Market Overview - The market experienced a significant decline with a large reduction in trading volume, as the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index fell by 0.68%, 1.62%, and 1.91% respectively, with over 3,800 stocks declining and only about 1,400 stocks rising [3] - The total trading volume for the two markets was only 1.15 trillion [3] Sector Performance - The "Ergothioneine" concept stocks surged, with companies like Bavi Co., Chuaning Bio, and Tuoxin Pharmaceutical hitting the daily limit up [6] - The cosmetics and synthetic biology sectors also saw collective gains, with several stocks reaching their daily limit [7] - The textile and dyeing sectors performed well, with stocks like Yingfeng Co. and Suzhou Longjie achieving multiple consecutive gains [3] - Other sectors such as food, beverages, and agricultural planting showed localized strength, while cross-border payment, computing power, fintech, and magnetic levitation compressor sectors faced significant declines [3] Ergothioneine Concept - The emergence of the "Ergothioneine" concept was sudden, reportedly driven by a viral post claiming a 60-fold increase in sales [8] - A week prior, media coverage of a promotional video featuring the chairman of Kelun Pharmaceutical, showcasing his physique at 75 years old, contributed to the hype [8][9] - Despite the surge in related stocks, Kelun Pharmaceutical itself only saw a modest increase of less than 3% [10] - The phenomenon is characterized as a "manufactured concept," similar to previous trends that have emerged in the market [11][12] Shipping Sector - Following two days of significant gains, media reports highlighted a "90-day window period" leading to a surge in shipping demand, with some companies experiencing price increases of 20% [17] - Stocks in the shipping and port sectors initially opened strong but later retreated, with overall gains of 0.2% and 0.51% respectively [19] Technology Sector - Hongjing Technology announced a contract worth 563 million for server and computing power services, which is seen as positive news [21] - However, the stock experienced a decline of over 9% following a significant prior increase, indicating market skepticism [21] Focus on Strong Stocks - The market saw a widespread decline, but certain "stronghold stocks" continued to perform well, with notable gains in stocks like Yuzhisanxia and Huafang Co. [24] - The market behavior reflects extreme volatility, with some stocks experiencing significant gains while others struggle [24]