On August 20, the A-share market once again witnessed a general decline, with nearly 4600 individual stocks falling. The three major indexes all dropped by around 1%, and the total turnover of the Shanghai and Shenzhen markets decreased by 12.8 billion yuan compared to the previous trading day.
By the close of trading, the Shanghai Composite Index fell by 0.93% to 2866.66 points, the Shenzhen Component Index dropped by 1.24% to 8252.87 points, and the ChiNext Index slipped by 1.34% to 1567.97 points. Both the Shenzhen Component Index and the ChiNext Index hit recent lows again.
The total turnover of the Shanghai and Shenzhen markets was 557.8 billion yuan, a decrease of 12.8 billion yuan from the volume on the 19th. On the 19th, the turnover of the two markets was 570.6 billion yuan, marking a reduction of over 20 billion yuan compared to the previous Friday (591.157 billion yuan).
In terms of sectors, only a few sectors such as titanium dioxide, e-sports, and e-commerce saw gains, while the railway transportation, coal, Huawei Hisilicon, and agriculture sectors led the decliners. Overall, more stocks fell than rose, with over 4600 individual stocks in the market registering losses.
Regarding the current stock market situation, the “Old Savage Channel,” which tracks Chinese economic data long-term, posted an analysis on the X social platform, stating: “The state-backed team manipulating the A-share index is an issue dating back to the 2015 stock market crash period, which sparked huge controversy at that time: You are not other people’s so-called stabilization fund, with strict operational restrictions, strictly prohibiting frequent buying and selling, profiting from short-term operations, and acquiring backstage data, with strict isolation measures in place.
“The Chinese stock market national team can monitor the backstage data of every participant to speculate on short-term trends, to the extent that even your account opening operation can be displayed as big data on its screen. How do you compete with it? So, after the Chinese national team exits, it and the one-stop shop following it make a profit to the fullest, becoming the biggest source of corruption in China at present, even surpassing drug trafficking. Retail investors collectively end up penniless. Not to mention, starting from last year, the government has to extract 800 billion blood from the financial market every month to resolve government debt, with half of it coming from the stock market. The national team + government debt jointly sucks blood from the stock market. Do you still expect to make money from the stock market? Dream on.”