CSI 300 dropped 1.13%
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This week, the A-share market exhibited weakness, showing signs of an upward trend being impeded. The SSE Index(000001) fell by 1.34% this week, closing at 3,168.52 points, which is approximately a 13.77% decrease from its highest point within the year. Trading volumes were down by about 33.94% relative to the 50-day moving average. Despite some recovery from the year’s lowest point, the overall market showed a volatile trend, being 5.43% below the 50-day moving average. The CSI 300(000300)index also saw a decline of 1.13%, currently standing at 3,732.48 points, with trading volumes 32.29% lower than the 50-day moving average. Similarly, this index has dropped 16.13% from its peak within the year but rose 20.08% from its lowest point.
Internationally, the Nasdaq Composite(0NDQC) fell 0.82%, and the S & P 500 Index(0S&P5) declined 0.45%. Although these indices have shown some upward trends compared to their lowest points within the year, they still retreated between 3.68% and 17.97% from their peaks, with the overall market sentiment remaining cautious.
From a macroeconomic data perspective, China’s Caixin Services PMI for December improved from expectations and previous figures, coming in at 52.2, higher than the expected 51.4, indicating an expansion in service sector activity. However, the U.S. ISM Non-Manufacturing PMI and ADP employment numbers were slightly worse than expected, and U.S. crude oil inventories continued to decline, showing that global markets are still facing various challenges. China’s December CPI annual rate was announced as 0.1%, level with the previous value, but remained low, reflecting less pressure on price increases.
In terms of sector performance, the Beverages-Non-Alcoholic(G2086IG.CN)sector performed strongly, rising by 7.27%, leading other sectors. Auto/Truck-Tires & Misc(G3011IG.CN) followed closely behind with a gain of 4.91%. In contrast, the Leisure-Products(G3949IG.CN) sector had a relatively weaker increase of only 4.1%.
Among the top 33 stocks this week, the average rise was 5.93%, with 24 stocks increasing and 9 decreasing. Individually, Ningbo Zhenyu Tech(300953) stood out significantly, with a surge of 35.9%. The company focuses on the research, design, production, and sales of precision progressive stamping dies and downstream precision components, belonging to a technology innovation-driven firm with relatively stable profit growth. Ningbo Zhenyu Tech’s O’Neil Score is 74, and its RS Rating reached 92, indicating strong market performance and capital inflows.
Overall, the current market weakness calls for investors to remain vigilant. Investors should be mindful of market adjustment risks and prioritize relatively strong stocks with steady profit growth, particularly those in stronger-performing sectors with good technical aspects.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.
published on January 10, 2025