A-share Opening Report | The Shanghai Composite Index opened down 0.16%, with media and agriculture leading the gains.

On September 1, the Shanghai Composite Index opened down 0.16% at 3979.88 points, the Shenzhen Component Index opened up 0.02% at 14017.42 points, the ChiNext Index opened down 0.10% at 3435.32 points, and the STAR 50 Index opened down 0.27% at 1679.89 points. As of 9:32 AM, a total of 3138 stocks rose, 2124 fell, and 291 remained flat across both exchanges and the Beijing Stock Exchange. Leading sectors by gains included digital media, agriculture, publishing, Shenzhen Agricultural Power Group processing, fisheries, and gaming; sectors with the largest declines included real estate, comprehensive industries, electronics, telecommunications, power equipment, and non-bank finance. Market situation At the opening on September 1, most of the main A-share indices opened lower, with the Shanghai Composite Index down 0.16% at 3979.88 points, the Shenzhen Component Index slightly higher by 0.02%, and the ChiNext Index and STAR 50 Index down 0.10% and 0.27%, respectively. In the previous trading day (August 31), the Shanghai Composite Index opened lower but closed up 0.86% at 3986.30 points, approaching the 4000-point threshold. After the opening, the stock index quickly rebounded, with the Shanghai Composite Index momentarily nearing the flat line; over 3100 stocks were up, indicating a relatively dominant profit-making effect. In terms of sectors, the media sector led the gains, with digital media, publishing, and gaming segments performing actively; meanwhile, the agriculture sector, including planting, Shenzhen Agricultural Power Group processing, and fisheries, was strong; sectors such as electronics, telecommunications, real estate, power equipment, and non-bank finance weakened, showing differentiation in technology growth sectors that had previously seen substantial gains. Overnight news highlights Escalation of U.S.-Iran conflict pushes up oil prices; U.S. stock indices close lower: On August 31, U.S. military forces struck Iranian rocket launchers near the Strait of Hormuz, and Iran retaliated against U.S. positions in Jordan and the UAE. Brent crude oil rose by 2.71% to $90.49 per barrel, while WTI increased by 2.83% to $85.76. The three major U.S. stock indices closed lower, with the Dow down 0.70%, the S&P 500 down 0.33%, and the Nasdaq down 0.12%. The yield on the 10-year U.S. Treasury bond rose to 4.756%. Manufacturing PMI rebounds to 49.8% in August, new orders back in expansion: The National Bureau of Statistics announced on August 31 that the manufacturing PMI for August was 49.8%, an increase of 0.6 percentage points month-on-month. The new orders index was at 50.6% and new export orders at 50.1%, both returning to the expansion zone, although they remained below the threshold for the third consecutive month. Data from the Ministry of Finance indicated that the total profit of state-owned enterprises reached 2508.99 billion yuan from January to July, a year-on-year increase of 0.6%. Seven departments promote the expansion and upgrade of commodity consumption; several companies report strong interim results: Seven departments, including the Ministry of Commerce, issued implementation opinions proposing that by 2030, the total retail sales of consumer goods will reach about 60 trillion yuan. Reports released on the evening of August 31 showed that PetroChina's net profit in the first half of the year was 103.936 billion yuan, a year-on-year increase of 22%; China CSSC's net profit was 9.954 billion yuan, a year-on-year increase of 163.51%; Tianfeng's net profit increased by 549.03% year-on-year; LONGi Green Energy Technology recorded a net loss of 3.684 billion yuan in the first half. Trend analysis Today, the major A-share indices mostly opened lower, with the Shanghai Composite Index quickly rebounding after a 0.16% drop and nearing the flat line, with more stocks rising than falling, and media and agriculture themes leading the way, while heavyweights in electronics, telecommunications, and real estate weakened. The overnight escalation of the U.S.-Iran conflict pushed up oil prices, and the yield on the 10-year U.S. Treasury bond rose to 4.756%, a new high for the period, putting pressure on risk appetite in the external market, which created a drag on the opening. Domestically, the rise of the manufacturing PMI to 49.8% in August and the return of new orders to the expansion zone, combined with consumption promotion policies from seven departments, may provide support for the market's central tendency. Institutional consensus leans towards the view that policy support and profit recovery constitute core support, while adjustments in AI industry expectations and overseas interest rate disturbances present upward constraints, suggesting a likely continuation of a volatile pattern in the short term. The Shanghai Composite Index approaches the 4000-point threshold, with the short-term outlook leaning towards consolidation.