As of the midday closing, the Shanghai Composite Index fell 0.43% to 2969.45, the Shenzhen Component Index fell 0.4%, and the Chinext Price Index fell 0.22%.
Main A-share indexes collectively fell. As of noon, the Shanghai Composite Index fell 0.43% to 2,969.45 points, the Shenzhen Component Index fell 0.4%, and the ChiNext Price Index fell 0.22%. Over 4,500 shares declined, with a total turnover of 339.9 billion yuan in the morning session, a decrease of 34.6 billion yuan from the previous day.
On the plate, the coal sector strengthened, and Jinneng Holding Shanxi Coal Industry and China Shenhua Energy reached new highs for more than a decade during the intraday; electricity stocks continued to rise, and Hunan Chendian International Development and Xinzhongtian 2 consecutively hit the limit up; cross-border e-commerce concept stocks rose sharply, Guangxi Xinxunda Technology Group (新迅达) and Kaichun shares rose by 20%, and the Executive Meeting of the State Council deliberated and passed the "Opinions on Expanding Cross-border E-commerce to Promote Overseas Warehouse Construction"; port and shipping stocks generally rose, Phoenix Shipping rose by limit up, Cosco Shipping Holdings rose by more than 6%; logistics, precious metals and other sectors rose the most. The real estate development sector fell, Xinhualand fell by limit down; black appliances were mostly down, Sichuan Jiuzhou Electric fell by nearly 7%; consumer electronics, defense industry, military industry, semiconductors and other sectors fell the most.Robot concept stocks rose against the trend. Hengdian Precision, Leadshine Technology, and Olympic Circuit Technology all hit the daily limit, and Tesla officially announced that the second-generation humanoid robot Optimus will debut in Shanghai, while gold stocks rose across the board, with Shandong Gold and Leysen Jewelry Inc. up over 3%, and spot gold breaking through $2,360/ounce, reaching a two-week high.
Tax-free concept stocks fell back, with Shanghai Bailian Group falling more than 6%, and Zhongbai Holdings Group and China Tourism Group Duty Free Corporation fell 4%; Real estate stocks fell, with Rongfeng Holding Group falling to the daily limit, and China Fortune Land Development fell over 6%; The tourism and hotel sector weakened, with Juntai Hotel and Nanjing Business & Tourism Corp.,Ltd falling nearly 6%; Financial and tax digitization concepts also fell, with Shuiyou Shares falling to the daily limit and Watertek Information Technology falling over 8%; Internet e-commerce, medical services, and farming industries posted the biggest declines.
Robot concept stocks rose across the board with Hengdian Precision hitting the daily limit.
Hengdian Precision, Leadshine Technology, and Olympic Circuit Technology all hit the daily limit, while Wanda Axle Bearing rose more than 13%, and Slingtech, Wuxi Best Precision Machinery, Ready Motion, Shanghai Beite Technology, and Fullhan Microelectronics were among the top gainers. Tesla officially announced that the second-generation humanoid robot Optimus will make its first appearance at the 2024 World Artificial Intelligence Conference in Shanghai from July 4th to 7th.
Gold stocks rose across the board, with Shandong Gold up over 3%.
Jincheng Gold Corp.,Ltd, Zangge Mining, and CMOC Group Limited were among the gainers along with Gold Trust International, Shandong Gold, and Leysen Jewelry Inc., which rose over 3%. Spot gold broke through $2,360/ounce yesterday to its highest level in two weeks.
Real estate shares fell with Rongfeng Holding Group hitting the daily limit.
Rongfeng Holding Group fell to the daily limit, and China Fortune Land Development, Casin Real Estate Development Group, Shenzhen SDG Service, Beijing Airport High-Tech Park, and Tande Co.,Ltd. all fell over 5%, while Yangguang Co.,Ltd., BEH-Property, Shenzhen Worldunion Group Incorporated, Risesun Real Estate Development, and Chongqing Yu Kaifa also fell by over 4%.
Tourism and hotel shares weakened, with Nanjing Business & Tourism Corp.,Ltd falling nearly 6%.
Nanjing Business & Tourism Corp.,Ltd, Juntai Hotel, and Jiangsu Tianmu Lake Tourism fell over 5.5%, while Xi'an Qujiang Cultural Tourism, Tibet Tourism, Huatian Hotel Group, Dalian Shengye, Xi'an Catering, Lander Sports Development, and Xi'an Tourism also fell.
