港股方面，药明康德跌超7%，中芯国际、地平线机器人、商汤等跌超6%，华虹半导体跌超5%；农业银 行、百度集团等涨超2%。 A股今日（9月4日）继续回调，沪指盘中跌超2%，创业板指一度跌超5%，尾盘跌幅有所收窄；港股亦 下挫，恒生科技指数一度跌超2%。 具体来看，沪指盘中震荡下探，一度跌超2%，尾盘在金融、酿酒等板块的带动下跌幅有所收窄。创业 板、科创50指数等大幅下挫。截至收盘，沪指跌1.25%报3765.88点，深证成指跌2.83%报12118.7点，创 业板指跌4.25%报2776.25点，科创50指数跌逾6%，北证50指数跌0.8%，沪深北三市合计成交25823亿 元，较此前一日增加1862亿元。 场内近3000股飘绿，半导体板块领跌，寒武纪大跌超14%，海光信息、华虹公司、敏芯股份等跌超 10%；CPO概念大幅下挫，新易盛、天孚通信、太辰光等跌超15%，中际旭创跌逾13%；军工板块再度 下行，北方长龙、长城军工等连续两日跌停；食品饮料、旅游餐饮、零售等消费板块集体拉升，润普食 品、欢乐家、百大集团、国光连锁等涨停；券商、银行板块尾盘异动，太平洋涨停，市值超2万亿的农 业银行（601288）涨超5%续创 ...

Market Overview - A-shares continued to decline on September 4, with the Shanghai Composite Index dropping over 2% at one point, while the ChiNext Index fell over 5% before narrowing its losses towards the end of the trading session [1] - The Shanghai Composite Index closed down 1.25% at 3765.88 points, the Shenzhen Component Index fell 2.83% to 12118.7 points, and the ChiNext Index dropped 4.25% to 2776.25 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 25,823 billion yuan, an increase of 1,862 billion yuan compared to the previous day [1] Sector Performance - The semiconductor sector led the decline, with stocks like Cambricon falling over 14% and several others dropping more than 10% [1][12] - The CPO concept stocks also saw significant declines, with New Yisheng and Tianfu Communication dropping over 15% [1][12] - Conversely, the food and beverage, tourism, and retail sectors experienced a collective rise, with stocks like Runpu Food and Huanlejia hitting the daily limit [1][8] Financial Sector - The financial sector showed signs of recovery towards the end of the trading session, with brokerage and banking stocks rebounding [3] - Pacific Securities hit the daily limit, while Huayin Securities rose nearly 6% [3] - Agricultural Bank of China saw a rise of over 5%, reaching a new historical high, and its market capitalization surpassed that of Industrial and Commercial Bank of China, making it the new "universe bank" [5][6] Banking Sector Performance - In the first half of 2025, listed banks reported a total operating income of 2.92 trillion yuan, a year-on-year increase of approximately 1%, and a net profit attributable to shareholders of 1.1 trillion yuan, up 0.8% year-on-year [6] - The banking sector is expected to benefit from improving fundamentals and policy measures aimed at boosting consumer demand [7] Consumer Sector Trends - The consumer sector is showing signs of recovery, with a focus on quality upgrades and new consumption opportunities driven by technological advancements [10][11] - The food and beverage sector saw strong performance, with several stocks reaching their daily limits [8][9] Technology Sector Decline - The technology sector, particularly semiconductors and chips, experienced significant declines, with stocks like Dongxin falling over 17% and Cambricon dropping over 14% [12][13] - Cambricon has seen a cumulative decline of over 24% in the past five trading days after reaching a historical high [14]

Market Overview - A-shares continued to decline on September 4, with the Shanghai Composite Index dropping over 2% at one point, while the ChiNext Index fell over 5% before narrowing its losses towards the end of the trading day [1] - The Shanghai Composite Index closed down 1.25% at 3765.88 points, the Shenzhen Component Index fell 2.83% to 12118.7 points, and the ChiNext Index decreased by 4.25% to 2776.25 points [1] Sector Performance - The semiconductor sector led the decline, with stocks like Cambricon falling over 14% and several others dropping more than 10% [2][12] - The CPO concept stocks also saw significant declines, with New Yisheng and Tianfu Communication dropping over 15% [2] - Conversely, the food and beverage, tourism, and retail sectors experienced a collective rise, with stocks like Runpu Food and Huanlejia hitting the daily limit [2][8] Financial Sector Insights - The financial sector showed signs of recovery towards the end of the trading day, with notable gains in brokerage and banking stocks [3][5] - Agricultural Bank of China saw its stock rise over 5%, surpassing Industrial and Commercial Bank of China in total market capitalization, thus becoming the new "universe bank" [2][6] - In the first half of 2025, 44 listed brokerages achieved a net profit of 948.46 billion yuan, marking a year-on-year increase of 52.9% [4] Future Outlook - Institutions forecast that the securities industry will benefit from high trading volumes and a normalized equity financing environment, leading to improved performance in the second half of 2025 [5][7] - The banking sector is also expected to see positive developments, with a focus on retail loan demand and risk improvement [7] Consumer Sector Trends - The consumer sector is showing signs of recovery, with a focus on rational consumption and quality upgrades [10][11] - Traditional consumer sectors are also experiencing a rebound, particularly in essential goods [11] Technology Sector Decline - The technology sector, particularly semiconductors, faced significant declines, with stocks like Dongxin and Cambricon dropping over 14% [12][14] - Cambricon has seen a cumulative drop of over 24% in the last five trading days following a peak in late August [14]

