On March 11, the Shanghai Composite Index fluctuated upwards during the session, while the ChiNext Index at one point gained over 2%. Nearly 3,300 stocks declined across the A-share market. At the close, the Shanghai Composite was up 0.25% at 4,133.43 points, the Shenzhen Component Index rose 0.78%, and the ChiNext Index advanced 1.31%. Combined trading volume for the Shanghai, Shenzhen, and Beijing stock exchanges totaled approximately 2.53 trillion yuan.
Sector performance showed declines in defense, semiconductors, pharmaceuticals, and non-ferrous metals. Gains were seen in chemical fibers, power, coal, petroleum, and chemicals. Banking, insurance, and securities sectors also moved higher. Active concepts included fertilizer, lithium batteries, green power, energy storage, and photovoltaics.
Analysts noted that the market is gradually digesting the impact of recent geopolitical events. Important recent meetings have clarified the positioning for the start of the 15th Five-Year Plan period, with policies maintaining a proactive stance, providing fundamental support for the market.
Several directions warrant attention: first, the technology growth theme, particularly cutting-edge fields like artificial intelligence and the digital economy, which benefit from policy support and industry trends; second, strategic emerging industries such as commercial aerospace, supported by the new national system; third, consumer and manufacturing sectors with solid earnings support and reasonable valuations, which may demonstrate defensive characteristics during market volatility; and fourth, opportunities arising from price fluctuations in resources due to changes in the international situation. However, attention to timing and risk control remains necessary.
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