On Friday, May 29th, mainland A-shares once again experienced a widespread decline, with all four major stock indices collectively falling and semiconductor-related sectors leading the losses. The technology sector saw significant drops with semiconductor, advanced packaging, lithography equipment, and computing hardware among other technology-related sectors experiencing declines.
According to a report by “First Financial” on May 29th, the A-share market fluctuated downward during the day, with the technology sector experiencing larger declines. Specifically, semiconductor-related sectors showed significant drops, with advanced packaging and lithography equipment sectors leading the declines. Stocks in optical optoelectronics, computing hardware, rare earth permanent magnets, commercial aerospace, photovoltaic, humanoid robots, among others, also saw declines.
By the close of trading, the Shanghai Composite Index fell by 0.73%, the Shenzhen Component Index fell by 1.81%, the ChiNext Index fell by 2.11%, the Science and Technology Innovation Board Index fell by 4.77%, and the ChiNext 50 Index dropped by 5.04%. Nearly 3900 stocks across the market fell on that day.
The report mentioned that the semiconductor sector opened higher but continued to decline, with stocks like ChangXin Memory Technologies, Ningbo Semiconductor, ChipSea Technologies, Fudan Microelectronics, and CanSemi Technology falling by more than 10%. According to a report by “Securities Times” on May 29th, glass substrates, advanced packaging, and humanoid robot concepts all declined, along with sectors like non-ferrous metals, chemicals, and petroleum.
Reports from “First Financial” and “Securities Times” indicated that while technology stocks such as semiconductors experienced declines, sectors like liquor, retail, electricity, and coal showed increases.
“Sina Finance” reported that there was already differentiation in the market by the morning of that day. In the morning of May 29th, the market opened high but trended lower, with the Shenzhen Component Index and the ChiNext Index both falling by about 1%, and the ChiNext 50 dropping by over 3%. By midday closing, over 3400 stocks had fallen across the two markets. Sectors like military electronic, semiconductor, and new metal materials faced the most significant declines, while sectors of liquor, duty-free shops, and retail enjoyed gains in the consumer market.
Recently, the volatility of A-share technology stocks has increased. On May 27th, the ChiNext Index surpassed the Shanghai Composite Index at one point during the day, drawing market attention, but both the Shanghai and Shenzhen indices, as well as the Science and Technology Innovation Index, fell on the same day. The next day, on May 28th, the ChiNext Index and the Science and Technology Innovation Index rebounded for a period. However, by May 29th, semiconductor-related sectors once again experienced declines, with significant expansions in the drops of the Science and Technology Innovation Index and ChiNext 50 Indexes.