On Monday, December 27th, the last trading day of the Year of the Dragon in the Chinese stock market in 2024 saw a decline across all three major indices. Both the Shanghai and Shenzhen markets experienced a decrease in trading volume of over a trillion yuan compared to the previous trading day.
By the closing bell, the Shanghai Composite Index fell by 0.06% to 3250.6 points, the Shenzhen Component Index dropped by 1.33% to 10156.07 points, and the ChiNext Index declined by 2.73% to 2063.82 points.
The total turnover for the Shanghai and Shenzhen markets amounted to 1.1178 trillion yuan, down by 104.2 billion yuan from the previous Friday. Specifically, the turnover in Shanghai was 450.2 billion yuan, while in Shenzhen it was 667.6 billion yuan.
In terms of sector performance, the banking, coal, gas, and steel industries saw gains, while the telecommunications equipment, electrical machinery, power equipment, electronic components, consumer electronics, semiconductor, and securities sectors experienced declines.
According to statistics from Wind, the market showed a trend of more stocks falling than rising, with a total of 1814 stocks rising, 3417 stocks falling, and 157 stocks remaining flat across the Shanghai and Shenzhen markets, as well as the Beijing Stock Exchange.
Data from “Dazhihui VIP” indicates that 54 stocks across the markets saw increases of over 9%, while 101 stocks experienced decreases of over 9%.
Well-known author and influential blogger “Daman Brother” commented, “On the final trading day of the Year of the Dragon, the performance of A-shares had my heart in knots! While the Shanghai Composite Index saw a slight decline, the Shenzhen Component Index and ChiNext Index plummeted significantly. Tech stocks collectively ‘cooled off,’ with previously soaring stocks related to the Nvidia industry chain seeing heavy sell-offs. With over 3400 stocks declining, the market was bleak. Main funds continue to flow out, favoring blue-chip and high-dividend assets, while small and mid-cap stocks were unfortunately abandoned.”
Investment content creator and financial blogger “Sunshine of Shenzhen” expressed, “Today marks the last day of the Year of the Dragon, but it seems the main players in A-shares have somewhat dampened the festive mood. The late sell-off today led to a across-the-board decline in the three major indices, bringing a tinge of regret to A-share investors in the Dragon Year.”
Financial blogger “Liu Chengbin SC” added, “The final closing day of the Year of the Dragon in A-shares ended amidst wails and curses, with the anticipated New Year’s red envelope nowhere to be seen. Instead, individual investors once again handed themselves out as red envelopes, causing a stir with stock prices falling significantly, even if the indices didn’t drop much.”
Financial blogger “Shi Hualu Longkong” remarked, “On the last trading day of the Year of the Dragon in A-shares, the familiar pattern of shooting up and pulling back played out once again. It seems fitting that the year ends the way it began!”