After a decline in the previous trading day, the three major A-share indexes plunged collectively in the morning of July 24th, with the Shanghai Composite Index once falling below the key psychological level of 2900 points, marking a new low since February 22nd of this year.
Supported by the power, oil, and banking sectors, the market saw a slight increase with the Shanghai Composite Index edging up by 0.1% at midday, the Shenzhen Component Index dropping by 0.35%, the ChiNext Index falling by 0.18%, and the STAR 50 Index dipping by 0.06%. Most individual stocks experienced more declines than gains, with 3172 stocks falling and 1886 stocks rising.
As of the closing on the 24th, the Shanghai Composite Index fell by 0.46% to 2901.95 points, the Shenzhen Component Index dropped by 1.32% to 8493.10 points, and the ChiNext Index declined by 1.23% to 1650.91 points.
According to Wind statistics, a total of 4444 stocks in the two markets and the Beijing Stock Exchange fell while 799 stocks rose, with 114 remaining unchanged.
Upon closer observation of the market, sectors such as brokerage firms, semiconductors, real estate, home appliances, and automobiles experienced significant declines.
In particular, automotive stocks like Ankai Bus and Shanghai Sanda High-Tech hit the limit-down circuit breaker, while Huafon Group, Huoen Power, and Soling Holdings fell by more than 7%.
Real estate stocks continued to struggle, with Fuxing Shares limit-down, Binjiang Group, Yatong Shares, Tianjin Development Holdings, and Wawj Real Estate falling by over 4%.
As reported by The Paper, an investment consultant at a Shanghai brokerage pointed out that the recent market downturn reflects more of a willingness to sell instead of just selling pressure. Stocks are falling because those selling want to do so at lower prices, emphasizing the core issue being the sentiment of market pessimism.
Wind data shows that from July 12th to the present, A-share trading volume has remained around 600 billion yuan for nine consecutive trading days. From July 3rd to July 8th, A-share trading volume even remained around 500 billion yuan continuously.
Just yesterday, on July 23rd, the three major A-share indexes opened low and closed lower collectively. At the close of the day, the Shanghai Composite Index fell by 1.65% to 2915.37 points, the Shenzhen Component Index dropped by 2.97% to 8606.58 points, the ChiNext Index declined by 3.04% to 1671.44 points, and the STAR 50 Index fell by 4.11% to 721.11 points.
According to Wind statistics, a total of 567 stocks rose while 4673 stocks fell in the two markets and the Beijing Stock Exchange, including 16 stocks hitting the limit-down ceiling and 117 remaining unchanged.