The Zhitong Finance App learned that on November 6, the three major A-share indices collectively opened sharply lower. The decline narrowed for a while in early trading. The Shenzhen market weakened again in the afternoon, and the Shanghai index basically leveled off. Except for a brief period of red in the Science and Innovation 50 market, the remaining indices did not turn red throughout the day, and all five major indices fell at the close. At the close, the Shanghai Stock Exchange Index fell 1.10% to 3649.18 points, the Shenzhen Securities Index fell 2.57% to 11175.78 points, the GEM index fell 3.96% to 2465.23 points, Science and Technology Innovation 50 fell 2.60% to 1253.20 points, and the Beijing Stock Exchange 50 fell 2.37% to 888.48 points. The turnover of the Shanghai and Shenzhen markets was 1657.793 billion yuan, down 460.160 billion yuan from the previous trading day. 758 A-shares in the Shanghai and Shenzhen markets rose, 4,741 fell, and 80 were flat. Of these, 33 rose or stopped, and 15 fell to a halt, accounting for about 13% of the rising stocks.
In terms of sectors, agricultural and commercial banks, white goods, electricity, planting, urban commercial banks, railways and highways registered the highest gains; components, communication equipment, glass and fiberglass, medical services, non-metallic materials, and electronic chemicals registered the highest declines.
driving factors
Overnight, US stocks fell sharply. On November 5, the Dow Jones Industrial Index fell 3.44% to 51523.06 points, the S&P 500 index fell 4.36% to 7353.73 points, the NASDAQ Composite Index fell 5.52% to 24315.00 points, the NASDAQ 100 index fell 6.36%, the biggest one-day decline since March 2020. Chaowei Semiconductor fell 17.26% and Micron Technology fell 17.46%; Xinhua News Agency quoted analysts as saying that the sharp decline in US stocks was brought about by the midterm election results Driven by change, it is also linked to the risk of excessive investment in artificial intelligence.
Domestically, on November 6, the National Development and Reform Commission held the third press conference in the Endeavour “15th Five-Year Plan” series. Huhe, deputy director of the Department of Rural Economy, stated that it would stabilize farmers' income expectations from growing grain and improve the benefit compensation mechanism for major grain-producing regions. Ge Ju, deputy director of the Development Planning Department of the National Energy Administration, said that electricity demand during the “15th Five-Year Plan” period increased by an average of about 600 billion kilowatts per year, and the adjustment capacity of virtual power plants reached more than 50 million kilowatts in 2030.
On November 5, the National People's Congress Network released the “State Council Report on Financial Work”, proposing to support the Central Huijin Company to play the role of an equalization fund and broaden medium- to long-term funding sources, channels, and market entry methods. In the afternoon of the same day, more than 10 companies, including Zhongji Xuchuang, Xinyisheng, Tianfu Communications, Lixun Precision, Haiguang Information, and Dongshan Precision, centrally disclosed repurchase-related announcements. Zhongji Xuchuang said that major customer orders had basically covered the whole of 2027. Xinyisheng claimed that it had repurchased about 800 million yuan as of November 5, and Tianfu Communications said it would hold a shareholders' meeting on November 9 to consider the repurchase plan.
On the market, the Shanghai Index opened 3612.15 points lower, corresponding to a decline of 2.11%, a minimum of 3610.20 points, and the closing decline narrowed to 1.10%; the highest 1288.38 points and corresponding increase of 0.13% in the Science and Innovation 50 market. It was the only index that turned red during the day, closing down 2.60%; the opening of the GEM Index at 2438.72 points was the lowest throughout the day, corresponding to a decline of 4.99%.
