Chinese A-shares saw a broad advance on Friday, September 18, with major indices climbing on higher trading volume. The Shanghai Composite Index rose nearly 1% to close above the 3900-point threshold.
The benchmark index ended the session at 3911 points, up 0.94%, while the Shenzhen Component Index gained 1.72% to reach 13640 points. The ChiNext Board Index advanced 2.25%, closing at 3372 points. Combined turnover on the Shanghai and Shenzhen exchanges totaled approximately 2.0771 trillion yuan, increasing by around 254.0 billion yuan compared with the prior trading day.
Yang Delong, chief economist at Qianhai Open-End Fund, noted that following the earlier correction, the process of "de-bubbling" in tech stocks is largely complete. The market has essentially priced in high valuations for technology shares as well as expectations for a US Federal Reserve rate hike, creating strong momentum for a rebound. August economic data indicates that new quality productive forces are playing an increasingly significant role in economic growth. Semiconductor and other tech sectors that experienced sharp pullbacks earlier are well-positioned for renewed strong performance going forward.
On the macro front, Fu Linghui, spokesperson for the National Bureau of Statistics, said recently that China's industrial upgrading, research capabilities, and technological strength continue to improve. The global competitiveness of high-value-added products and green products is steadily strengthening, increasingly serving as a key driver of export growth. From January to August, exports of high-tech products rose 37.1% year-on-year, with integrated circuit exports surging 95.4% during the period.
In sector performance, the semiconductor segment jumped 4.35% on Friday, leading gains, according to data from financial information provider East Money. Among individual stocks, Torrence, Dongwei Semiconductor, Huafeng Testing Control, and StarChip Technology all advanced more than 10%.
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