Market Overview - The three major stock indices collectively declined, with the Shanghai Composite Index falling over 1%, the Shenzhen Component Index down nearly 3%, and the ChiNext Index dropping over 4% [1][2] - The overall market sentiment was negative, with nearly 3000 stocks declining [1] Sector Performance - The consumer sector was active, with food and beverage, retail, and beauty care leading the gains; notable stocks included Huanlejia and Huijia Times, both hitting the daily limit up [1] - The financial sector saw afternoon activity, with Pacific Securities hitting the daily limit up and Agricultural Bank of China showing significant gains [1] - Conversely, the computing hardware sector experienced a broad decline, with Tongfu Microelectronics hitting the daily limit down; semiconductor stocks weakened, with Cambrian Technology dropping over 13% [1] - The military industry sector continued to adjust, with Beifang Changlong briefly hitting the daily limit down [1] Closing Figures - At market close, the Shanghai Composite Index stood at 3765.88 points, down 1.25%; the Shenzhen Component Index at 12118.70 points, down 2.83%; and the ChiNext Index at 2776.25 points, down 4.25% [2] - The dairy, retail, and duty-free shop sectors showed the highest gains, while CPO concept, semiconductors, and optical technology sectors faced the largest declines [2]

Market Overview - Major A-share indices collectively declined, with the Shanghai Composite Index falling by 1.25% to 3765 points, the Shenzhen Component Index down 2.83%, the ChiNext Index down 4.25%, and the STAR Market 50 Index down 6.08% [1][2] - The total trading volume for the day reached 2.58 trillion yuan, an increase of 186.2 billion yuan compared to the previous trading day [1] Sector Performance - The CPO concept stocks experienced significant declines, with companies like Tianfu Communication, Taicheng Light, and Xinyi Sheng dropping over 10% [4] - The semiconductor and memory chip sectors also faced substantial losses, with stocks such as Cambrian Technology, Haiguang Information, and Huahong Technology falling more than 10% [4] - The communication equipment sector declined, highlighted by Cambridge Technology hitting the daily limit down [4] - Other sectors like PCB and electronic components weakened, with companies such as Dongshan Precision and Hudian Co. also hitting the daily limit down [4] - Conversely, the commercial retail and tax refund store sectors showed resilience, with stocks like Guoguang Chain and Baida Group reaching the daily limit up [4] - Consumer stocks, particularly in dairy, prepared dishes, and food and beverage sectors, saw gains, with companies like Huanlejia and Anji Food hitting the daily limit up [4] - The banking sector experienced fluctuations but trended upwards, with Agricultural Bank reaching a new high [4] - The pet economy sector surged, with Yiyi Co. hitting the daily limit up [4] - Outdoor camping, supply cooperative concepts, and tourism hotel sectors also showed strong performance [4]

Market Overview - The stock indices experienced a significant decline, with the Shanghai Composite Index dropping over 2% at one point, and the Shenzhen Component Index and ChiNext Index also seeing substantial decreases [1] - At the close, the Shanghai Composite Index fell by 1.25% to 3765.88 points, the Shenzhen Component Index decreased by 2.83% to 12118.7 points, and the ChiNext Index dropped by 4.25% to 2776.25 points, while the Sci-Tech 50 Index fell by over 6% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 25,823 billion [1] Sector Performance - Semiconductor, military industry, and CPO concepts saw declines, while tourism, catering, food and beverage, and retail sectors collectively rose [1] - Emerging concepts such as duty-free, pet economy, and new battery technologies were active in the market [1] Investment Insights - Despite recent market fluctuations, the margin financing balance and the ratio of circulating market value are at historical averages, indicating that overall valuation levels are not high [1] - Most heavyweight stocks remain at low levels, suggesting that the market is not overheated [1] - Current volatility is attributed to concentrated trading in certain popular sectors, leading to short-term technical adjustment pressures, but this does not affect the medium-term trend [1] - The expectation of a rate cut by the Federal Reserve in September may create conditions for easing Chinese monetary policy, further supporting market confidence [1] - From an industry allocation perspective, emerging technology remains the main theme of the market with long-term growth potential, while cyclical and financial sectors are expected to become dark horses, providing additional sources of returns [1]

