On August 19th, a total of nearly 5100 stocks in the A-share market fell, with over a hundred stocks hitting the limit down. The Shanghai Composite Index fell nearly a hundred points, breaking below the 3900 point mark, while the Shenzhen Component Index fell below 14000 points with high-speculation stocks collectively pulling back.
By the close, the Shanghai Composite Index fell by 2.4% to close at 3894.42 points, the Shenzhen Component Index dropped 5.01% to 13890.15 points, the ChiNext Index declined by 6.26% to 3473.49 points, the CSI 50 fell by 4.89%, the STAR 50 Index dropped by 7.16% to 1954.02 points, and the STAR Market 50 Index decreased by 6.89%.
The total turnover in the Shanghai and Shenzhen stock markets was about 2511.43 billion yuan, an increase of approximately 110.27 billion yuan compared to the previous trading day. Out of the total market, 449 stocks rose while 5069 stocks fell, including 37 stocks hitting the limit up and 119 hitting the limit down.
According to data from “Securities Times Data”, the net outflow of main funds in the Shanghai and Shenzhen stock markets was 127.448 billion yuan. Looking at the industries, only three industries – coal, petroleum and petrochemicals, and conglomerates – saw a net inflow of main funds, totaling 823 million yuan, 195 million yuan, and 96.118 million yuan, respectively.
On the stock market, the coal sector showed strength against the trend, while banking stocks rose across the board. On the downside, high-speculation stocks collectively retreated sharply, with stocks like Ailey Home, Yiming Food, and Golden Mantis hitting the limit down. The concept of humanoid robots weakened significantly, with Zhongda Lide, Jowin Intelligence, Wuzhou Xinchun, and Jintuo Stock all hitting limit downs.
The trend in the A-share market once again trended on Weibo hot search, with many investors unable to hide their anger and frustration.
“Catastrophe, everything crumbling, cries of despair everywhere, a day of ‘stock disaster’…””Today’s bloodbath in the A-share market has left investors crying without tears.””They are not hitting the limit down, just pretending to sleep, it can only be said to be waiting for the good news, do not create panic, it should be said that it is stable and improving! Continue to deceive the ignorant!”
Financial blogger “Blue Mountain 701” wrote, “China’s first and second-tier markets are in a severe state of disparity, with the first-tier market feasting while the second-tier market is left with nothing. The purpose of going public is not to share the development fruits with ordinary investors, but to let retail investors pick up the premium that has been inflated to the sky.
“Formerly dominant in the first-tier market, Hillhouse Capital invested in Tencent, JD.com, Meituan, and Alibaba, making massive profits. However, when it comes to the second-tier market, investments in Gree Electric and Longi have faced huge losses. What does this indicate? It’s not that the retail investors in the A-share market are not good, but the huge unfairness between the first and second-tier markets.”