Market Overview - The A-share market experienced a collective adjustment in the morning session, with the major indices showing declines. The China Securities A500 Index fell by 1.5%, the CSI 300 Index decreased by 1.3%, the ChiNext Index dropped by 2.4%, and the STAR Market 50 Index declined by 2.6% [1] - The Hang Seng Index also faced fluctuations, with the pharmaceutical sector opening high but closing lower, while technology stocks saw significant corrections [1] Sector Performance - Among the sectors, gas, precious metals, port shipping, coal mining and processing, steel, airport shipping, and banking showed the most significant gains [1] - Conversely, sectors such as grid energy storage, controlled nuclear fusion, cultivated diamonds, semiconductors, and lithography machine concepts experienced the largest declines [1] Index Details - The CSI 300 Index consists of 300 stocks with good liquidity from the Shanghai and Shenzhen markets, covering 11 primary industry categories. Its rolling P/E ratio is 14.4 times [3] - The China Securities A500 Index includes 500 securities with good liquidity, covering 91 out of 93 tertiary industries, with a rolling P/E ratio of 16.9 times [3] - The ChiNext Index is composed of 100 stocks from the ChiNext board, with a high proportion of strategic emerging industries, particularly in power equipment, communication, and electronics, which together account for nearly 60% [4] - The STAR Market 50 Index includes 50 stocks from the STAR Market, characterized by "hard technology" leaders, with a rolling P/E ratio of 42.8 times [4] - The Hang Seng China Enterprises Index consists of 50 large-cap, actively traded stocks listed in Hong Kong, with a broad industry coverage, where consumer discretionary, information technology, finance, and energy sectors account for nearly 85% [6]

Market Overview - The A-share market opened significantly lower but rebounded, with the Shanghai Composite Index closing down by 0.19% [1] - The CSI A500 Index and the CSI 300 Index both fell by 0.5%, while the ChiNext Index dropped by 1.1% [1] - The STAR Market 50 Index increased by 1.4%, and the Hang Seng China Enterprises Index declined by 1.5% [1] Sector Performance - Sectors that performed well included metals, rare earth permanent magnets, photolithography machines, semiconductors, military equipment, banking, and port shipping [1] - Sectors that underperformed included automotive parts, consumer electronics, gaming, weight loss drugs, and liquor [1] - In the Hong Kong market, pharmaceutical and technology stocks weakened, while energy stocks rose [1] Index Performance - The CSI 300 Index consists of 300 large-cap stocks with good liquidity, showing a price-to-earnings ratio of 14.2 times and a valuation percentile of 65.9% since its inception in 2005 [2] - The CSI A500 Index includes 500 stocks with good liquidity, with a price-to-earnings ratio of 16.9 times and a valuation percentile of 73.4% since its inception in 2004 [2] - The ChiNext Index, which tracks 100 large-cap stocks in emerging industries, has a price-to-earnings ratio of 43.8 times and a valuation percentile of 42.6% since its inception in 2010 [2] - The STAR Market 50 Index, consisting of 50 large-cap stocks, has a price-to-earnings ratio of 185.4 times and a valuation percentile of 99.3% since its inception in 2020 [2] - The Hang Seng China Enterprises Index, tracking 50 large-cap stocks listed in Hong Kong, has a price-to-earnings ratio of 10.7 times and a valuation percentile of 65.5% since its inception in 2002 [2]