New yearly low! The Shanghai Composite Index falls below 4,000 points

Source: Daily Business News

On March 20, the market fluctuated throughout the day, with the Shanghai Composite Index experiencing a pullback, falling below the 4000-point mark. By the close, the Shanghai Composite Index was down 1.24%, the Shenzhen Component Index was down 0.25%, the ChiNext Index was up 1.3%, and the Beijing Stock Exchange 50 Index was down 1.01%.

Over 4700 A-shares fell

Photovoltaic equipment led the sector gains

Today, the trading volume in the Shanghai, Shenzhen, and Beijing markets was 23.028 billion yuan, an increase of 175.5 billion yuan from the previous day, with over 4700 A-shares declining.

In terms of sectors, photovoltaic equipment, batteries, electricity, and energy metals saw the largest gains, while computing power leasing, cloud computing, chemical fibers, chemical raw materials, internet finance, military equipment, and online gaming sectors experienced the largest declines.

Today, the photovoltaic equipment sector led the A-share market, with concept stocks surging and triggering a wave of price limits.

In the afternoon, the computing power leasing and cloud computing sectors plummeted, with Yitian Intelligence closing down nearly 20%, Xiechuang Data down nearly 14%, and Hongjing Technology, Dongfang Guoxin (rights protection), and other stocks down over 10%; multiple stocks, including Litong Electronics, hit the price limit down.

Regarding the recently escalated situation in the Middle East, several brokerage firms believe that the risk appetite of A-shares will be disturbed in the short term, but relative resilience is evident, maintaining a medium-term positive trend.

Hong Kong stocks also fell

Tech stocks plummeted

On March 20, the Hong Kong Hang Seng Index closed down 0.88%, and the Hang Seng Tech Index closed down 2.48%. Over 1000 stocks in the main board market declined, with net sales by southbound funds reaching 21 billion Hong Kong dollars.

Tech stocks generally declined, with Xiaomi Group falling over 8%, Alibaba down over 6%, and Xiaopeng Motors down over 5%. Lithium battery stocks rose against the trend, with CATL up over 8%.

On the market, electrical equipment and oil and petrochemical sectors saw the largest gains, while semiconductors, media, and other sectors fell sharply.

Business News / Reporter Fang Wei

Partially based on publicly available information and Wind data

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