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China Fund News Taylor

Brothers and sisters, in today's market, the three major indexes opened low and continued to fall. At two o'clock in the afternoon, the decline suddenly accelerated, and after half past two, it continued to "fall sharply".

Let's take a look at what happened.

A shares opened lower and went lower

The three major indexes opened lower and fell today. The Shanghai Composite Index fell more than 1.6% in the afternoon, the ChiNext Index fell more than 3% in the late trading, and the Science and Technology Innovation 50 Index fell more than 4%. As of the close, the Shanghai Composite Index fell 1.65%, the Shenzhen Component Index fell 2.97%, and the ChiNext Index fell 3.04%.

A total of 568 stocks rose in the two markets, while 4,672 stocks fell.

DRGs concept stocks exploded in the afternoon, with Wanda Information, HeRen Technology, Guoke Hengtai, Saili Medical, Hefu China and many other stocks hitting the daily limit. On the news front, the Office of the National Healthcare Security Administration issued a notice on the issuance of the 2.0 version of the grouping plan for payment by disease group and disease type score and the in-depth promotion of related work, exploring the inclusion of medical expenses in other places into the DRG/DIP management scope. Provinces with conditions are encouraged to implement DRG/DIP payment for medical treatment in other places within the province, and manage it in accordance with the payment methods and standards of the place where the medical treatment is received, consolidate the local management responsibilities of the medical insurance department in the place where the medical treatment is received, standardize the medical service behavior of patients in other places, and promote reasonable diagnosis and treatment, and treatment according to the disease. Gradually study and explore the payment of DRG/DIP for medical treatment in other places across provinces.

Market funds flocked to bank stocks, with Agricultural Bank of China, Industrial and Commercial Bank of China and Bank of China all hitting record highs.

The semiconductor sector plummeted, and the Science and Technology Innovation 50 Index fell by more than 4%. On the news front, Xinyuan Micro, Lanqi Technology, and Juchen Shares collectively issued shareholder inquiry transfer plan announcements last night. All three companies commissioned CITIC Securities to organize and implement the inquiry transfer.

Non-ferrous metal concept stocks fluctuated downward, with many stocks such as Luoyang Molybdenum Co., Ltd. falling by more than 5%.

It is worth noting that at 2 p.m., the market observed no new funds, and the three major indexes subsequently accelerated their decline. At 2:30 p.m., there was still no funding to support the bottom, and the indexes fell further in the late trading.

India Breaking News

Today, the Indian stock market suddenly crashed during trading, and then the decline narrowed. The Indian SENSEX index fell 1% at one point, and the Indian NIFTY small-cap index fell 5.3%.

On the news front, India launched a 2 trillion Indian rupee economic stimulus package. The Indian Finance Minister raised capital gains tax on short-term and long-term profits of certain financial assets, and the stock market's worst fears came true, which led to a sudden drop in the Indian stock market.

Indian Finance Minister Sitharaman said that the tariffs on gold and silver will be reduced, and the gold tariff will be reduced to 6%. The Finance Minister also expects India's total expenditure in fiscal year 2025 to be 48.21 trillion rupees, and sets the budget deficit target for fiscal year 2025 at 4.9% of GDP. In addition, India plans to formulate a five-year strategic document for the financial sector, which will simplify foreign direct investment and overseas investment rules.