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On March 10, the three major A-share indices opened higher collectively. After a quick rise at the beginning of the session, the two markets experienced high-level fluctuations in the morning. In the afternoon, both markets rose steadily, with significant gains at the close.
From the market perspective, the computing power hardware sector surged, with CPO and circuit boards leading the gains; semiconductor equipment, photovoltaics, robotics, consumer electronics, innovative drugs, commercial aerospace, and cybersecurity concept stocks were active. The oil and gas, coal, and chemical sectors showed noticeable pullbacks.
By the close, the SSE Composite Index rose by 0.65%, closing at 4123.14 points; the STAR 50 Index rose by 2.16%, closing at 1420.54 points; the Shenzhen Component Index rose by 2.04%, closing at 14354.07 points; the ChiNext Index rose by 3.04%, closing at 3306.14 points.
According to Wind statistics, a total of 4531 stocks rose in the two markets and the Beijing Stock Exchange, while 850 stocks fell, and 103 stocks remained flat.
The total trading volume of the Shanghai and Shenzhen markets was 239.79 billion yuan, a decrease of 24.96 billion yuan from the previous trading day's 264.75 billion yuan. Among them, the Shanghai market traded 103.64 billion yuan, down 15.77 billion yuan from the previous trading day's 119.41 billion yuan, while the Shenzhen market traded 136.15 billion yuan.
According to Dazhihui VIP, there were 112 stocks in the two markets and the Beijing Stock Exchange with gains of over 9%, while 9 stocks had declines of over 9%.
Oil and petrochemical stocks plummeted, while the electronics sector saw a surge in limit-up stocks
From the sector perspective, oil and petrochemical stocks fell sharply, with Qianeng Hengxin (300191), Tongyuan Petroleum (300164), Zhun Oil Co., Ltd. (002207), and Intercontinental Oil &amp; Gas (600759) hitting the limit down or falling over 10%. Yuxin Co., Ltd. (002986), Sinopec Oilfield Service (600871), and Taishan Petroleum (000554) fell over 7%. Guojin Securities pointed out that the current oil price trend is dominated by geopolitical conflict risks, with the blockade of the Strait of Hormuz exceeding market expectations, and crude oil supply escalating to a &#34;substantial blockade.&#34; The short-term oil price will depend on the duration of the conflict and the progress of restoring navigation in the strait. If the blockade lasts longer than expected, it will lead to escalating panic in the crude oil market. As global crude oil inventory buffers are consumed, the geopolitical risk premium will push to extreme levels, but if navigation is restored in the short term, the premium may quickly dissipate.
Coal stocks fell significantly, with China Coal Energy (601898) and Jiangxi Tungsten Industry (600397) falling over 6%, while Shanxi Coking Coal (600740), Gansu Energy Chemical (000552), Lanhua Sci-Tech (600123), Haohua Energy (601101), and Yanzhou Coal Mining (600188) fell over 4%.
Steel stocks opened high but closed low, with Hainan Mining (601969) falling over 9%, and Anyang Iron &amp; Steel (600569), Ordos (600295), Linggang Co., Ltd. (600231), Zhongnan Co., Ltd. (000717), and Benxi Steel Plate (000761) falling over 2%
The electronics sector has seen a surge in limit-up stocks, with nearly 30 stocks including Zhongying Technology (300936), Changguang Huaxin (688048), Xunjiexing (688655), Fuxin Technology (688662), Yihau New Materials (301176), Youxun Co., Ltd. (688807), and Huahai Chengke (688535) hitting the limit or rising over 10%.
Telecommunication stocks have risen sharply, with more than 10 stocks including Dekeli (688205), Feiling Kesi (301191), Tianfu Communication (300394), Meixin Technology (301577), Dingxin Communication (603421), Changjiang Communication (600345), and Erliushi (002467) hitting the limit or rising over 10%.
The machinery and equipment sector opened high and continued to rise, with more than 10 stocks including Kaishan Co., Ltd. (300257), Gaolan Co., Ltd. (300499), Oke Yi (688308), Zhongyou Technology (688648), Zhongnan Culture (002445), Huanghe Xuanfeng (600172), and Xizhuang Co., Ltd. (001332) hitting the limit or rising over 10%.
Before the end of April, a wide range of fluctuations is likely to dominate
Zhongyuan Securities believes that the recent escalation of the Middle East situation has triggered turmoil in global capital markets, and the surge in oil prices has raised concerns about &#34;stagflation,&#34; suppressing risk appetite. Considering that the domestic macro policy tone has become clearer, it provides a solid bottom support for the market. The central bank has clearly stated that it will flexibly use tools such as reserve requirement ratio cuts and interest rate reductions to maintain ample liquidity; at the same time, it supports the Central Huijin Investment Ltd. to play a role similar to a &#34;stabilization fund,&#34; boosting market confidence in the subsequent trends. It is expected that the SSE Index will likely maintain slight fluctuations, and it is recommended to closely monitor macroeconomic data, changes in overseas liquidity, and policy trends.
