A-shares closing review: All three major indices declined! The ChiNext Index fell more than 2%, while motorcycle and bank stocks moved against the trend higher.

China’s three major A-share indexes all fell today. By the close, the Shanghai Composite Index fell 0.8% to 3,891 points, the Shenzhen Component Index fell 1.81%, and the ChiNext Index fell 2.7%. The total turnover across the market was 2.01 trillion yuan, up by 78.3 billion yuan versus the prior trading day, and about 4,400 stocks declined.

On the trading board, Zhang Xueji took the top spot in a world-class motorcycle racing event, lifting the motorcycle concept sector; Qianjiang Motorcycle hit the daily limit. The rail transit and transportation equipment sectors strengthened, with multiple stocks such as Shenzhou High-Speed Railway and Jinxi Rail Axle hitting the daily limit. The CRO concept and medical R&D outsourcing sectors were active, and Kailaiying hit the daily limit. In addition, sectors including commercial vehicles, construction machinery, and banks were among the top gainers. Meanwhile, coal stocks collectively dropped, with Zhengzhou Coal & Power falling by more than 9%. Food and seed industry stocks fell; Nongfa Seeds led the decline. Nitrogen fertilizer and potash fertilizer stocks weakened, and Chitianhua fell by more than 9%. The lithium mining concept was sluggish, with Yibwei Lithium Energy (rights protection) leading the declines. Power stocks, industrial gases, and the supply and marketing cooperative concept were also among the top decliners.

Looking at details:

Oil and gas stocks plunged. Keli Co., Ltd. and Shouhua Natural Gas both fell by more than 8%, Tongyuan Petroleum fell by more than 7%, and Blue Flame Holding, Bomaike, Intercontinental Oil and Gas, and others followed down.

In the news, according to reports from U.S. officials, U.S. President Donald Trump told an aide that even if the Strait of Hormuz remains broadly closed, he is still willing to end military action against Iran. International oil prices tumbled; Brent crude at one point fell 2%, dropping to $104.7 per barrel, after having risen more than 2% earlier.

Coal stocks fell. Zhengzhou Coal & Power fell by more than 9%, Shaanxi Heimao, Liaoning Energy, and Yunmei Energy all fell by more than 8%, and Shanxi Coking, Lanhu Creative, and others followed down.

Food and seed industry stocks declined. Nongfa Seeds and Yasheng Group both fell by more than 7%; Suqian Nongfa, Dunhuang Seed Industry, and Jindan Technology all fell by more than 5%; and Shennong Seed Industry, Beidahuang, and others followed down.

Baijiu stocks opened higher but then weakened. Huangtai Liquor rose by more than 3%, Kweichow Moutai rose by more than 2%, and Jinzhongzi Liquor and Yili Te gained slightly. Shanxi Fenjiu and Gujing Gongjiu both fell by more than 2%.

In the news, Kweichow Moutai announced an increase in Moutai liquor prices for the first time in 2 years and 5 months. Effective March 31, 2026, the sales contract price of Feitian Moutai will be raised from 1,169 yuan per bottle to 1,269 yuan per bottle, and the retail price in the self-operated system will be raised from 1,499 yuan per bottle to 1,539 yuan per bottle.

The motorcycle concept rose. Huayang Racing rose by more than 18%, Arter rose by more than 12%, and Qianjiang Motorcycle and Zhenghe Industrial both hit the daily limit of 10cm. Xinniu Co., Ltd., Chunfeng Power, and others also followed.

Bank stocks rose collectively. Bank of China and Agricultural Bank of China rose by more than 3%, and Pudong Development Bank, Huaxia Bank, China Construction Bank, and others followed.

Looking ahead, China Galaxy stated that the evolution of the U.S.-Iran conflict still has significant uncertainty, and the suppressive effect on global risk assets is unlikely to fade in the short term. Before the conflict’s trajectory becomes clear, together with the tightening of global liquidity at the margin caused by elevated inflation expectations, global equity markets are likely to maintain the characteristics of high volatility. The A-share market may mainly digest this through consolidation. However, under external uncertainty, the domestic certainty advantage stands out, strongly supporting the resilience of the A-share market. As annual reports and Q1 reports’ performance are concentratedly released, sectors with high performance certainty and continuously improving fundamentals will become the core direction that capital focuses on.

A massive amount of information and precise analysis—available on the Sina Finance app