As of midday closing, the Shanghai Composite Index fell 0.62% to 2824.5 points, the Shenzhen Component Index fell 1.24%, and the Chinext Price Index fell 1.76%.
At the noon close, the Shanghai Composite Index fell 0.62% to 2824.5 points, the Shenzhen Component Index fell 1.24%, and the ChiNext Price Index fell 1.76%. More than 3,300 stocks declined, with a turnover of 462 billion yuan in the morning session, a decrease of 61.6 billion yuan from the previous day.
In the market, insurance and banking stocks are strong, Tianmao Group has two consecutive limit-up days, and Agricultural Bank of China rose nearly 4%; the coal sector remains active, with China Coal Energy up over 6% to a 15-year high; two-wheeler concept stocks rose, and Jiangsu Xinri E-Vehicle hit the limit-up; education, logistics, public utilities, and other sectors are leading the gains. Stocks with names beginning with the middle letter of the alphabet are fluctuating and falling, with China Shipbuilding Industry down more than 8% and China Communications Construction down nearly 7%; the precious metals sector continues to weaken, with Shandong Yulong Gold down more than 6% and Hunan Gold Corporation down more than 4%; baijiu (Chinese liquor) stocks collectively declined, with Luzhou Laojiao and Shanxi Xinghuacun Fen Wine Factory down more than 4%; semiconductors, autos, aerospace & defense, and other sectors are among the top decliners.
The coal sector remains active, with China Coal Energy up nearly 6% to a 15-year high.
China Coal Energy rose nearly 6%, reaching a 15-year high in stock price, Shanxi Lanhua Sci-Tech Venture rose about 6.8%, Yankuang Energy, Shanxi Coal International Energy Group, Beijing Haohua Energy Resource, and China Coal Xinji Energy are leading the gains. Guosheng Securities' research report pointed out that the downward trend in coal prices is nearing its end. With the background of a structural shortage of high-quality coal resources, as the traditional peak season for non-electric industries in September and October approaches, coal prices are about to begin a new round of upward trend.
Two-wheeler concept stocks rose, with Jiangsu Xinri E-Vehicle hitting the limit-up.
Jiangsu Xinri e-vehicle opened at the limit up, Jiangxi Firstar Panel Technology rose nearly 18%, Jiuzhou Technology rose nearly 10%, Tianneng Power, Boliv Technology, Aima Technology, Zhonglu Co., Ltd. and others led the gains. In terms of news, the Ministry of Commerce and other 5 departments jointly issued the "Implementation Plan for Promoting the Replacement of Old Electric Bicycles with New Ones", promoting the work of replacing old electric bicycles with new ones.
Insurance and banking stocks performed strongly, Hubei Biocause Pharmaceutical rose for the second consecutive day.
Hubei Biocause Pharmaceutical rose for the second consecutive day, Hua Xia Bank rose more than 5%, Qilu Bank, Agricultural Bank of China, The People's Insurance, China Life Insurance and others followed suit.
Stocks beginning with the middle letter experienced volatility and fell more than 8% for China CSSC.
Infrastructure and ship sectors led the decline, China CSSC fell more than 8%, China Communications Construction fell nearly 7%, China Railway Construction, China Defense, China Shipbuilding Industry, and COSCO Shipping Development fell more than 5%.
