Five consecutive declines! A-share trading volume shrinks to 2 trillion mark, these sectors remain locally active

Why is trading volume declining despite stable AI financing balances?

Cailian Press, March 18 (Editor: Zilong) Recently, trading activity in the A-share market has continued to decline. As of the close on March 18, the total daily trading volume across the two markets was 2.06 trillion yuan, approaching the 2 trillion mark and hitting a new low in over a month since February 13. This ranks as the third-lowest trading volume of the year.

Note: Recent changes in A-share trading volume (as of March 18 close)

Market volume has decreased for five consecutive days, but the annual average remains record-high

Since the beginning of this year, the overall trading volume in the A-share market has remained high. As of today’s close, the average daily trading volume over 47 trading days is nearly 2.67 trillion yuan, far exceeding other years in the A-share market and the second-highest in history—1.5 times that of 2025 (1.73 trillion yuan). During this period, except for February 13 when it fell below 2 trillion yuan, all other trading days saw volumes above this threshold. There have been 10 days with trading volumes exceeding 3 trillion yuan, accounting for nearly 21.3% of the total trading days this year.

By month, the large trading days with daily volumes over 3 trillion yuan mainly occurred in January, totaling 8 times, with 2 additional times in March. Notably, on January 14, the A-share trading volume surged to 3.99 trillion yuan, setting both a yearly and historical high. On that day, the Shanghai Composite Index fell by 0.31%, while the STAR 50 and CSI 500 indices led the market, whereas the Dividend Index and SSE 50 declined more significantly.

Note: Performance of various indices on the highest trading volume day (January 14)

However, since March 11, the market volume has been declining for several consecutive days, approaching the 2 trillion yuan mark. From a funding perspective, the total financing balance across Shanghai, Shenzhen, and Beijing markets has remained relatively stable. As of March 17, the total financing balance was 2.63 trillion yuan, only down 86.9 million yuan from March 11’s 2.64 trillion yuan. Sector-wise, metals, communications, defense and military, banking, and transportation sectors saw the largest reductions in financing holdings.

Note: Changes in A-share financing balances this year (as of March 17)

Spotlight on active sectors with high enthusiasm

Although recent market activity has slowed compared to earlier, various hot topics continue to rotate rapidly. Among the top stocks by trading volume over the past five days, 11 stocks had an average daily trading volume exceeding 10 billion yuan, including New Easy盛, Huagong Technology, Zhongji Xuchuang, Sunshine Power, CATL, Goldwind, Tianfutong, China Energy Construction, Dongshan Precision, Huidian Shares, and Shenghong Technology. Industry-wise, these mainly belong to electronics, electrical equipment, communications, machinery, and construction decoration sectors.

Note: Stocks with the highest average trading volume over the past 5 days (as of March 18 close)

Based on turnover rate data, excluding new stocks, a total of 14 stocks had an average turnover rate over 30% in the past five days. Industry distribution shows a concentration in basic chemicals and electrical equipment, accounting for nearly 71% combined, along with stocks in computing, construction decoration, automobiles, and social services. Recently active stocks include Nabaichuan, Xihua Technology, Shouhang New Energy, Xihua Technology, Chitianhua, Nabaichuan, Keli Shares, and Zhongfu Shenying, with average turnover rates of 56.5%, 49.8%, and 48.6%, respectively.

Note: Stocks with the highest average turnover rate over the past 5 days (as of March 18 close)

Additionally, from the distribution of stocks on the Dragon and Tiger list, as of March 17, a total of 179 stocks appeared 315 times. Industry-wise, stocks in basic chemicals, electrical equipment, utilities, machinery, computing, automobiles, electronics, construction decoration, communications, and environmental protection sectors appeared frequently, with each sector appearing 10 times or more. Notable frequent visitors include Shouhang New Energy, Shun Na Shares, Muirui Technology, Xihua Technology, Chitianhua, Nabaichuan, Keli Shares, and Zhongfu Shenying.

(Cailian Press, Zilong)