China News Service, September 1, . On the first trading day of September, the market opened low all day and then rose and fell back. The three major indexes hit new adjustment lows. The Shanghai Composite Index fell for three consecutive days, and the ChiNext Index fell for 7 consecutive days.
Source: Tonghuashun iFinD
As of the close, the Shanghai Composite Index fell 0.54% to 3184.98 points. The Shenzhen Component Index fell 0.88% to 11,712.39 points. The ChiNext Index fell 1.42% to 2533.85 points.
On the market, the coal, home appliances and real estate sectors strengthened against the market, while the airport shipping, cloud gaming, virtual power plants and media sectors ranked among the top in the declines.
htmlOn the 1st, the coal sector strengthened again, Shaanxi's coal industry hit a new record high, and Zhengzhou Coal and Electricity, Shanmei International, Jinguan Coal and Coal Industry and other companies ranked among the top gainers. The real estate sector performed actively, with Airport Co., Ltd., Beijing Investment Development and Shahe Co., Ltd. hitting the daily limit. Retail consumer stocks were moving abnormally in the afternoon, with Hongqi Chain, Renrenle and Hei Sesame hitting the daily limit.In terms of the decline, the photovoltaic and energy storage sectors continued to decline, and many stocks such as SanDi Chemical, Jinggong Technology, Beijing Kerui, and Shenzhen South Electric A fell to the limit. The scenic spots and tourism sectors ranked among the top in the declines, with Western Regions Tourism, Guilin Tourism, and Tianmu Lake falling by more than 5%, while Lijiang Co., Ltd., Yunnan Tourism, Songcheng Performing Arts, etc. fell. The airport shipping sector fell, with Juneyao Airlines falling by more than 6%, while China Airlines, Spring Airlines, Air China, etc. followed suit. The top five stocks with turnover rate of
are: Hanyi Co., Ltd., Hongye Futures, Qingdao Food, Beiwei Technology, and Kungong Technology, respectively, at 64.699%, 54.292%, 50.835%, 46.078%, and 43.624%, respectively.
CITIC Securities Research Report Analysis: The interim performance growth rate of coal listed companies is close to 110%, the industry's prosperity will remain at a high level in Q3, and there will be further expansion in Q4. The performance of the coal sector has increased significantly, and the dividend yield expectations are also increasing. The sector has cost-effective allocation, and continues to recommend leading companies with low valuations and growth logic, as well as companies that transform into new energy businesses.
Looking ahead, Zhongyuan Securities believes that the stock index is generally expected to continue to fluctuate upward, and it is still necessary to pay close attention to changes in policy, capital and external factors.
Dongguan Securities stated that considering that the fundamentals and liquidity are not changing much at this stage, the continuous increase in the policy of stabilizing growth and interest rate cuts inject liquidity into the market, expectations of economic recovery in the second half of the year are expected to gradually increase. After the market experienced the release of selling pressure, it is expected that the index will rise in the fluctuation in September, and recovery is expected, and attention should be paid to changes in volume, northbound capital flows and sector rotations.
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