A-shares closing review | The Shanghai Composite Index hit another new low, with the total turnover of the two markets falling below 500 billion RMB. Dividend stocks plummeted significantly.

On September 11, the three major stock indexes showed clear differentiation throughout the day. The Shanghai Composite Index fluctuated and fell by nearly 1%, reaching a new low for the period, while the ChiNext Index rose by over 1%. By the close of the day, the Shanghai Composite Index fell by 0.82%, the Shenzhen Component Index rose by 0.39%, and the ChiNext Index rose by 1.19%. In terms of market performance, stocks in the new energy sector rebounded collectively, with lithium resources, lithium batteries, and solid-state batteries leading the gains. Stocks such as Ganfeng Lithium Group, Tianqi Lithium Corporation, Willing New Energy, and Lecron Industrial Development Group all hit their daily limit. The solar energy and energy storage sectors followed suit, with companies like Jiangsu Goodwe Power Supply Technology Co., Ltd., Jiangxi Haiyuan Composites Technology, and Beijing Qianjing Landscape either hitting their limit or rising by over 10%. Stocks related to bidirectional charging and high-voltage fast charging continued their strong performance, with companies like Shenzhen HeKeda Precision Cleaning Equipment and Shenzhen Auto Electric Power Plant hitting their limit. Additionally, sectors such as pharmaceuticals, chemicals, and non-ferrous metals saw some upward movement. On the other hand, stocks that were previously at high levels continued to fall, with companies like Dazhong Transportation(Group)Co., Ltd. and Kunshan Kersen Science & Technology hitting their limit. Dividend stocks experienced significant declines, with sectors like banking, petroleum, coal, and electricity all trending downward, and companies like China Petroleum & Chemical Corporation, Bank Of Nanjing, and China Yangtze Power falling by over 3%. Stocks related to foldable screens and consumer electronics weakened, with companies like LianChuang Electronic Technology and Triumph Science & Technology hitting their limit. State-owned enterprise reform concept stocks experienced a pullback, with companies like Shanghai Join Buy and Shenzhen Zhongheng Huafa hitting their limit. Additionally, sectors such as education, retail, lithography machines, and tourism performed poorly. Overall, more stocks fell than rose, with over 3500 stocks declining in the market. The total trading volume in the Shanghai and Shenzhen markets was 499.6 billion RMB on the day, a decrease of 28.1 billion from the previous trading day. In terms of main capital flow, funds favored industries such as batteries, energy metals, and photovoltaic equipment, while withdrawing from industries like banks, railways, highways, and optoelectronics. Institutional viewpoints: Looking ahead, China Securities Co., Ltd. stated that the short-term market still faces many uncertainties, and the probability of fluctuation remains high before the holiday. In the medium to long term, we remain optimistic, with the value of A-share allocation becoming increasingly prominent. CITIC SEC: The consumer electronics materials sector is stabilizing and rising, and the release of new products from companies like Huawei and Apple is expected to drive demand growth. CITIC SEC stated that the consumer electronics industry's prosperity stabilized and rose in the second quarter of 2024, and it is expected that the release of new products from companies like Huawei and Apple in the third quarter will further drive demand growth. The demand for upstream materials in the OLED market is improving, and combined with localization, we are optimistic about the future order growth and market share increase of leading materials in the industry. Hot sectors: 1. Stocks related to the new energy sector rebounded collectively. Stocks related to the new energy sector rebounded collectively, with lithium resources, lithium batteries, and solid-state batteries leading the gains. Companies like Ganfeng Lithium Group, Tianqi Lithium Corporation, Willing New Energy, and Lecron Industrial Development Group all hit their daily limit. Review: On the news front, during the first presidential debate with Harris, Trump claimed to be a loyal fan of CECEP Solar Energy. 2. Solid-state battery concepts were active again. Stocks related to solid-state batteries were active once again, with Lecron Industrial Development Group and Jiujiang Defu Technology hitting their limit. Review: Recently, companies like CALB, Guangzhou Great Power Energy and Technology, Fuxin Dare Automotive Parts, and Contemporary Amperex Technology have successively announced the latest developments in the field of solid-state batteries. Currently, the expected time for these companies to achieve small-scale production of these batteries is 2027. 3. Dividend stocks continued to decline. Dividend stocks experienced significant declines, with sectors like banking, petroleum, coal, and electricity all trending downward, and companies like China Petroleum & Chemical Corporation, Bank Of Nanjing, and China Yangtze Power falling by over 3%.Stocks such as Jing and China Yangtze Power have fallen more than 3%.Review: On the evening of September 10th, on the news front, international oil prices experienced a sharp decline, with the main WTI crude oil futures contract falling by over 3% to close at $66.31 per barrel, hitting a new low since May 2023; the main ICE Brent crude oil futures contract also fell by nearly 3%, breaking below the key psychological level of $70 per barrel to close at $69.72 per barrel, reaching the lowest point since December 2021. This article is reproduced from "Tencent Stock Selection", edited by Li Fo for GMTEight.