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Midday Review: Shanghai Composite Index fluctuates within a narrow range, and many bank stocks continue to hit new highs

2024-08-22

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Phoenix Finance reported that on August 22, the market fluctuated and adjusted in the morning, and the Shanghai Composite Index was relatively strong. As of midday close, the Shanghai Composite Index fell 0.04%, the Shenzhen Component Index fell 0.48%, and the ChiNext Index fell 0.48%.

Overall, more stocks fell than rose, with more than 3,600 stocks falling in the market. The half-day turnover of the Shanghai and Shenzhen stock markets was 336.8 billion, an increase of 18.6 billion from the previous trading day.

On the market, bank stocks maintained their strength, with Bank of China, Industrial and Commercial Bank of China, and China Construction Bank all hitting new historical highs, and Shanghai Bank and other stocks hitting new highs for the year. The ST sector was active against the trend, with more than 10 stocks such as *ST Jingfeng, ST Baili, *ST Furun, and *ST Tongmai hitting their daily limit. Solid-state battery concept stocks strengthened again, with Penghui Energy and Mengguli hitting their daily limit. Clothing and outdoor product concept stocks moved abnormally during the session, with Pathfinder, Sanfu Outdoor, and Ribo Fashion hitting their daily limit. On the downside, game stocks collectively adjusted, with Huayi Brothers falling more than 10%. In terms of sectors, ST sectors, banks, clothing, solid-state batteries and other sectors led the gains, while games, liquor, e-commerce, robots and other sectors led the declines.