Popular sector aspects
1. [Planting Industry and Food]
The Shenwan Planting Index rose 1.29%, the GM concept rose 1.83%, the cotton concept 1.50%, and the corn concept rose 1.19%; Xinsai shares, Wanxiang Denong, and Dongfang Ocean rose and stopped. Among them, Wanxiang Denong had 2 markets in 3 days, and Qiule Seed Industry rose 11.54%. In terms of catalysis, at the press conference of the National Development and Reform Commission on November 6, Huhe, deputy director of the Department of Rural Economy, proposed focusing on reducing costs, preventing risks, stabilizing prices, and increasing efficiency in grain production, stabilizing farmers' income expectations from growing grain, and improving the compensation mechanism for major grain-producing regions. At the press conference on the same day, Tang Yi, deputy director of the Economic Operation Regulation Bureau of the National Development and Reform Commission, said that due to the strong El Niño incident, it is expected that China's temperature will be high overall this winter, but there will be a slight increase in cold and warm waves. Also, according to data from the Thai Rice Exporters Association, as of this Wednesday, the price of 5% crushed white rice in Thailand has risen to 499 US dollars per ton, the highest level since December 2024.
2. [Electricity and Green Electricity]
The Shenwan Electric Power Index rose 1.30% and the utility index rose 1.20%; Xinneng Shares and Renewable Energy rose and stopped; Leshan Electric Power hit an intraday rise and closed 8.25%; Changjiang Electric Power rose 2.15%; and Dongfang Xinneng in the utilities sector rose and stopped. On the catalytic side, Ge Ju, deputy director of the Development Planning Department of the National Energy Administration, said at a press conference on November 6 that the country's electricity consumption load hit the historical extreme value four times during the peak summer season. The average annual increase in electricity demand during the “15th Five-Year Plan” period, driven by emerging industries such as computing power, will drive the regulation capacity of virtual power plants to reach more than 50 million kilowatts in 2030, and the installed scale of the new energy storage system will reach 300 million kilowatts.
3. [Banks and Dividend Assets]
The Shenwan Bank Index rose 1.05%, with agricultural and commercial banks up 1.82%, ranking first in Shenwan's second-tier industry. Urban commercial banks rose 1.26%, large state-owned banks rose 1.06%; Shanghai Agricultural Commercial Bank rose 4.27%, China Construction Bank rose 2.14%, Bank of Nanjing rose 1.82%, SPD Bank rose 1.62%, and Industrial and Commercial Bank rose 1.08%. According to the news, the “State Council Report on Financial Work” released by the National People's Congress Network on November 5 proposed implementing monetary policy tools to support the capital market and supporting the Central Huijin Company to play the role of an equalization fund to broaden medium- and long-term funding sources, channels, and market entry methods; on the same day, the railway and highway index rose 1.25%, the coal index rose 0.27%, and traffic in Longjiang stopped.
Adjust the section
The Shenwan Component Index fell 7.13%, communication equipment fell 6.24%, glass fiber fell 4.65%, medical services fell 4.18%, non-metallic materials fell 4.00%, electronic chemicals fell 3.84%, other electronics fell 3.79%, consumer electronics fell 3.57%, semiconductors fell 3.34%, batteries fell 3.09%, and communications in Shenwan's primary sector fell 4.93% and electronics fell 3.90%. In terms of individual stocks, Puran shares fell 10.62%, Shengyi Technology fell 9.37%, Zhongji Xuchuang fell 9.19%, Zhaoyi Innovation fell 8.99%, Lanqi Technology fell 8.36%, IFF fell 8.08%, Cambridge Technology and Zhenghe Industrial stopped, Zijin Mining fell 4.07%, and offshore protein fell 13.29%. Communications equipment and components rose 8.91% and 9.14% respectively on November 4, and semiconductors rose 11.41% on the same day. On November 5, communication equipment and components fell by 2.83% and 2.40%, respectively, with the highest decline on the day.
According to the news, the Philadelphia Semiconductor Index fell 12.25% on November 5, the biggest one-day decline since March 2020. The Nasdaq 100 Index fell 6.36%, while Micron Technology and Chaowei Semiconductor fell 17.46% and 17.26% respectively.