The Zhitong Finance App learned that on August 24, the three major A-share indices collectively closed down, with the GEM Index and Science Innovation 50 leading the decline. At the close, the Shanghai Stock Exchange Index fell 0.59% to 3882.01 points, the Shenzhen Securities Index fell 2.13% to 13794.29 points, the GEM index fell 3.21% to 3431.89 points, Science and Innovation 50 fell 3.10% to 1602.34 points, and the Beijing Stock Exchange 50 fell 2.02% to 1053.62 points. The turnover of the Shanghai and Shenzhen markets was about 2.01 trillion yuan, an increase of about 128.2 billion yuan compared to the previous trading day. In the entire market, 1,460 stocks rose and 3,965 fell, rising and stopping 48 and falling 11, accounting for about 26% of the rising stocks. In terms of sectors, coke (+5.39%), insurance (+2.58%), coal mining (+2.17%), planting (+2.06%), and precious metals (+1.38%) had the highest gains; glass fiberglass (-5.30%), communications equipment (-5.21%), medical services (-4.31%), components (-4.18%), and semiconductors (-3.13%) had the highest declines.
driving factors
On the same day, the three major indices collectively closed down. The GEM index fell 3.21%, led the decline by 3.10%, and the Shanghai Composite Index fell 0.59% to relatively resist the decline. The turnover of the two markets was about 2.01 trillion yuan, compared to the previous day's volume of about 128.2 billion yuan. Individual stocks rose by about 26% in the entire market. In terms of coal, the first round of increases in coke came on August 24 (50 yuan/ton for wet coking, 55 yuan/ton for dry coking), and the main coking coal contract of the Grand Chamber of Commerce rose by more than 2% to hit 1,600 yuan/ton, a record high since October 2024. According to data from the National Bureau of Statistics, the country's raw coal production was 340 million tons in July, down 10.1% year on year. In terms of precious metals, spot gold once surpassed 4,650 US dollars/ounce in the intraday market, the US Treasury expanded the scale of long-term treasury bond repurchases, and the US dollar weakened. On the technology side, semiconductors, communication equipment, components, etc. had the highest declines. Zhongji Xuchuang fell 7.72% and Tianfu Communications fell 8.63%. The Daily Economic News Review believes that “there was no significant shortfall in fundamentals” on the same day. Asia-Pacific technology stocks were weak overall, and the Hong Kong stock Hang Seng Technology Index fell nearly 4% intraday. In terms of shipping, Iran's Persian Gulf Strait Authority issued new regulations for navigation control in the Strait of Hormuz on August 23. Combined with the Panama Canal's tightening of daily ship traffic quotas in September, Nakagaya logistics rose to a standstill, and Jinjiang shipping increased by more than 8%.
Popular sector aspects
1. [Coal] Coke and coal stocks bucked the trend, and Shenwan's coke sector rose 5.39%, ranking first in the second-tier industry. Shanghai Energy, Dayou Energy, and Meijin Energy went up and down, while Xinji Energy, Haohua Energy, and the Shaanxi coal industry followed suit. Catalysis was the first round of increases in coke, and the main coking coal contract rose by more than 2% to hit a record high of 1,600 yuan/ton since October 2024. In July, the country's raw coal production fell 10.1% year on year.
2. [Precious Metals] Gold and silver stocks continued to strengthen. Hunan Baiyin, Baiyin Nonferrous, and Shenzhen China A rose and stopped, while Shengda Resources rose 8.88%. The catalyst was for spot gold to break through 4,650 US dollars/ounce in the intraday market, the US Treasury expanded the scale of long-term treasury bond repurchases, and the dollar weakened.
3. [Agricultural Farming] Agricultural stocks were strong throughout the day, and the Shenwan planting sector rose 2.06%. Tianshan Biotech went up and down in 20CM, and the Denghai seed industry went up and down, while Qiule Seed Industry, Wanxiang Denong, and Shennong Seed Industry followed suit. The catalyst is that the British Meteorological Service predicted on August 21 that this year's El Niño phenomenon may be the strongest since modern meteorological records were recorded. Shen Wan Hongyuan suggested that agricultural products would cut production and price increases.
Adjust the section
Sectors such as semiconductors, communication equipment, components, glass glass fiber, and medical services had the highest declines. Among them, communication equipment fell 5.21% and glass and glass fiber fell 5.30%. In terms of individual stocks, Gongjin shares fell to a halt. Zhongji Xuchuang fell 7.72%, Xinyisheng fell 6.79%, Tianfu Communications fell 8.63%, and Cambrian fell 6.37%. The above directions all showed significant gains in the previous period. The decline on the same day was the highest, and the market showed clear sector rotation.