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On August 20, the three major indexes opened high and closed low, and individual stocks showed a general decline.

As of closing, the Shanghai Composite Index fell 0.93%, the Shenzhen Component Index fell 1.24%, and the ChiNext Index fell 1.34%.

On the market, the Black Myth Wukong concept rose against the market trend, and many stocks such as Xinxunda, Qi Tian Technology, CITIC Publishing, and Zhejiang Edition Media hit the daily limit. The titanium metal concept rose against the market trend, and Jinpu Titanium Industry hit the daily limit.

The banking sector was partially active, with the four major banks of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank continuing to hit record highs. The coal sector fell collectively, with Pingmei Coal Group falling more than 8%. The transportation equipment, Huawei HiSilicon, medical care, environmental protection, and cultured diamond sectors led the decline.

In the external markets, on August 20, most of the major Asia-Pacific stock indices closed higher. The South Korean Composite Index closed up 0.83% at 2696.63 points. Most of the constituent stocks rose, of which 339 stocks rose by more than 1%.

Most Japanese stocks closed higher on August 20. The Nikkei 225 index closed at 38062.92 points, up 1.8% from the previous closing price and down 3.88% in the past 20 trading days. The Topix index closed at 2670.54 points, up 1.11% from the previous closing price and down 5.55% in the past 20 trading days.

Australia's S&P 200 index closed up 0.22% at 7,997.7 points, while New Zealand's S&P 50 index closed down 0.82% at 12,558.08 points.

In addition, spot gold reached $2,510 an ounce, setting a new record high.

Black Myth Wukong concept stocks stand out

Although nearly 4,600 stocks in the market fell, concept stocks surrounding "Black Myth: Wukong" still attracted capital.

On August 20, Black Mythology Wukong concept stocks continued to rise in the afternoon. Qi Tian Technology hit the daily limit of 20cm, Huayi Brothers rose more than 19%, CITIC Publishing, Zhejiang Publishing Group, Xinxunda and China Travel Service hit the daily limit, Zhishang Technology rose nearly 15% during the session, and Leyard rose more than 11%.

At 10 a.m. on August 20, the domestic 3A game masterpiece "Black Myth: Wukong" was launched simultaneously around the world, landing on PS5, Steam, WeGame and other platforms. One hour after its official release, it topped the list of Steam's most popular games.

In addition, speculative funds also began to let go, and various concepts took off. On August 20, Yunliwuli, a company listed on the Beijing Stock Exchange, rose by 30cm. In the investment community, a netizen left a message jokingly saying that Yunliwuli was the supplier of the somersault cloud in "Black Myth: Wukong". Xizang Tianlu once rose by the daily limit during the trading session, which means it participated in the construction of "Black Myth: Wukong"; Dongtu Technology once rose by more than 8% in the early trading session, which means it was the starting point of the journey to the West; Qitian Technology rose by 20cm, which is a homonym for "The Monkey King".

In response, several companies responded. Some media outlets called Xinxunda and China Travel United as investors. A person related to Xinxunda said, "The company has no business relationship with Game Science, the company affiliated with Black Myth: Wukong. The company's game business has been strategically tightened and is almost gone."

A person related to CITS responded that the company was not sure about the specific reason for the daily limit. "The company has been a supplier of Tencent's game brand in recent years, but it is not clear whether it has cooperated with Tencent on some popular games recently. Further confirmation is needed."

8Bitdo, a third-party controller manufacturer, announced that it has become the official global partner of Black Myth: Wukong and launched a co-branded controller related to the game. There are rumors in the market that Zhishang Technology is a core supplier of 8Bitdo, so it is regarded by the market as a concept stock related to Black Myth: Wukong. Zhishang Technology stated that the company is not currently cooperating directly with 8Bitdo. However, the company plans to increase its layout and expansion in the field of game components in the future, and seek to establish cooperative relationships with game manufacturers including Black Myth: Wukong.

The chairman was detained and the stock price fell to the limit

On August 20, Laimu shares opened at the limit down, with the share price at 6.26 yuan. As of the close, Laimu shares remained at the limit down.

Laimu Co., Ltd. announced on the evening of August 19 that the company recently received a notice issued by the Shanghai Hongkou District Supervisory Committee regarding the investigation and detention of the company's chairman and general manager Zhu Xinai. At present, the company has made proper arrangements for related work. With the unanimous election of all directors of the company, the company's deputy general manager Fang Peixi will act as the chairman and general manager during Zhu Xinai's detention.

It is reported that Laimu Co., Ltd. is a large-scale professional enterprise in China that has the ability to design, develop and produce connectors and shielding covers. The company focuses on product and mold research and development, and is supported by advanced mold development technology, precision stamping and injection molding and other manufacturing technologies. It provides internal and external connectors, and shielding covers that protect core components from electromagnetic interference for customers in multiple fields such as mobile phones and automobiles. Design solutions and products.

Zhu Xin'ai is the founder of the company. She served as executive director and general manager of Shanghai Laimu Electronics Co., Ltd. (the predecessor of Laimu Co., Ltd.) from 2003 to 2008; she has served as executive director of Shanghai Laimu Electronics Technology Co., Ltd. from September 2007 to date; she has served as executive director of Shanghai Kanglian Precision Electronics Co., Ltd. from May 2009 to date; she has served as executive director and manager of Hunan Laimu New Energy Technology Co., Ltd. from September 2022 to date; she has served as executive director and manager of Hunan Laimu Technology Co., Ltd. from November 2023 to date.

Since August 2008, Zhu Xin'ai has served as the chairman and general manager of Laimu Co., Ltd. In other words, Zhu Xin'ai has been in charge of this listed company for 16 years.

Coal sector falls

A-share coal stocks continued to fall in the afternoon of August 20, with Pingmei Group falling nearly 9%, Shanxi Coal Industry Group falling more than 6%, and Shanxi Coal International and Lu'an Environmental Energy falling more than 5%.

According to the China Electricity Council, high temperatures have continued in eastern my country recently, and the daily coal consumption of power plants has increased month-on-month, but rainfall in many places has a certain easing effect on the demand for electricity for cooling. The overall production and sales in the main coal producing areas in China are balanced, and some areas have slightly reduced the pit-mouth coal prices. In terms of ports, the coal reserves of power plants have always been much higher than the same period last year, and the destocking speed is slow. Considering that the beginning of autumn has passed, the cost of imported coal has dropped, and the power generation output of clean energy such as hydropower has increased, the demand for spot purchases by power plants is not high. But at the same time, due to the inverted shipping price, the shipping volume of port traders has always hovered at a low level. Comprehensively judging, it is expected that the spot price will continue to fluctuate and run weakly in the later period, but it is in the peak summer consumption stage and does not yet have the conditions for a sharp decline.

Hong Kong coal stocks also performed poorly on August 20. Yancoal Australia (03668.HK) plunged more than 22% to HK$27.7 during the session, hitting a new low since the end of April.

The announcement of Yancoal Australia's 2024 semi-annual financial results released last night showed that the company's revenue during the period was A$3.14 billion, and A$3.98 billion in the first half of 2023; the coal sales price fell 37% to A$176/ton, a drop that exceeded the 17% increase in equity coal sales.

The announcement stated that Yancoal Australia aims to achieve an operating level close to that of the second half of 2023 during the second half of 2024, in line with production guidance and within the range of cash operating costs. Capital expenditure in 2024 will likely be at the lower end of the guidance range.

Editor: Peng Bo

Proofreading: Li Lingfeng