Shanghai Composite Falls 1.84% as A-Shares Turnover Rises 9.01%

China's three major A-share indices opened lower on September 11 and fluctuated downward in morning trading, with all three falling more than 2% at one point before the market warmed in the afternoon and losses narrowed markedly. At the close, the Shanghai Composite Index fell 1.18% to 3,888.11; the Shenzhen Component Index fell 1.08% to 13,471.26; and the ChiNext Index fell 0.49% to 3,322.04. Across the two markets and the Beijing Stock Exchange, 639 stocks rose, 4,864 fell and 48 were flat. Turnover in the two markets reached RMB 1,971.9 billion, an increase of RMB 324.7 billion from RMB 1,647.2 billion the previous trading day, of which Shanghai contributed RMB 958.2 billion and Shenzhen RMB 1,013.7 billion. A total of 52 stocks in the two markets and the Beijing Stock Exchange rose more than 9%, while 49 fell more than 9%.

Intraday data showed that by the morning close, the Shanghai Composite Index had fallen 1.82%, breaking below the 3,900-point mark; the Shenzhen Component Index had fallen 2.34%, the ChiNext Index 2.04% and the STAR Composite Index 3.65%, with more than 5,100 stocks declining across the market. As of 13:58, the Shanghai Composite was down 1.02%, A-share trading volume was 101.179 billion shares and turnover was RMB 1,626.3 billion, up 22.12% from the previous trading day, with 705 stocks rising, including 38 at the daily limit, and 4,801 falling, including 17 at the daily limit. As of 10:27 am, the Shanghai Composite was down 1.84%, A-share trading volume was 62.130 billion shares and turnover was RMB 939.618 billion, up 9.01% from the previous trading day, with 303 stocks rising, including 26 at the daily limit, and 5,232 falling, including 9 at the daily limit.

By sector, communications stocks fluctuated widely and rose again in the afternoon, with Shenyu shares, Changyingtong, Mingpu Optomagnetic and Dingxin Communications hitting the daily limit or rising more than 10%, while Zhaolong Interconnect, Dongruan Zaibo and *ST Shida rose more than 8%. Building materials recovered in the afternoon and briefly turned positive, with Jiuding New Material and Kaisheng New Energy hitting the daily limit and Zaisheng Technology and Changhai shares rising more than 8%. Bank stocks briefly strengthened against the trend, with Minsheng Bank, China Construction Bank and Bank of Communications gaining. Nonferrous metals led the declines, with Jingyi shares hitting the daily limit and Northern Copper, Yunnan Copper, Diangong Alloy, Jiangxi Copper and Western Mining falling more than 7%. Basic chemicals were among the biggest decliners, with Chongqing Sanxia A and Jitai shares hitting the daily limit and Hongsifang, Youcai Resources, Kingenta, Sanyou Chemical and Xinfengming falling more than 7%. Real estate performed poorly, with Tibet Urban Development, Heung Kong Holdings and 5i5j falling more than 6%, while World Union, Xinda Real Estate, Rongan Property and Binjiang Group fell more than 4%.

Hong Kong stocks fell in the morning, with the Hang Seng Index down more than 1% at one point. Among Hang Seng Index constituents, China Molybdenum fell more than 12% at one point, Sun Hung Kai Properties fell nearly 8%, and Zijin Mining, Laopu Gold, Aluminum Corporation of China, China Hongqiao and Longfor Group were among the biggest decliners. Sun Hung Kai Properties announced that for the year ended June 30, 2026, revenue was HKD 94.194 billion, compared with HKD 79.721 billion in the same period of 2025; profit attributable to shareholders was HKD 21.426 billion, compared with HKD 19.277 billion in the same period of 2025. Sun Hung Kai Properties said that during the year under review, benefiting from an improved economic environment, active financial markets and a relatively accommodative interest rate environment, Hong Kong's residential property market continued to recover, the continued inflow of talent and students drove residential rents steadily higher, and first-hand residential projects with comprehensive supporting facilities and convenient transport links continued to record satisfactory sales.

Among stocks hitting the daily limit, as of the morning close and excluding new listings that day, 349 tradable A-shares rose, accounting for 6.29%, 5,180 fell and 20 were flat; 25 stocks closed at the daily limit and 11 at the daily limit down. Among the limit-up stocks, 24 were on the main board and one on ChiNext, with electronics, utilities and communications leading by industry with three each. Ruierte had recorded four consecutive limit-up days, the most consecutive limit-ups. In terms of sealed orders at the morning close, Zotye Automobile had 92.6264 million shares sealed, while Yuanwanggu and Huasheng Tiancheng had 55.2526 million and 49.514 million shares sealed, respectively. By sealed order value, Huasheng Tiancheng, Yuanwanggu and Ruierte had the largest sealed funds at RMB 764 million, RMB 444 million and RMB 390 million, respectively.