Market Overview
On August 6, China's three major stock indices opened lower but briefly recovered, with the ChiNext Index rising over 1% intraday before reversing course and falling back into a volatile downturn. The market displayed a mixed pattern, with indices diverging in direction while individual stocks broadly declined. As of the midday close, the Shanghai Composite Index inched up 0.01% to 3,878.92 points, the Shenzhen Component Index fell 0.52% to 14,070.78 points, and the ChiNext Index dropped 0.67% to 3,511.47 points. The STAR 50 Index slipped 0.16%, and the Beijing Stock Exchange 50 Index declined 0.38%. More than 3,700 stocks fell, while only about 1,700 advanced. Total half-day turnover across the market reached approximately 1.77 trillion yuan, up about 62.6 billion yuan from the previous trading session. Net capital outflows from major funds totaled roughly 32.2 billion yuan for the half-day session.
Sector Highlights
On the upside, the precious metals sector performed strongly, with 金一文化 and 盛达资源 both hitting their daily trading limits for a second consecutive session. The digital currency concept saw a sudden surge, with 飞天诚信 jumping 20% to its daily limit, while 恒宝股份, 楚天龙, and 翠微股份 also reached their daily limit highs. The 6G concept strengthened intraday, with 通宇通讯 hitting its daily limit and 广哈通信 surging 20% to its limit. The coal mining and processing sector rebounded, with 昊华能源 hitting its daily limit. The PCB (Printed Circuit Board) concept recovered, with 宝鼎科技 rising for the fifth time in four days, and 景旺电子 and 方正科技 both reaching their daily limits. On the downside, the automobile manufacturing sector weakened, led by 北汽蓝谷. The power and grid sector underwent a collective adjustment, with 新能股份 falling over 4% and 长缆科技 declining. The education and securities sectors also weakened. Overall, capital flows favored safe-haven and resource sectors such as precious metals and coal, while previously active sectors like power and automobiles experienced profit-taking.
Hot Sector 1: Precious Metals Show Strong Performance
The precious metals sector displayed robust strength, with 金一文化 and 盛达资源 both achieving their second consecutive daily limit highs. 招金黄金, 中金黄金, and 赤峰黄金 also posted notable gains. Commentators noted that spot gold briefly surpassed the 4,300 U.S. dollars per ounce mark during the session, the first time since June 18 of this year. Domestic gold jewelry prices followed suit, with 老凤祥 quoting 1,293 yuan per gram, up 56 yuan for the day; 老庙黄金 quoting 1,299 yuan per gram, up 63 yuan; and 周生生 quoting 1,295 yuan per gram, up 58 yuan. According to statistics from the China Gold Association, domestic gold ETF holdings reached 276.529 tons in the first half of 2026. As of the end of June, China's gold reserves stood at 2,346.45 tons, marking 20 consecutive months of gold accumulation.
Hot Sector 2: 6G Concept Strengthens Intraday
The 6G concept strengthened during the session, with 通宇通讯 surging to its daily limit just two minutes after the opening bell. 广哈通信 jumped 20% to its daily limit, while 武汉凡谷 and 沃格光电 also hit their daily limit highs. Commentators attributed the move to NVIDIA accelerating its entry into the telecom operator market and seeking partners among Chinese base station manufacturers to develop 6G base stations meeting international market requirements. NVIDIA believes that computing power will soon need to be transmitted from data centers to a vast number of AI terminals and users, ultimately relying on wireless transmission via base stations. The reports mentioned that 深圳佳贤通信, a company recently acquired by 通宇通讯, is a key partner in this effort.
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