Market Overview - The Shanghai Composite Index fell by 1.97% to 3738.32 points, while the Shenzhen Component Index decreased by 2.37% to 12176.9 points, and the ChiNext Index dropped by 3.2% to 2806.63 points [2][3] - Over 2600 stocks in the market experienced declines, indicating a broad market downturn [2] Sector Performance - The tourism and hotel sector showed resilience with a gain of 3.21%, while the battery sector increased by 2.27% [4] - Conversely, the semiconductor sector faced significant losses, contributing to the overall market decline [2][7] Trading Volume - The total trading volume of the Shanghai and Shenzhen markets exceeded 1 trillion yuan, marking an increase of over 160 billion yuan compared to the previous day [8] Gold and Silver Prices - Spot gold prices fell below $3520 per ounce, reflecting a daily decrease of 1.27% [5] - Spot silver also saw a decline of 1%, trading at $40.78 per ounce [9] Futures Market - The FTSE China A50 Index futures dropped by over 2% during the trading session [6] Notable Stocks - Significant movements were observed in stocks such as Zhengye Technology, which hit a 20% limit up, and Shengli Precision, which rose by 10.09% [15][16]

Market Overview - Major A-share indices collectively declined, with the Shanghai Composite Index falling by 1.25% to 3765 points, the Shenzhen Component down 2.83%, the ChiNext Index down 4.25%, and the STAR Market 50 Index down 6.08% [1][2] - The total trading volume for the day reached 2.58 trillion yuan, an increase of 186.2 billion yuan compared to the previous trading day [1] Sector Performance - The CPO concept stocks experienced significant declines, with companies like Tianfu Communication, Taicheng Light, and Xinyi Sheng dropping over 10% [3] - The semiconductor and memory chip sectors also faced substantial losses, with stocks such as Cambrian and Huagong Information falling more than 10% [3] - The communication equipment sector weakened, highlighted by Cambridge Technology hitting the daily limit down [3] - Other sectors like PCB and electronic components saw multiple stocks, including Dongshan Precision and Hudian Co., hit the daily limit down [3] - Conversely, the commercial retail and tax refund store sectors showed strength, with stocks like Guoguang Chain and Baida Group reaching the daily limit up [3] - Consumer stocks, particularly in dairy, prepared dishes, and food and beverage sectors, led the gains, with companies like Huanlejia and Anji Food hitting the daily limit up [3] - The banking sector showed a slight upward trend, with Agricultural Bank reaching a new high [3] - The pet economy sector saw a rise, with Yiyi Co. hitting the daily limit up [3] - Outdoor camping, supply cooperative concepts, and tourism hotel sectors also performed well [3]

Market Performance - On September 4, A-shares showed mixed performance at the opening, followed by a collective decline [1] - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closed down by 1.25%, 2.83%, and 4.25% respectively, ending at 3765.88 points, 12118.7 points, and 2776.25 points [1] Sector Performance - Sectors such as commercial retail, tax refund stores, and community group buying saw significant gains [1] - Conversely, sectors including CPO concepts, stocks priced at 100 yuan, and high-bandwidth memory experienced notable declines [1] Stock Performance - A total of 2297 A-shares rose, with 43 stocks hitting the daily limit up [1] - Meanwhile, 2990 stocks declined, with 47 stocks hitting the daily limit down [1] Trading Volume - The trading volume in the Shanghai market reached 11078.92 billion yuan, while the Shenzhen market recorded 14363.65 billion yuan, leading to a combined trading volume of approximately 2.54 trillion yuan [1]

Market Overview - Major A-share indices collectively declined, with the Shanghai Composite Index falling by 1.25% to 3765 points, the Shenzhen Component Index down by 2.83%, and the ChiNext Index dropping by 4.25% [1][2] - The total trading volume reached 2.58 trillion yuan, an increase of 186.2 billion yuan compared to the previous trading day [1] Index Performance - Shanghai Composite Index: 3765.88, down 47.68 points (-1.25%) [2] - Shenzhen Component Index: 12118.70, down 353.29 points (-2.83%) [2] - ChiNext Index: 2776.25, down 123.12 points (-4.25%) [2] - Kweichow Moutai and other major indices also showed declines, with the CSI 300 down 2.12% and the CSI 500 down 2.48% [2] Sector Performance - CPO concept stocks experienced significant declines, with companies like Tianfu Communication and Taicheng Light falling over 10% [3] - Semiconductor and storage chip sectors also faced major drops, with stocks like Cambrian and Huagong Technology declining over 10% [3] - Communication equipment sector weakened, with Cambridge Technology hitting the daily limit down [3] - Conversely, retail and consumer sectors showed resilience, with retail stocks gaining 2.89% and food and beverage stocks also performing well [3] - The banking sector saw fluctuations but included notable gains, with Agricultural Bank of China reaching new highs [3]