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China Fund News Amman

Today, A-shares ushered in a major adjustment. On July 26, the Shanghai and Shenzhen Stock Exchanges issued a notice stating that they decided to adjust the information disclosure mechanism for Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect transactions from August 19, 2024.

Today is the first day of the new information disclosure mechanism. The three major indexes opened slightly lower and then rebounded. The Shenzhen Component Index and the ChiNext Index rose by more than 1% during the session, then fell back and the increase narrowed. As of midday close, the Shanghai Composite Index rose by 0.53%, the Shenzhen Component Index rose by 0.35%, and the ChiNext Index rose by 0.21%.

On the market, cross-border payment concepts surged, with Beijing North, Sifang Jingchuang, Rendong Holdings, Huafeng Microfiber, and Qingdao King King hitting their daily limit. Huawei HiSilicon concepts continued to be strong, with Skyworth Digital, Shenzhen Huaqiang, and Haoshanghao hitting their daily limit. Gold concepts strengthened, with Yulong Shares and Laisen Tongling hitting their daily limit. The banking sector continued to rise, with Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank hitting record highs during the session.

In terms of decline, AI glasses concepts, copper cable high-speed connections, components, pharmaceuticals, general machinery and other sectors saw the largest declines.

The Big Four Banks hit a new record high

In the morning trading of August 19, bank stocks continued to rise. The four major state-owned banks, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank, collectively set new historical highs in the morning trading.

Bank of Communications, Pudong Development Bank and China Everbright Bank also set new highs for the year.

Pre-sale first, available tomorrow

Multiple stocks hit daily limit

Although there is still one day away from the official release (August 20), as the media ratings of "Black Myth: Wukong" have settled, this game has become one of the hot topics in the domestic and international gaming circles in recent times.

In global media reviews, this game received generally positive reviews. The average score of 54 media included in the world-renowned rating website MetaCritic reached 82 points. IGN China even gave it a full score of 10, calling it a "milestone in China's gaming industry."

In early June, Black Myth: Wukong started global pre-sales and topped the global game pre-sales ranking.

The emergence of hit games often drives up the stock prices of related listed companies. This phenomenon is particularly evident in the A-share market, and the related concept stocks are no exception.

As the publisher of the game, Zhejiang Publishing Group's stock price has recently surged along with the game's popularity, rising by more than 8% again in early trading on August 19.

In addition, online game concept stocks rose in the morning, Xinxunda 20cm hit the daily limit, and Caesar Culture hit the daily limit.

Kunlun Wanwei, Fuchun Shares and others rose sharply.

Guotai Junan Securities stated that "Black Myth: Wukong" may have far-reaching significance for the overseas expansion of domestic games and the export of Chinese culture, and the attention to the gaming sector is expected to continue to rise.

Kaiyuan Securities' research report also pointed out that the hot pre-sale of "Black Myth: Wukong" shows the strong appeal of high-quality domestic games to the market. The development of domestic 3A games will not only help improve the overall level of China's game industry, but also bring considerable economic benefits to related companies.

In the morning session today, the share price of Tencent Holdings, one of the shareholders of the game, also turned positive at one point.

Editor: Captain

Audit: Wooden Fish

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