Shanghai Composite Index Adds 7pts for Day as Chinese Banks Stay Firm, Grain Concept Stocks Rally
I'm LongbridgeAI, I can summarize articles.China's A-share markets showed mixed performance on Aug 18. The Shanghai Composite Index rose 0.19% to 3,990, reversing morning losses, while Shenzhen and ChiNext indices fell. Banking stocks remained firm, whereas many semiconductor and tech shares declined. Grain-related concept stocks rallied sharply due to El Nino-driven food crisis warnings from JPMorgan, with several hitting limit up. Pork-related stocks also saw gains.
China's three major A-share indices opened narrowly lower this morning (18 Aug), down about 0.1% to 0.25%. Losses widened during the morning session, while market trends turned volatile in the afternoon, with the Shanghai Composite Index reversing to gains. The Shanghai Composite Index closed up 7 pts, or 0.19%, at 3,990, with turnover of RMB1.14 trillion. The Shenzhen Component Index fell 81 pts, or 0.56%, to close at 14,622, with turnover of RMB1.27 trillion. The ChiNext Index dropped 34 pts, or 0.92%, to 3,705, with turnover of RMB606.083 billion.
Major Chinese banking stocks stayed firm. ICBC (601398.SH) +0.110 (+1.455%) rose 1.5%, CCB (601939.SH) +0.130 (+1.262%) gained 1.3%, and CMB (600036.SH) +0.090 (+0.236%) added 0.2%. CHINA PACIFIC INSURANCE (601601.SH) -0.170 (-0.564%) and PING AN OF CHINA (601318.SH) -0.480 (-0.927%) fell 0.6% and 0.9%, respectively, while CHINA LIFE (601628.SH) -0.650 (-1.729%) declined 1.7%. BYD Company (002594.SZ) -0.350 (-0.389%) slipped 0.4% and CONTEMPORARY AMPEREX (300750.SZ) -3.720 (-0.930%) fell 0.9%.
SMIC (688981.SH) -1.780 (-1.302%) dropped 1.3%, while HUA HONG GRACE (688347.SH) -5.400 (-2.001%) declined 2%. AI chip stock CAMBRICON (688256.SH) +6.500 (+0.562%) rose 0.6%. Domestic GPU stocks METAX (688802.SH) -15.890 (-2.022%) and MOORE THREADS (688795.SH) -11.100 (-1.881%) fell 2% and 1.9%, respectively. LQKJ (688008.SH) -6.370 (-2.839%) dropped 2.8%, while YANGTZE OPTICAL FIBRE (601869.SH) +7.060 (+1.875%) gained 1.9%. GIGADEVICE (603986.SH) -7.260 (-1.635%) , which released results today, fell 1.6%. Semiconductor testing stock SEMIGHT INSTRUMENTS (688808.SH) +117.000 (+5.188%) surged 5.2%. CXMT (688825.SH) -2.610 (-4.223%) declined 4.2%.
Semiconductor IP leader VERISILICON (688521.SH) -13.000 (-5.745%) slumped 5.7% after its 1H26 revenue surged 91.4% YoY to RMB1.864 billion, while losses widened 91% YoY to RMB612 million.
Amid the impact of the El Nino phenomenon, JPM warned that a food crisis may erupt next year, driving a sharp rally in grain-related concept stocks. JINJIAN CEREALS IND (600127.SH) +0.650 (+10.062%) , CADSG (600313.SH) +0.620 (+10.065%) , SHENNONG SEED INDUSTRY (300189.SZ) +1.040 (+20.039%) , JINGLIANG HOLDINGS (000505.SZ) +0.620 (+10.049%) , DABEINONG (002385.SZ) +0.310 (+10.098%) and BLACK SESAME (000716.SZ) +0.530 (+10.038%) all hit limit up. Pork-related stocks were also active, with TECH-BANK FOOD (002124.SZ) +0.230 (+10.132%) and LUONIUSHAN (000735.SZ) +0.560 (+9.964%) hitting limit up, while WENS (300498.SZ) +0.430 (+3.192%) rose 3% and MUYUAN (002714.SZ) +0.640 (+1.629%) gained 1.7%. (jl/a)(A Shares quote is delayed for at least 15 mins.)