A-Share Trend | Shanghai Composite Falls for Three Consecutive Days, Closes Down 10 Points

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Domestic stock market development: The Shanghai Composite Index closed down 10 points, marking its third consecutive decline. The combined trading volume of the two markets shrank to 2.33 trillion yuan (RMB).

The Shanghai Composite opened 3 points lower, then declined further amid selling pressure, with a maximum drop of 47 points or 1.16%, reaching a low of 4048 points before stabilizing. The decline narrowed, and the index closed at 4084 points, down 10 points or 0.26%, with a total turnover of 10,372.424 billion yuan.

The Shenzhen Component Index fell as much as 182 points or 1.28%, reaching a low of 14,097 points before buying support emerged. The market turned higher, with a maximum rebound of 39 points or 0.28%, reaching a high of 14,320 points. It closed at 14,307 points, up 26 points or 0.19%, with a turnover of 12,881.07 billion yuan.

The CSI 300 Index stood at 4,671 points, up 2 points or 0.05%; the ChiNext Index was at 3,357 points, up 46 points or 1.41%.

Different sectors showed mixed performance: agrochemical and fertilizer stocks fell more than 3%; steel, electricity, and non-ferrous metals declined over 2%; coal and cement stocks dropped over 1%; chemical, automotive manufacturing, financial, and oil stocks were soft; biotech, media and entertainment, and real estate stocks remained stable.

The National Bureau of Statistics announced that from January to February this year, the country’s industrial added value above designated size grew by 6.3% year-on-year, exceeding market expectations of 5.3%. Retail sales of consumer goods increased by 2.8%, also surpassing the expected 2.5%. Fixed asset investment nationwide grew by 1.8% in the first two months, better than the expected decline of 5.1%.

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