Caixin Securities believes that on that day, the A-shares adjusted against the backdrop of most major global markets adjusting, but compared to markets like Japan and South Korea, it showed more resilience, with decent momentum for support, and the index managed to rebound from the bottom. Additionally, there are continuously good-performing thematic sectors, with localized profit-making effects. In the short term, overseas macro disturbances will continue to impact A-shares, and technically, the three major A-share indices have not yet formed an upward trend again. Therefore, it is advisable to continue to reasonably control positions and wait for clear warming signals from the market. In the medium term, the impact of overseas macro events is still present, and it is expected that a trending market will still need to wait. Before the end of April, the A-share market is likely to be dominated by wide fluctuations, with increased volatility expected. It is recommended to reasonably control positions and wait for spontaneous turning point signals from the market. However, it should be emphasized that in recent years, regulatory authorities have strengthened strategic force reserves and the construction of market stabilization mechanisms to fully maintain stable market operations. The volatility of the A-share market has significantly decreased, and it is expected that A-shares will still show strong resilience relative to the external stock markets, so there is no need for excessive worry.
Dongwu Securities believes that there is certain support around 4050 points on the SSE, and in the short term, it may continue to maintain a state of consolidation. The main risks currently facing the market come from external factors, whether it is the US-Iran conflict or fluctuations in the US stock market. If there are significant changes in the news, it will still transmit to A-shares, so it is important to pay attention to changes in the US stock market
CITIC Construction Investment believes that this round of adjustment is essentially a result of high-level capital cashing out, rising risk aversion, and the resonance of policy line switching, rather than a trend weakening. Domestic economic data is showing signs of recovery, and the policy support is clear, coupled with reasonable liquidity, which limits the downward space of the market. In the short term, it will mainly be characterized by structural fluctuations. As Trump begins to signal a ceasefire, expectations for easing in the Middle East situation are likely to emerge, and the market is expected to gradually unfold a weak recovery trend. Overall, the current adjustment is a healthy consolidation during the upward trend, and there is no need for excessive pessimism. Once the policies from the Two Sessions are implemented and risk appetite gradually increases, the market is expected to regain upward momentum. In terms of operations, one should focus on structure rather than index, firmly adhere to the main lines of policy and performance, and patiently wait for rotation opportunities.
Shenwan Hongyuan Research's Chief Analyst for A-share Strategy, Fu Jingtao, believes that changes in the external market are one of the core factors for the recent fluctuations in A-shares. Oil transportation in the Strait of Hormuz has recently come to a standstill, leading to a surge in oil prices and upward pressure on inflation expectations, increasing market uncertainty. This uncertainty resonates with the &#34;HALO trading,&#34; resulting in a general decline in global risk appetite. In the medium to long term, many variables still exist, but the clues reflected in short-term asset prices are relatively singular. This means that the short-term adjustment trend is brewing the forces of mispricing and overselling

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On March 10th, the A-shares opened high and rose, with the SSE Composite Index recovering 4,100 points, up 0.65%, closing at 4,123.14 points. The computing hardware sector performed prominently, with CPO and circuit boards leading the gains, while semiconductor equipment and photovoltaic concept stocks were active. The total transaction amount was 2,397.9 billion yuan, a decrease of 249.6 billion yuan compared to the previous trading day. The oil and petrochemical sector fell sharply, with Guojin Securities analyzing that the oil price trend is dominated by geopolitical conflict risks, and the short-term oil price will depend on the duration of the conflict

腾讯新闻 - 财经

SSE Index

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Penghua Guozheng Semiconductor Chip ETF

Guotai SSE STAR Chip Design Thematic ETF

Huatai-PB CSI Photovoltaic Industry ETF

A-shares opened high and rose further, with the Shanghai Composite Index recovering 4,100 points: computing hardware sector surged, with over 4,500 stocks rising