Low-ranking sectors bucked the trend and strengthened, institutions say the market does not have the basis for systematic decline.

This week, the A-share market continued to adjust, with the Shanghai Composite Index, the Shenzhen Component Index, and the ChiNext Index falling by 5.81%, 8.90%, and 10.78% respectively. In terms of industry sectors, coal, food and beverage, and banking industries led the gains, while low-level sectors strengthened and high-level sectors such as electronics saw the largest declines. Analysts believe that the extreme selling by speculative funds can quickly release risks and accelerate turnover. The market adjustment is essentially a transfer of existing funds from high-growth sectors to low-defensive sectors. The market does not have the basis for systematic downward movement.