A-Share Close: ChiNext Index Opens Higher, Closes Down Over 3% as More Than 4,900 Stocks Fall Market-Wide

October 27: According to Cailian Press, the three major indices fell back rapidly in late trading, with the ChiNext Index down more than 3% after having risen more than 1% earlier. Turnover across the Shanghai and Shenzhen markets was 1.46 trillion yuan, 147.8 billion yuan less than the previous trading day. More than 4,900 stocks declined market-wide.

On the board, robotics names Duolun Technology, Saifutian and Xiangyang Bearing posted four consecutive limit-ups, Guangyang recorded two consecutive limit-ups, and Dayang Motor hit the daily limit. The consumer sector was active, led by food & beverage and retail: Guifaxiang, Sunshine Dairy and Qingdao Foods posted two consecutive limit-ups, while Maoye Commercial and Guangbai hit the limit up. The banking sector bucked the trend intraday, with Shanghai Rural Commercial Bank rising more than 4% to a new high for the year, while China Construction Bank and ICBC set record highs again.

On the downside, the pharmaceutical sector weakened, with Lingkang Pharmaceutical and Wanze Co. hitting the limit down and Novoprotein, CSPC Innovation and others falling sharply. The on-device AI theme swung lower, with Emdoor Information hitting the limit down and SigmaStar Technology, Queclink and others declining.

At the close, the Shanghai Composite Index fell 1.33%, the Shenzhen Component Index fell 2.5% and the ChiNext Index fell 3.41%.