A-share average price hits new yearly low! Hundred-yuan stocks plummet sharply, 70% of sectors down year-to-date, these directions see significant pullbacks

AI Questions · The number of stocks priced at 100 yuan has sharply decreased. Why does the electronics sector account for the highest proportion?

Cailian Press, March 23 (Editor: Zilong) — Today (March 23), the market declined again with fewer gains. By the close, only about 300 stocks rose. As a result, the average stock price of A-shares (arithmetic mean) continued to fall, closing at 26.4 yuan, hitting a new low for the year, with a nearly 13% decline from the high point recorded at the end of February.

Note: The recent decline in the average stock price of A-shares (as of March 23 close)

A-shares average price continues to decline, with clear sector declines

Over the past two weeks, major indices have fallen to varying degrees. The A-share average stock price indicator, which reflects the market’s overall stock price center after removing weight stocks, has declined nearly 12% over the last 9 trading days, reaching a new low since late December last year. Year-to-date, the A-share average stock price peaked at 30.48 yuan on February 27. At that time, the Shanghai Composite Index closed at 4,163 points. Additionally, on February 23 and February 26, it reached the second and third highest records of the year, respectively.

Note: Changes in the A-share average stock price in recent years (as of March 23 close)

From an industry perspective, as of today’s close, 21 out of 31 Shenwan first-level sectors have declined this year, accounting for about 67.7%. Among them, the retail, non-bank financial, and beauty care sectors have fallen more than 10%, while coal, oil and petrochemicals, and utilities sectors are still up over 10%. Looking at the decline from the recent high to now, non-ferrous metals, media, defense and military, computers, retail, and comprehensive sectors have experienced more than 20% drops from their highs.

Note: Decline from the highest point this year to now in various industry sectors (as of March 23 close)

Regarding individual stocks, many have continued to decline this year. As of today’s close, excluding new and ST stocks, a total of 39 stocks have declined. Among them, stocks like Kaipu Cloud, Jinhao Medical, Aerospace Hongtu, Kema Materials, and Yihua Recording have experienced the largest declines. Industry-wise, these nearly 40 “halved stocks” are mainly concentrated in the computer sector, accounting for 31%, and also include pharmaceuticals, media, non-ferrous metals, automotive, and other sectors.

Note: Stocks with the largest declines from their highs this year (as of March 23 close)

Number of low-priced stocks rises, industry distribution overview

Due to the recent continuous decline of the A-share market, the number of stocks priced at 100 yuan has also decreased. As of today’s close, there are 184 such stocks, falling below 200 for the first time in over three months and hitting a new low for the year. Among them, Kweichow Moutai remains the top-priced stock in the A-share market. Cambrian, previously second, has fallen to third, with Yuanjie Technology, also an electronics stock, moving into second place. Additionally, stocks priced below 5 yuan have recently increased, reaching 571 today, the highest number this year.

Note: Changes in the number of 100-yuan stocks and stocks below 5 yuan in the A-share market (as of March 23 close)

From the distribution of low-priced stocks, those below 5 yuan are mainly in real estate, pharmaceuticals and biology, transportation, construction and decoration, machinery equipment, and basic chemicals, each accounting for over 5%. Stocks in beauty care, defense and military, comprehensive sectors, household appliances, and communications are relatively fewer. When broken down into sub-sectors (Shenwan third level), residential development, chemical preparations, panels, ports, water services and water treatment, traditional Chinese medicine, and display panels currently have more stocks below 5 yuan.

Note: Industry distribution of stocks below 5 yuan in the market (as of March 23 close)

Furthermore, among stocks priced at 100 yuan, the electronics sector has a significantly higher proportion, accounting for about 40%. Additionally, stocks in machinery equipment, electrical equipment, computers, communications, pharmaceuticals, and automobiles each number more than 10. In detailed sub-sectors, there are many stocks in digital chip design, semiconductor equipment, communication network devices and components, vertical application software, analog chip design, other specialized equipment, liquor, military electronics, inverters, consumer electronics parts, and assembly stocks.

(Cailian Press, Zilong)