A-share close: The Shanghai Composite Index (SSE) opened lower and then continued to slide, plunging 2.06%. Across the whole market, more than 170 stocks hit the daily limit down.

China’s three major A-share indexes fell collectively today. As of the close, the Shanghai Composite Index dropped 2.06%, the Shenzhen Component Index fell 3.48%, the ChiNext Index fell 3.1%, the BeiCS 50 dropped 6.78%, and the Sci-Tech Innovation 50 Index fell 3.42%. Total trading value across the market was 28,347 billion yuan, down 5,760 billion yuan from the previous day, and more than 4,600 stocks across the market declined.

In terms of sector themes, traditional Chinese medicine, banks, oil & gas extraction and services, medical e-commerce, and the gas sector led the gainers. Military-industrial electronics, PCB concepts, lab-grown diamonds, film and cinema chains, and commercial aerospace sectors led the decliners. On the market, the traditional Chinese medicine sector opened higher and then kept rising: Jiu Shi Tang, Long Shen Rong Fa, and Tian Mu Pharmaceutical hit the daily limit; Shanghai Kai Bao rose by more than 15%; Bio Valley rose by more than 10%; and Tai Ji Group, Xin Guang Pharmaceutical, Pien Tze Huang, Kun Ming Pharmaceutical Group, and Yi Ling Pharmaceutical followed higher.

The banking sector continued to trend upward: Suzhou Bank rose by more than 6%, and Ningbo Bank, YU Nong Commercial Bank, Xiamen Bank, and China Construction Bank also followed higher. The gas sector showed pockets of strength: Jiu Feng Energy posted its second consecutive daily limit; Shui Fa Gas hit the daily limit; and Tian Hao Energy, Shenzhen Gas, ENN Shares, Shaanxi Natural Gas, and Blue Sky Gas followed higher.

The lab-grown diamonds sector plunged. China National Machinery Industry Precision Technology, Yellow River Spinning, and Boyun New Materials touched the daily limit lower; Hui Feng Diamonds fell by more than 15%; and Sifangda, Ye Guang Ming, Benlang New Materials, and Wode fell by more than 10%. Inno Laser, Henglin Shares, Jing Shengji Electric, Chujiang New Materials, and Guoli Electronics also fell.

The PCB concept sector fell across the board: more than a dozen stocks, including Jin An Guo Ji, Han’s Laser, Shengyi Technology, and An Tai Technology, hit the daily limit lower; and multiple stocks such as Jinlu Electronics, Huitian New Materials, and Zhongying Technology fell by more than 10%. The commercial aerospace sector was also weak throughout the day, triggering a wave of daily-limit declines: more than 30 stocks, including Beidou Xing Tong, Tongyu Communications, Aerospace Changfeng, Shanghai Hu Gong, and Norinco Hongjian, touched the daily limit lower.