ChiNext Index closes up 1.41% Semi-conductor sector surges collectively

China Securities Journal, March 16 — On Monday, the three major A-share indices showed mixed performance, with the ChiNext Index rising over 1%. At the close, the Shanghai Composite fell 0.26% to 4,084.79 points; the Shenzhen Component rose 0.19% to 14,307.58 points; and the ChiNext Index increased 1.41% to 3,357.02 points.

Total trading volume on the Shanghai and Shenzhen markets was 2.33 trillion yuan, down 75 billion yuan from the previous trading day. Over 2,800 stocks in the market rose.

Source: Tonghuashun

In terms of sectors, leading gains were seen in components, semiconductors, ports and shipping, internet e-commerce, and planting and forestry. The biggest declines were in steel, precious metals, coal mining and processing, agrochemical products, and electricity.

Among concept sectors, storage chips, horse racing concepts, holdings by national funds, and MCU chips led the gains, while special steel, glyphosate, zinc, and lead metal sectors lagged.

The semiconductor sector surged collectively, with Zhaoyi Innovation and Demingli hitting the daily limit, Baiwei Storage up over 13%, and Huahong Company up over 12%.

Regarding individual stocks, some of the stocks hitting the daily limit today include: Farsight (+10.01%), Chitianhua (+10.07%), Shunnao Shares (+10.02%), Annie Shares (+9.99%).

Stocks hitting the limit down include: Invt (-10.04%), China Power Construction (-10.01%), Oriental Tower (-10.00%), Yunnan Energy Holdings (-9.97%), Fenglong Shares (-10.00%).

The top five stocks by turnover rate are: Xihua Technology, Nabaichuan, Agricultural University Technology, Chuanjinnuo, and Shouhang New Energy, with rates of 57.87%, 49.69%, 42.48%, 41.19%, and 39.49%, respectively.

CITIC Securities stated that as the US-Iran conflict enters a standoff phase, crude oil prices fluctuate sharply. China’s diversified crude oil imports, energy structure transformation, and strategic petroleum reserves will also play a buffering role. However, under global risk appetite disturbances and domestic market liquidity constraints, A-shares may continue to fluctuate in the short term.

According to China Merchants Securities, for the A-share market, the ongoing rise in oil prices leading to re-inflation trades and the delay of Federal Reserve rate cuts will impact market risk appetite, keeping the market mainly volatile. Market structure differentiation is evident, with resource sectors benefiting relatively. Meanwhile, with PPI rebounding and expectations of turning positive, investors’ holdings may further balance, drifting toward value and cyclical sectors with rising prices. (China Securities Journal APP)