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On August 14, the three major A-share indices fluctuated downward. The Shanghai Composite Index fell 0.6% to close at 2850.65 points; the Shenzhen Component Index fell 1.17% to close at 8311.00 points; and the ChiNext Index fell 1.42% to close at 1584.33 points.

The total turnover of the two markets was 477.5 billion yuan, which was basically the same as the previous trading day. In terms of individual stocks, about 1,370 stocks rose in the two markets today.

Hot sectors of A-shares rotated frequently. Online games, large infrastructure, superconductors, and electricity sectors were among the top gainers, while biomedicine, lithium batteries, and pig industries were among the top losers.

Wind data shows that the Internet, power, software, electronic components, communication equipment, cultural media and other sectors have received net inflows of major funds, while the electrical points, basic metals, wine, heavy machinery, pharmaceuticals and other sectors have seen net outflows of major funds.

Doctor glasses 3-piece set

Consumer electronics stocks moved again in the afternoon, with Shuobei Technology rising to its 20% daily limit. Zowee Technology, Yingtong Communication, Sega Technology, Yidao Information, Jiahe Intelligent, and Rapoo Technology followed suit.

According to foreign media reports, Apple is stepping up the development of a number of new smart glasses products and plans to launch a cheaper version of Vision Pro in 2025. Stimulated by this news, A-share related AI smart glasses concept stocks soared.

Mingyue Lenses and Dr. Eyeglasses both hit their 20% daily limit today. Among them, Dr. Eyeglasses has hit 20% daily limit three times in a row this week.

On the evening of the 13th, Dr. Eyeglasses issued an unusual movement announcement stating that it was not aware of any information that should be disclosed but was not disclosed by the company and would have a significant impact on the stock trading price.

On August 14, Dr. Eyeglasses stated on an interactive platform that the company is currently committed to the “last mile” fitting service of smart glasses and has not yet been involved in the research and development of smart glasses.

Dashengda hit the limit down

After the opening, Dashengda's stock price plummeted to the limit, setting a new low since its listing. By the closing, the number of blocked orders exceeded 84,000.

On the evening of August 13, Dashengda announced that it had received a notice from the family of its actual controller and chairman Fang Nengbin, that Fang Nengbin's family had recently received a notice issued by the Luoyang Xigong District Supervisory Committee that Fang Nengbin was detained and under investigation.

Dashengda said that the company has made proper arrangements for the relevant work. At present, the company's other directors, senior management and supervisors are performing their duties normally, the company's board of directors is operating normally, and the company's financial and production and operation management are normal.

Lithium carbonate continues to decline

From upstream lithium mines to downstream lithium batteries, the lithium battery sector as a whole fell today, with many individual stocks falling by more than 5%.

Recently, the price of lithium carbonate has attracted much attention from the market. Since May, the price of the main lithium carbonate futures contract has continued to fall.

On August 14, the main contract of lithium carbonate futures (Lc2411) fell more than 5% during the session, rebounded in the late trading, and closed at 73,450 yuan/ton, setting a new low, which was obviously below the supply and demand balance cost line of 80,000 yuan/ton generally believed in the industry.

Hongyuan Futures' lithium carbonate weekly report mentioned that although the supply of lithium carbonate has decreased to a certain extent, it still remains at a high level. The demand has not increased significantly, and the support on the cost side has continued to weaken. The supply-demand pattern has not changed. The inventory pressure is relatively large. The upstream and traders have a strong mentality to ship. Although there is a certain amount of bargain hunting in the downstream, the willingness to purchase is still weak. It is expected that the lithium price will fluctuate weakly.

Maike Futures Research believes that from the perspective of smelting last week, the national lithium carbonate production fell slightly, and the inventory continued to grow sharply at a high level, but the accumulation rate slowed down slightly compared with the previous two weeks, and the overall supply pressure is still there. In the context of the market's continuous profit compression, some Australian mines have experienced cost pressure, while the global resource end is still expanding as a whole. Based on the obvious differences in sentiment given by drivers and valuations, short-term sentiment is still weak and may continue to test downward to see a significant reduction in supply. To stop the decline, we need to see a significant reduction in supply to balance supply and demand.

Tencent Music's Hong Kong shares fell nearly 20%

As for Hong Kong stocks, after rising for five consecutive trading days, Hong Kong stocks consolidated today. As of press time, the Hang Seng Index fell 0.56%, and the Hang Seng Technology Index fell 1.2%. Dongfangxuan fell more than 7% today, China Literature fell 3%, and NetEase fell 4%.

After Tencent Music announced its second quarter results last night, its US stock price plummeted by 15%. Today, Tencent Music's Hong Kong stock price also plummeted, with a drop of more than 20% after the opening, and a drop of more than 17% as of press time.

According to Tencent Music's financial report, in the second quarter of 2024, the company's total revenue was 7.16 billion yuan, a year-on-year decrease of 1.7%, mainly due to the decline in social entertainment services and other service revenues. In the second quarter, the company's online music subscription revenue increased by 29.4% year-on-year to 3.74 billion yuan, and the number of online music paying users increased by 17.7% year-on-year to 117 million yuan, a net increase of 3.5 million from the previous quarter. In the second quarter, Tencent Music's net profit was 1.79 billion yuan, a year-on-year increase of 33.1%.

Morgan Stanley's latest research report mentioned that Tencent Music's stock price adjusted after the announcement of its results, mainly because the guidance target of a net increase of 2 million music users per quarter has slowed down since the second half of the year; but the medium-term target of 150 million users and an average monthly revenue of RMB 15 per paying user by 2028 remains unchanged.

Japanese stocks turn positive in late trading

Influenced by the news that the current Prime Minister Kishida Yufumi will resign, the Japanese stock market once plunged from a rise of more than 1% in the morning to turn green, and then turned positive in the afternoon. The Nikkei 225 index closed at 36442.43 points, up 0.58%.

Most other indices in the Asia-Pacific market rose. South Korea's KOSDAQ index rose 1.56% to close at 776.83 points, close to the point before the plunge on August 5.

On August 14, the Reserve Bank of New Zealand unexpectedly announced that it would cut interest rates from 5.5% to 5.25%, the first rate cut in New Zealand since March 2020. Influenced by this news, the New Zealand dollar-US dollar exchange rate plunged sharply, falling by more than 1% in the short term and now at 0.6017.

Editor: Chen Lixiang

Proofreading: Wang Wei

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