A-share Trend | Shanghai Index Closes Down 33 Points, Breaks Below 4,100 Level, Weekly Decline of 0.7%

Mainland China’s stock markets declined, with the Shanghai Composite Index continuing yesterday’s decline, falling another 33 points today, marking two consecutive days of decline and breaking below the 4,100-point level. Total trading volume across the two markets shrank to 2.4 trillion yuan (RMB). For the week, the Shanghai Index decreased by a total of 0.7%.

The Shanghai Composite Index rose up to 4 points or 0.12%, reaching a high of 4,134 points before facing downward pressure. The market was relatively weak, with selling pressure intensifying in the afternoon, causing the index to fall below 4,100 points, with a maximum decline of 42 points or 1.02%, hitting a low of 4,086 points. The index closed at 4,095 points, down 33 points or 0.82%, with a total turnover of 10,639.18 billion yuan.

The Shenzhen Component Index rose up to 79 points or 0.55%, reaching a high of 14,454 points, but then faced selling pressure, with the decline widening towards the end of the session, with a maximum drop of 128 points or 0.9%, hitting a low of 14,245 points. It closed at 14,280 points, down 94 points or 0.65%, with a total turnover of 13,363.99 billion yuan.

The CSI 300 Index stood at 4,669 points, down 18 points or 0.39%; the ChiNext Index was at 3,310 points, down 7 points or 0.22%.

Different sectors showed mixed performance, with non-ferrous metals, power, and aircraft manufacturing stocks falling more than 3%; oil, coal, media and entertainment, automobile manufacturing, and real estate stocks declined over 1%; financials, cement, and chemical stocks were relatively soft; steel stocks dropped over 1%; biotech and pharmaceutical stocks also showed weakness.