Stock Market Sees Mixed Performance as Certain Sectors Lead and Others Lag
The A-share indexes experienced a slight decline after an initial rise, with over 3,600 stocks in the red across the two cities. Among the sectors that performed well were gaming, education, automobiles, child care services, household light industry, civil explosion concept, multi-modal AI, Kuaishou concept, and human brain engineering. Conversely, sectors such as coal, precious metals, public utilities, gas, aerospace, photovoltaic equipment, and securities saw a decrease in performance, dragging the market down.
By midday closing, the Shanghai Stock Exchange Index fell by 0.12% to 3144.15 points, the Shenzhen Component Index dropped by 0.01% to 9672.30 points, and the GEM Index saw a decrease of 0.18% to 1857.02 points. The total turnover in the two cities reached 527.1 billion in half a day.
With 59 stocks hitting daily limits and closing at a rate of 64.13%, individual stocks in various sectors experienced fluctuations. Media games, export and concept stocks, automobile stocks, and power grid concept stocks were among those that saw positive movements. On the other hand, coal stocks faced adjustments, with some falling by more than 5%.
Industry capital flow data revealed a net inflow into the automobile sector, while sectors like photovoltaic equipment and securities saw net outflows. The top 10 stocks by trading volume included WuXi AppTec and Luxshare Precision at the forefront.
Additionally, recent news such as the issuance of ultra-long-term special treasury bonds, the launch of OpenAI’s new flagship model GPT-4o, and the return of GameStop’s surge drew significant attention. Refuting rumors of electricity price hikes in various regions and strict supervision of listed companies and intermediaries were also highlighted.
Overall, the market experienced a mix of positive and negative trends across different sectors, emphasizing the importance of staying informed and vigilant in investment decisions.
(Source: Oriental Fortune Choice data)