On March 17, amid a general rise in global stock markets, the A-share market experienced a one-sided decline in the afternoon session. All three major indices collectively fell, with the turnover in Shanghai and Shenzhen stock markets shrinking by 117.5 billion yuan compared to the previous day. Domestic capital witnessed a net outflow of 97.2 billion yuan throughout the day, with a net outflow of 60.373 billion yuan from main funds.
By the close of trading, the Shanghai Composite Index fell by 0.85% to 4049.91 points, the Shenzhen Component Index dropped by 1.87% to 14039.73 points, the Growth Enterprise Market Index plummeted by 2.29% to 3280.06 points, and the ChiNext Index decreased by 2.23% to 1354.15 points.
Statistics from Wind showed that a total of 863 stocks in Shanghai and Shenzhen stock markets and the Beijing Stock Exchange rose, while 4541 stocks fell, with 81 stocks remaining unchanged.
On the market front, most of the 31 Shenwan first-level industry sectors experienced declines, with only non-banking financials, banks, food and beverage, and real estate sectors showing gains of 1.28%, 0.85%, 0.55%, and 0.37% respectively. The top decliners included the communications, electronics, and defense industries, which saw decreases of 4.69%, 2.97%, and 2.57% respectively.
According to Securities Times Data Bao, main funds in the A-share market saw a net outflow of 60.373 billion yuan throughout the day, with a net outflow of 28.582 billion yuan from the Growth Enterprise Market and a slight net inflow of 1.51 billion yuan in the Science and Technology Innovation Board.
By industry perspective, there were 7 industries at the Shenwan first-level with net inflows of main funds, led by non-banking financials with an inflow exceeding 1 billion yuan at 11.99 billion yuan, followed by automobiles, steel, and light manufacturing. The communications industry witnessed a net outflow of main funds exceeding 10 billion yuan, while electronics and power equipment saw outflows exceeding 8 billion yuan each.
21st Century Business Herald reported that fund outflows hit hardware concept stocks. Looking at individual stocks, 55 stocks had main fund inflows exceeding 1 billion yuan, with 14 of them exceeding 3 billion yuan. On the contrary, 211 stocks had main fund outflows exceeding 1 billion yuan, with 27 of them exceeding 4 billion yuan.
In terms of late afternoon outflows, 15 stocks had main fund outflows exceeding 1 billion yuan, with several popular stocks among them. Hua Gong Technology remained at the top of the list with an outflow of 3.59 billion yuan, followed by Yang Guang Power, Zhong Ji Xuchuang, and Sheng Hong Technology, all with outflows exceeding 2 billion yuan.
Furthermore, according to East Fortune Network, the Shanghai Composite Index recorded its fourth consecutive decline today, marking the first time since early last year (December 31, 2024, to January 6, 2025). In the past year, the Shanghai Composite Index has often stabilized and rebounded after three consecutive declines.
The A-share market once again trended on Weibo’s hot searches.
Financial blogger and Weibo influencer “Old White in Action” remarked, “Today’s market situation is really beyond words… The main funds sold a net 97.2 billion throughout the day, and this number made my heart tighten.
“In the morning, it was just a minor skirmish, with the market barely holding on. However, the main funds directly flipped the table in the afternoon, causing a rapid plunge in the market. It was truly a drastic decline, where no one could escape.
“Tech stocks became the hardest-hit area today, it’s pitiful to watch. Leading players like Hua Gong Technology, Tianfu Communications, and Zhaoyichuangxin, which were once popular, were all pressed onto the decliners list by main funds. Hengtong Optic-Electric, Xin Yisheng, and Zhong Ji Xuchuang were also among the top outflows, falling sharply.”
Financial blogger and Weibo influencer “Chen Dajun Sees the Market” stated, “On March 17, A-share market staged a textbook-level ‘lure many, dive’ scenario. In the morning session, the three major weights of finance, real estate, and liquor jointly pushed the Shanghai Composite to an intraday high of 4108.40 points. The market seemed to be in good shape, with incremental funds seemingly ready to enter. Many retail investors were still dreaming of further highs without realizing that a stealth war of main fund shipments had already begun. Subsequently, the index unilaterally probed lower, with all three major indices closing down. The Shanghai Composite broke through the 60-day moving average at around 4067 points, closing at 4049.91 points, a daily decline of 0.85%; the Shenzhen Component Index fell sharply by 1.87%, the ChiNext Index plummeted by 2.29%, becoming the deepest decliner. Even more glaring was that over 4500 stocks across the market ended in losses, with profit-taking reaching its freezing point. The total turnover of the Shanghai, Shenzhen, and Beijing markets amounted to 2.2246 trillion yuan, a significant decrease of 115.3 billion yuan from the previous trading day, and the wait-and-see sentiment of existing funds reached its peak.”
Weibo influencer “Seeking the Way Through Stock Investment” commented, “Stock markets have mostly been on a downward trend this March, giving a sense of unexpected chill in the spring market.”
Weibo influencer “Old Stock Investor Da Zhang” remarked, “With a global surge, today’s A-shares actually closed in the red on shrinking volume, truly stepping into an independent market trend!”