On December 16, 2024, the A-share market fluctuated and trended lower throughout the day, with the ChiNext Index leading the decline. All three major indices collectively fell, with the trading volume in the Shanghai and Shenzhen markets shrinking by nearly 370 billion compared to the previous trading day.
By the closing bell, the Shanghai Composite Index fell by 0.16% to close at 3386 points, while the ChiNext Index dropped by 1.51% to 2201 points, and the Shenzhen Component Index decreased by 1.3% to 10573 points.
Nearly 3500 individual stocks in the market experienced declines, with over 30 stocks hitting their downward limit, marking an increase of nearly 70% compared to the previous trading day and reaching a new high in nearly three weeks since November 26.
The total trading volume in the Shanghai and Shenzhen markets amounted to 1.7 trillion yuan, with a decrease of 369.4 billion yuan compared to the previous trading day.
The net outflow of main funds in the Shanghai and Shenzhen markets totaled 66.201 billion yuan throughout the day. Analyzed by Data Treasure, there was a net outflow of 10.368 billion yuan in main funds in A-shares at the close. In terms of industries, the outflow of funds in the electronics, computer, and machinery sectors was significant, all exceeding 1 billion yuan.
In the afternoon, gaming stocks continued to decline, with China Youzu Interactive leading the losses; the semiconductor sector weakened, with companies like StarChip Technology and UNISOC at the forefront of the decline; the consumer electronics sector followed suit, with Tianjian Technology leading the downward trend. Overall, more stocks fell than rose.
Bao Dike, Chief Editor of “Peking University Business Review” and a popular Weibo user, questioned, “After plummeting the index yesterday, today it’s the individual stocks. Has the short-term decline already hit bottom? With speculative funds continually exiting and strengthened supervision, scarce new topics for speculation, what can support a medium-term rise?”
Financial blogger “Sister Yun Talks Finance” analyzed in a post, “The fact that the trading volume in the Shanghai and Shenzhen stock markets shrank by nearly 370 billion compared to the previous trading day indicates a significant decline in market enthusiasm and a weakening market atmosphere for today. This reflects a lack of confidence.”
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This article was originally published on December 16, 2024 by 大紀元 and written by 夏松.