Midday Review: ChiNext index drops over 2% in half a day, with significant declines in the power grid and energy storage sectors

The three major indices collectively fell in early trading. By the lunch break, the Shanghai Composite Index was down 1%, the Shenzhen Component Index was down 1.99%, the ChiNext Index was down 2.37%, and the Beijing Stock Exchange 50 was down 1.81%. The total trading volume in the Shanghai, Shenzhen, and Beijing markets was 1.189 trillion yuan, a decrease of 34 billion yuan compared to the previous day. Over 4,100 stocks in the market declined. In terms of sectors, gas, precious metals, port shipping, coal mining and processing, steel, airport shipping, and banking sectors saw the largest gains; while grid energy storage, CPO, controllable nuclear fusion, cultivated diamonds, semiconductors, and photolithography concept stocks experienced the largest declines. On the market, grid equipment, photovoltaics, and energy storage sectors saw widespread declines, with stocks like LXDQ, HUAMING, and Kelu Electronics hitting their daily limit down. Many CPO concept stocks fell, with Shijia Photon dropping over 15%, and Zhongfu Circuit, Shengyi Technology, and Yongding Co., Ltd. following suit. Additionally, most stocks in the cultivated diamond, semiconductor, and motor sectors also declined. On the other hand, gas and oil and gas resource stocks rose against the trend, with Changchun Gas and Guo Xin Energy both hitting their daily limit up, and Tongyuan Petroleum, Zhongman Petroleum, and Zhun Oil Co., Ltd. also rising. The banking sector continued its recent upward trend, with Agricultural Bank of China’s stock price reaching a historical high, marking 11 consecutive days of gains. The port shipping sector also maintained its strength, with Haitong Development hitting the limit up for two consecutive days and Xiamen Port Authority also reaching the limit up