volume consisted of WuXi AppTec and Kweichow Moutai.
In general, the news includes the release of the RRR cut, the China Securities Regulatory Commission’s move to stabilize the market, future predictions regarding the movie and automobile industries, investment advice from various securities companies, and more. The article ends with a disclaimer, stating that the information shared does not constitute investment advice and that individuals should operate at their own risk. The source of the article is given as Oriental Fortune Choice data.