A-Share Markets Diverge on Aug 6; Shanghai Composite Reclaims 3,900, Shenzhen and ChiNext Fall
Mainland Chinese equities were mixed on Aug 6. The Shanghai Composite Index rose 21 points, or 0.57%, to close at 3,900, marking a third consecutive gain and reclaiming the 3,900 level. The Shenzhen Component Index fell 34 points, or 0.24%, to 14,110, while the ChiNext Index dropped 19 points, or 0.55%, to 3,515. The CSI 300 slipped 6 points, or 0.15%, to 4,651. Combined turnover shrank to RMB 2.53 trillion. Coal and oil shares led gains; media and entertainment lagged.
Mainland equities were mixed on Aug 6. The Shanghai Composite Index closed at 3,900, up 21 points, or 0.57%, for a third consecutive session of gains, reclaiming the 3,900-point mark. The index opened 14 points lower at 3,864, the day's low, before buying pressure lifted the market into positive territory; gains extended into the close, with the index rising as much as 23 points to an intraday high of 3,902. Combined turnover on the two exchanges shrank to RMB 2.53 trillion.
The Shenzhen Component Index closed at 14,110, down 34 points, or 0.24%. It fell as much as 221 points intraday to a low of 13,922, then found support at the low and turned higher, rising as much as 107 points to an intraday high of 14,252. The CSI 300 Index closed at 4,651, down 6 points, or 0.15%; the ChiNext Index closed at 3,515, down 19 points, or 0.55%.
By sector, coal stocks rose more than 4%, oil stocks more than 2%, and non-ferrous metals, chemicals and cement stocks gained more than 1%. Electronic information and property shares were steady. Media and entertainment stocks fell more than 1%, while auto manufacturing, steel, financial, biopharmaceutical and power stocks were soft.