The A-shares index drops in the short term, with the ChiNext Index falling by more than 1%. Nearly 3,000 stocks declined, with automotive semiconductors leading the decline; northbound funds net sold nearly 860 million.

March 6｜China A-share indexes fall in the short term; the ChiNext Index’s decline widens to more than 1%, the Shenzhen Component Index drops 0.81%, and the Shanghai Composite Index falls 0.34%. Semiconductor chips, the auto industry chain, and broad AI-related directions lead the declines, with nearly 3,000 stocks falling across the Shanghai, Shenzhen, and Beijing markets.

In the A-share market, the concept of new quality productive forces rises; AO Intelligent, Tairui Co., Ltd. (002347), and Huadong Heavy Machinery (002685) hit the daily trading limit, Denn Precision Machinery (300780) rises by more than 10%, and stocks including Jinzi Tiancen Zhengyang (600560), Dongfang Precision Machinery (002611), and Denn Precision Machinery approach the daily trading limit. In terms of news, the National Development and Reform Commission released a draft of the 2024 national economic and social development plan, which mentions that it is necessary to use technological innovation to lead the development of a modern industrial system and accelerate the formation of new quality productive forces.

The A-share photovoltaic sector rises; Angcai Hi-Tech (600207) and Jiangsu Huachen hit the daily trading limit, and Tresho New Materials (300554) jumps by more than 10%. Stocks such as Yubang New Materials, Kingkong Photovoltaics, and Jiajuyou Holdings (300117) also follow higher.

The A-share flying car sector jolts upward; Jindun Shares (300411) rises by more than 18%, and stocks such as Wanxiang Aowei (002085), Shangluo Electronics, Wangzi New Materials (002735), and Guangyang Shares (002708) also follow higher.

A-share consumer electronics concept stocks collectively pull back; Zhuoyi Technology (002369) falls by more than 5%, while Furi Electronics (600203), Luxshare Precision Industry (601138), and Luxond Technology (300735) also decline.

The A-share new-type industrialization concept strengthens; AO Intelligent 20% hits the daily trading limit, and stocks such as Denn Precision Machinery, Huadong Heavy Machinery, Jinzi Tiancen Zhengyang, and Dongfang Precision Machinery lead in gains.

The A-share education sector rises; Oriental Fashion (603377) hits the daily trading limit, and stocks such as Kaivation Education, Angli Education (600661), Meijim (002621), and Chuantong Education also follow higher. In terms of news, in 2023, China’s gross enrollment rate in higher education was 60.2%, up by 0.6 percentage points from the previous year, completing the “14th Five-Year Plan” targets ahead of schedule.

In the A-share market, the hydrogen energy sector rises early; Nair Shares (002825) and Evergrande Hi-Tech (002591) hit the daily trading limit, Tianyuan Intelligent attempts to hit the daily trading limit, and stocks such as Xin Nankang Technology, New Power (310328), and Ehua Tong also follow higher. In terms of news, this year’s government work report first mentioned hydrogen energy as an emerging energy source. The report points out, “We need to accelerate the development of industries such as frontier emerging hydrogen energy, new materials, and innovative drugs.”

The A-share steel sector fluctuates and strengthens; Shagang Shares (002075) hits the daily trading limit, and CITIC Special Steel, Linggang Shares (600231), Hang Steel Shares (600126), Chongqing Iron & Steel (601005), Shandong Iron & Steel (600022), and others also follow higher.

Northbound capital net sells nearly 860 million.

(Editor: Song Zheng HN002)

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