A-share index declines in the short term, ChiNext index expands decline to 1%, nearly 3000 stocks decline, automobiles and semiconductors lead losses; Northbound funds net outflow nearly 860 million.

March 6 | A-shares decline in the short term, with the ChiNext Index falling more than 1%, Shenzhen Component Index down 0.81%, and Shanghai Composite Index down 0.34%. Semiconductors, automotive industry chains, and AI-related sectors lead the declines, with nearly 3,000 stocks in Shanghai, Shenzhen, and Beijing falling.

The new quality productivity concept in the A-share market rises, with BaiAo Intelligent, Tai’er Shares (002347), and East China Heavy Machinery (002685) hitting the daily limit. De’en Precision Engineering (300780) rises over 10%, Jinzi Tianzheng (600560), Dongfang Precision (002611), and De’en Precision Engineering approach the daily limit. On the news front, the National Development and Reform Commission released the 2024 national economic and social development plan draft, mentioning that technological innovation will lead the construction of a modern industrial system and accelerate the formation of new quality productivity.

The A-share photovoltaic sector rises, with Ancai Gaoke (600207) and Jiangsu Huachen hitting the daily limit. San Chao New Materials (300554) rises over 10%, with Yubang New Materials, Jinjing Photovoltaic, and Jiayu Shares (300117) also gaining.

The A-share flying car sector sees a sudden surge, with Jindun Shares (300411) up over 18%, WanFeng AoWei (002085), Shangluo Electronics, Wangzi New Materials (002735), and Guangyang Shares (002708) following suit.

The A-share consumer electronics concept stocks collectively pull back, with Zhuoyue Technology (002369) down more than 5%, and Furi Electronics (600203), Industrial Fulian (601138), and Guanghong Technology (300735) also declining.

The new industrialization concept in A-shares strengthens, BaiAo Intelligent hits the daily limit with a 20% increase, with De’en Precision Engineering, East China Heavy Machinery, Jinzi Tianzheng, and Dongfang Precision leading the gains.

The A-share education sector rises, with Dongfang Fashion (603377) hitting the daily limit. Kaiyuan Education, Angli Education (600661), MijiM (002621), and ChuanZhi Education follow suit. According to the news, in 2023, China’s gross enrollment rate in higher education reached 60.2%, an increase of 0.6 percentage points over the previous year, surpassing the “14th Five-Year Plan” target ahead of schedule.

The hydrogen energy sector in A-shares surged early in the session, with Nale Shares (002825) and Evergrande High-tech (002591) hitting the daily limit. Tianyuan Intelligent attempted to hit the limit, while Xinan Technology, New Power (310328), and E-Hua Tong also gained. The government work report this year mentioned hydrogen energy as an emerging energy for the first time. The report states, “We need to accelerate the development of frontier emerging industries such as hydrogen energy, new materials, and innovative medicines.”

The steel sector in A-shares oscillates and strengthens, with Shagang Shares (002075) hitting the daily limit. CITIC Special Steel, Linggang Shares (600231), Hanggang Shares (600126), Chongqing Steel, and Shandong Steel follow suit.

Northbound funds net sold nearly 860 million yuan.

(Editors: Song Zheng HN002)