A-share midday trading | The three major indices collectively pulled back, liquid-cooled servers and real estate bucked the trend
The Zhitong Finance App learned that on August 31, the three major A-share indices collectively opened lower and fluctuated weakly in early trading. The market showed a pattern of “collective index correction, general decline in individual stocks, and the coexistence of defense and subject hotspots”. By the midday close, the Shanghai Index fell 0.20% to 3944.46 points, the Shenzhen Index fell 1.00% to 13812.99 points, and the GEM index fell 1.29% to 3380.15 points. More than 3,000 stocks fell across the market. The half-day turnover of the Shanghai and Shenzhen markets was 1.31 trillion yuan, down 112.1 billion yuan from the same period of the previous trading day. The main capital in early trading flowed into sectors such as cultural media, banks, film and television theaters, etc., with a net outflow from the electronics, semiconductor, and telecommunications industries. Of these, the net outflow from the electronics sector exceeded 8 billion yuan.
Overview of the plate
On the market, the hot spots are quite cluttered. On the upward side, sectors such as liquid-cooled servers, short dramas and movie theaters, real estate, coal, and agricultural seed industries showed active performance. The banking sector bucked the trend. The Bank of China rose more than 4% and China CITIC Bank continued to reach record highs by more than 2%; on the downside, sectors such as precious metals/gold, CRO/innovative pharmaceuticals, photovoltaic equipment, and semiconductors declined. Overall, there was a collective correction in the index, with individual stocks falling more and less, and capital flowing out of high-ranking sectors such as electronics and non-ferrous metals to the direction of liquid-cooled servers, banks, and media.
Popular sections
1. The liquid-cooled server concept bucked the trend and strengthened
The liquid-cooled server concept continued to rise in the market, with Rongyi Precision rising and falling by 30cm. Many stocks such as Guanlong Energy Saving, Kangsheng Co., Ltd., Jinfu Technology, and Jindi Co., Ltd. rose or fell, Tongfei shares rose more than 10%, Seagull shares hit a rise or stop, and Xinpeng Co., Ltd., Qiangrui Technology, and Dayuan Pump continued to rise.
Comment: According to the news, according to CCTV financial reports, with the accelerated implementation of the Wanka Intelligent Computing Center, chip power consumption continues to rise, traditional air cooling is difficult to meet cooling requirements, and liquid cooling has become a “must option” for computing power deployment; a batch of liquid cooling servers on the high-end AI server production line in Jinan, Shandong are being stepped up assembly tests and will soon be delivered and put into operation. The CDU assembly line order for liquid cooling core equipment components in Qingdao, Shandong is scheduled for the end of December. According to data from CCD consultants, China's liquid-cooled data center market will reach 15.98 billion yuan in 2025, an increase of 45.2% over the previous year.
2. The concept of skits and film and television theaters is getting stronger
The concept of short dramas fluctuated and strengthened. Many stocks such as Mango Supermedia, Zhongguang Tianze, Huanrui Century, Shanghai Film, and Bona Pictures rose and stopped, while Palm Reading Technology and Chinese Online followed suit.
Comment: According to news, the first domestic AIGC long drama “Journey to the West” began broadcasting on August 31. It was produced by Mango TV and was the first “sideline broadcast” series in the country after the release of “21 Rules of Radio and Television”. Furthermore, according to media reports, IMAX China's 2026 summer program set the record for the strongest summer program in 25 years since entering China. As of August 29, the summer box office exceeded 723 million yuan, an increase of 39% over the previous year.
3. The real estate sector bucked the trend and was active
The real estate sector is active in the intraday market. I love my family and Shenzhen Property A rose and stopped, while the words Tefa Service, World Link Bank, Financial Street, and CCCC Development declined after opening, closing up 10.26%, 5.58%, 3.14%, and 4.70% respectively.
Comment: According to the news, the People's Bank of China and the State Financial Supervision and Administration jointly issued “Opinions on Reforming and Improving Real Estate Credit Management to Accelerate the Construction of a New Model of Real Estate Development” on August 28, clarifying that development loans implement the host banking system and extend the personal housing loan period from a maximum of 30 years to a maximum of 40 years; the Ministry of Housing, Urban-Rural Development, the Ministry of Natural Resources, and the General Administration of Financial Supervision simultaneously issued the “Notice on Improving the Commercial Housing Sales System”, which requires all regions to vigorously and orderly implement commercial housing sales.