Workflow
每日复盘：2025年9月18日市场全天冲高回落，成交额再破三万亿-20250918
Guoyuan Securities·2025-09-18 11:43

Market Performance - On September 18, 2025, the market experienced a high and then a pullback, with a total trading volume exceeding 31,666.28 billion CNY, an increase of 7,637.13 billion CNY from the previous trading day[3] - The Shanghai Composite Index fell by 1.15%, the Shenzhen Component Index decreased by 1.06%, and the ChiNext Index dropped by 1.64%[3] - A total of 1,027 stocks rose while 4,350 stocks declined across the market[3] Sector and Style Analysis - Among the 30 major sectors, the electronics sector led with a gain of 0.82%, followed by consumer services at 0.68% and communications at 0.24%[3] - The worst-performing sectors included non-ferrous metals at -3.62%, comprehensive finance at -3.54%, and non-bank finance at -2.79%[3] - Fund-heavy stocks outperformed the CSI All Share Index, indicating a preference for growth and consumer sectors over financials and cyclical stocks[3] Capital Flow - On September 18, 2025, there was a net outflow of 1,084.07 billion CNY in major funds, with large orders contributing to a net outflow of 599.01 billion CNY and 485.06 billion CNY respectively[4] - Small orders saw a continuous net inflow of 1,136.31 billion CNY, indicating retail investor interest despite the overall outflow[4] ETF Trading Activity - Major ETFs such as the Huaxia SSE 50 ETF and the Huatai-PB CSI 300 ETF saw significant increases in trading volume, with changes of +22.12 billion CNY and +21.73 billion CNY respectively[4] - The total trading volume for these ETFs indicates a growing interest in index-based investments amidst market volatility[4] Global Market Overview - On September 18, 2025, major Asian indices showed mixed results, with the Hang Seng Index down 1.35% and the Nikkei 225 up 1.15%[5] - European indices also displayed varied performance, with the DAX up 0.13% and the CAC40 down 0.40%[6] - In the U.S., the Dow Jones Industrial Average rose by 0.57%, while the S&P 500 and Nasdaq Composite saw slight declines of 0.10% and 0.33% respectively[6]