On February 6, the three major A-share stock indexes continued their volatile adjustment trend, showing an overall pattern of “general decline with minor gains” with obvious sector differentiation. As of the close, the Shanghai Composite Index closed at 4,065.58 points, slightly down 0.25% with a turnover of 898.655 billion yuan; the Shenzhen Component Index closed at 13,906.73 points, down 0.33% with a turnover of 1.247064 trillion yuan; the ChiNext Index closed down 1.55% at 3,260.28 points, continuing its weak performance.
In terms of sectors, the precious metals sector became the biggest decliner. Affected by the sharp drop in international silver and gold prices, the domestic precious metals sector triggered a limit-down wave, with Shanghai Silver falling more than 10% and related individual stocks coming under collective pressure. At the same time, the space photovoltaic sector also weakened synchronously, with a limit-down wave appearing, and the speculation on market hot topics cooled down. In addition, the new energy and consumer sectors performed weakly, with most individual stocks showing a downward trend.
It is worth noting that the securities sector showed a differentiated trend against the trend, with some individual stocks achieving gains. Among them, BOC Securities rose 2.11%, Dongxing Securities rose 1.22%, Great Wall Securities, Hatou Co., Ltd. and others rose slightly, while most securities stocks fell slightly. The declines of leading securities firms such as China International Capital Corporation and CITIC Securities were less than 1%. In addition, the China Concept Stock Index closed up against the trend, with Baidu rising 0.73% and Meituan rising more than 2%, driving a slight movement of related concept stocks in A-shares.
Market analysis pointed out that the current volatile adjustment of A-shares is mainly affected by fluctuations in external markets and the sharp drop in international commodity prices. In the short term, market risk aversion is rising and capital wait-and-see sentiment is strong. In the follow-up, we need to focus on the trend of external markets, domestic macroeconomic policies and the rhythm of sector rotation. It is recommended that investors remain cautiously optimistic and focus on sectors and individual stocks with strong performance certainty.
