A-share Opening Express | Shanghai Index opens 0.16% lower, media agriculture leads the way
The Zhitong Finance App learned that on September 1, the Shanghai Index opened 0.16% lower to 3979.88 points, the Shenzhen Index opened 0.02% higher to 14017.42 points, the GEM Index opened 0.10% lower to 3435.32 points, and the Science and Innovation 50 opened 0.27% lower to 1679.89 points. As of 9:32, a total of 3,138 companies in the two markets and the Beijing Stock Exchange had risen, 2,124 were down, and 291 were flat. The increase was highest: digital media, planting, publishing, agricultural product processing, fishing, gaming, etc.; the decline was the highest: real estate, general, electronics, communications, power equipment, non-bank finance, etc.
Market conditions
At the opening of the market on September 1, most major A-share indices opened lower. The Shanghai Index opened 0.16% lower to 3979.88 points, the Shenzhen Index opened slightly higher by 0.02%, and the GEM Index and Science Innovation 50 opened 0.10% and 0.27% lower, respectively. On the previous trading day (August 31), the Shanghai Index opened low and closed up 0.86% to 3986.30 points, approaching the 4,000 point integer mark. The stock index rebounded rapidly after the opening of the market. At one point, the Shanghai index forced the market. The total market rose by more than 3,100 individual stocks, and the profit effect was relatively superior. In terms of sectors, the media sector led the way, with active segments such as digital media, publishing, and gaming; agricultural sectors such as planting, agricultural product processing, and fishery strengthened; sectors such as electronics, communications, real estate, power equipment, and non-bank finance weakened, and the direction of technological growth, which had increased significantly in the early period, diverged.
Overnight quick facts
The escalation of the US-Iran conflict boosted oil prices, and the three major US stock indices closed down: On August 31, the US military attacked an Iranian rocket launcher near the Strait of Hormuz, and Iran retaliated against US military targets in Jordan and the UAE. Brent crude rose 2.71% to $90.49 per barrel, and WTI rose 2.83% to $85.76. The three major US stock indices closed down. The Dow fell 0.70%, the S&P 500 fell 0.33%, the NASDAQ fell 0.12%, and the 10-year US Treasury yield rose to 4.756%.
The manufacturing PMI rebounded to 49.8% in August, and new orders returned to expansion: The National Bureau of Statistics announced on August 31 that the manufacturing PMI for August was 49.8%, up 0.6 percentage points from month to month. The new order index of 50.6% and new export orders of 50.1% returned to the expansion range, but it was below the boom and bust line for the third month in a row. According to data from the Ministry of Finance, the total profit of state-owned enterprises from January to July was 2508.99 billion yuan, an increase of 0.6% over the previous year.
Seven departments are promoting the expansion and upgrading of commodity consumption, and several companies have made impressive reports: 7 departments including the Ministry of Commerce have issued implementation opinions, and it is proposed that the total retail sales of social consumer goods will reach about 60 trillion yuan by 2030. The interim report on the evening of August 31 showed that CNPC's net profit of 103,936 billion yuan in the first half of the year increased 22% year on year, China Shipping's net profit of 9,954 billion yuan increased 163.51% year on year, Tianfeng Securities's net profit increased 549.03% year on year; Longji Green Energy's net loss for the first half of the year was 3,684 billion yuan.
Trend analysis
Today, most of the major A-share indices opened lower. After opening 0.16% lower, the Shanghai index quickly rebounded and forced the current market. Individual stocks rose more and less, leading the way in topics such as media and planting, and weakening the weight of electronics, communications, and real estate. The overnight escalation of the US-Iran conflict boosted oil prices. The yield on 10-year US bonds rose to a new high of 4.756%. Peripheral risk appetite was under pressure, causing a certain drag on the opening of the market.
On the domestic side, the manufacturing PMI rebounded to 49.8% in August, and new orders returned to the expansion range, compounding seven departmental consumer promotion policies, or supporting the market center. The institutional consensus bias is that policy support and profit recovery form the core support, and that revisions in AI industry expectations and fluctuations in overseas interest rates constitute upward restraints and may maintain a volatile pattern in the short term. The Shanghai Index is approaching the 4,000-point integer mark, and the short-term direction may be dominated by fluctuation consolidation.