On February 2nd, the A-share market in mainland China suffered a comprehensive plunge, with all three major indexes dropping by over 2.4%. More than 4600 individual stocks experienced declines, with over 120 stocks hitting the limit-down threshold, and the daily trading volume plummeted to 2.58 trillion yuan, reaching a recent low.
At the close of trading, the Shanghai Composite Index fell by 2.48% to 4015.75 points, the Shenzhen Component Index dropped by 2.69%, the ChiNext Index fell by 2.46%, and the STAR 50 Index saw a decrease of 3.88%. Overall, over 4652 individual stocks declined, with 123 stocks hitting the limit-down threshold, and more than 600 stocks experiencing losses exceeding 5%.
The total trading volume of the Shanghai and Shenzhen stock markets was about 2.5847 trillion yuan, down by approximately 250.773 billion yuan compared to the previous trading day, reflecting strong risk-averse sentiment among investors.
The precious metals sector was hit hard by the sudden 12% drop in international gold prices and a staggering 36% plunge in silver, triggering a chain reaction. The non-ferrous metals sector plummeted by nearly 6%, with stocks like Hunan Gold and Sichuan Gold falling by the limit-down amount; the oil, gas, and semiconductor industries all experienced significant declines simultaneously.
The news of “A-share indexes plunging by over 2%” has attracted significant attention and discussion in the market, with related information quickly becoming a hot topic.
Market Participants’ Comments:
“业霞月aQ”: A-shares are just a big joke, causing stockholders to worry even during the Lunar New Year. Given this trend, it is estimated that we may see a further drop to 3800 points.
“谢信你马上到”: Tomorrow, we may see the breach of the 4000-point mark.
“小猫多乐”: Now making you lose 10,000, but when it rises before the New Year, you will earn 1,000. The news will spin it as: Ending the year on a positive note, receive red envelopes, and have a happy New Year. Same old routine.
“香菇贡丸堂吉诃德”: Every year before and after the Lunar New Year, we face stock disasters.
Caitong Securities believes that there will be intensified short-term market volatility. Jin Yuan Securities stated that there might be adjustment pressure for the overall market in the short term.