A-shares experienced a surge followed by a decline during the early session on March 31st, with all four major indices closing in negative territory. The ChiNext Index fell over 2%, while the Shenzhen Component Index and the STAR Market Composite Index both dropped more than 1%. Nearly 3,700 stocks declined across the market.
Sector-wise, the high-speed rail concept continued its strong performance. Commercial aerospace stocks bucked the downward trend, with Anhui Shenjian New Materials Co.,Ltd. achieving four consecutive trading limit-ups. Fujian-based stocks remained active.
The automobile sector strengthened, led by bus manufacturers. The baijiu (white liquor) sector also advanced. The banking sector was active, with several major banks posting gains.
On the downside, memory chip concepts suffered significant losses. Biwin Storage Technology Co.,Ltd. fell nearly 10%. According to reports, spot prices for DDR5 memory modules have seen notable declines since last week.
Additionally, sectors including coal, oil and gas, chemicals, agriculture, and computing hardware were among the worst performers.
In Hong Kong markets, the Hang Seng Index fell 0.51%, and the Hang Seng Tech Index declined 0.94%. Technology and semiconductor stocks dropped, while an appliance manufacturer rose against the trend. An AI audio chip company saw its share price more than double on its first day of trading.
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