A-Share Stock Indexes Open Lower on December 19
On December 19, the three major A-share stock indexes in China opened lower, according to data from Wind. The Shanghai Composite Index opened down 0.07% to 2928.76 points, while the Shenzhen Component Index fell 0.10% to 9270.20 points, and the ChiNext Index fell 0.06% to 1818.88 points.
Shenwan’s primary industry sectors saw gains in textile and apparel, coal, and petrochemical sectors, while media, trade and retail, and real estate sectors experienced losses.
In terms of concept sectors, fluorine chemicals, western infrastructure, and urban village renovation were among the top gainers, while duty-free shops, WEB3.0, and online games were among the top losers.
Haitong Securities believes that the current price-performance ratio of A-shares is high and predicts that the macroeconomic recovery next year will promote a moderate recovery in corporate profits which is expected to support a moderate recovery of the market. The amplitude is currently at a historical low and is likely to increase next year, suggesting the possibility of “surprises” in the market. Baima is expected to have better growth next year, particularly in hard technology and medicine.
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