On September 24th, the A-share market experienced a general decline with all three major indexes falling collectively, and the Shanghai Composite Index closing below the key level of 3900 points. The trading volume of the Shanghai and Shenzhen stock markets has shrunk significantly by 370 billion yuan on the 23rd, and further decreased by 111.6 billion yuan.
By the close of trading, the Shanghai Composite Index fell by 1.22% to 3888.37 points; the Shenzhen Component Index dropped by 2.34% to 13316.97 points; the ChiNext Index declined by 2.68% to 3288.95 points, and the CSI 50 Index fell by 1.7%.
The market saw a decrease in trading volume. According to Wind statistics, out of all individual stocks in Shanghai, Shenzhen, and the Beijing Stock Exchange, 1119 rose while 4299 fell, with 143 remaining flat.
The total trading volume of the two markets amounted to 1.6533 trillion yuan, a decrease of 111.6 billion yuan compared to the previous trading day’s 1.7649 trillion yuan. Specifically, the trading volume in Shanghai was 783.6 billion yuan, down by 50.5 billion yuan from the previous day, while Shenzhen’s trading volume stood at 869.7 billion yuan.
Data from Dazhihui VIP showed that a total of 68 stocks in the two markets and the Beijing Stock Exchange saw gains of over 9%, while 35 stocks recorded losses of over 9%.
In terms of sectors, non-ferrous metal stocks collectively declined, with precious metals and copper industries leading the losses. PCB and CRO concept stocks performed poorly, while the real estate and building materials sectors weakened simultaneously. On the other hand, gear reducers, education, and wind power equipment sectors showed strength, while oil, coal, and banking stocks relatively resisted the decline.
The lackluster performance on the last trading day before the Mid-Autumn Festival holiday sparked discussions among investors and financial bloggers.
Investors expressed their sentiments, with some saying, “The Mid-Autumn Festival disaster! Today’s performance turned the Mid-Autumn Festival into a disaster.” Others optimistically noted, “The best thing today is the upcoming three-day holiday, A-shares won’t fall anymore!” A sense of disillusionment was shared as one investor stated, “What should have been a good move turned foul. A-shares have a tumultuous fate, fraught with human errors.”
Financial blogger “Yangfan Ruiping” commented, “Two years ago today, a series of policies were rolled out, leading to a single-day surge of over 4% in the Shanghai Composite Index, with over 5,000 stocks turning green, making September 24th a shining moment in many investors’ memories. Two years later, the scene is quite different: all three major indexes are weakening, with nearly 4000 stocks falling. The combination of shrinking volume and general decline has many calling it the ‘Mid-Autumn disaster.'”
Financial blogger “Golden Cornerstone-” lamented, “Closing with a turnover of 1.66 trillion, individual stocks generally falling, index all green, a sharp decline before the Mid-Autumn Festival, not even a rebound, is this the Mid-Autumn gift for A-share investors? Investors have already spent a lot in the stock market, so they naturally cut back in real life. The stock market plunge is suppressing consumption in this way.”