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 draft plan for 2024 national economic and social development, 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 shows unusual upward movement, with Jindun Shares (300411) rising over 18%. Wanfeng Aowei (002085), Shangluo Electronics, Wangzi New Materials (002735), and Guangyang Shares (002708) follow suit.

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

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

The education sector in A-shares rises, with Dongfang Fashion (603377) hitting the daily limit. Kaiyuan Education, Angli Education (600661), Miji Jim (002621), and Chuan Zhi Education follow. According to 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 Nare Shares (002825) and Evergrande High-tech (002591) hitting the daily limit. Tianyuan Intelligent attempts to hit the limit, with Xinan Technology, New Power (310328), and Yihuatong following. The government work report this year first mentions hydrogen energy as an emerging energy source, stating, “We need to accelerate the development of frontier emerging industries such as hydrogen energy, new materials, and innovative drugs.”

The steel sector in A-shares fluctuates 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.

Northbound funds net sold nearly 860 million.