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china fund news reporter chen xi

hello everyone! let's pay attention to the market conditions and latest information in the morning~

on the morning of september 6, the a-share market rose and then fell. the shanghai composite index turned green before noon, and the chinext index fell by more than 1%. as of the midday close, the main market indexes were collectively in the red; a total of 4,466 stocks fell, 176 remained unchanged, and only 702 stocks rose; the half-day turnover was 351.73 billion yuan, a slight decrease from the previous month.

on the market, household goods, education, coal, daily chemical, photovoltaic and other sectors fell one after another in the morning, and concepts such as high-speed copper connections, radio frequency and antennas, and cro fell the most; large financial institutions collectively protected the market, shanghai state-owned assets concepts became popular, and auto stocks rose during the session.

due to the weather, the hong kong stock market was suspended today. the hong kong observatory said on september 6 that the hong kong stock exchange's securities market and derivatives market were suspended all day on the 6th because the no. 8 gale or storm signal would last at least until 12 noon that day.

see the details——

guidance on expected mergers of giants

brokerage stocks rose against the trend

on september 6, the a-share market's financial sector performed best, and brokerage stocks rose against the market trend. as of midday close, jinlong securities and guohai securities still maintained their daily limit. tianfeng securities and china galaxy securities both hit their daily limit in the morning, and cicc rose nearly 8% during the session.

late last night, guotai junan and haitong securities both announced that they were planning a major asset reorganization. guotai junan will issue a shares to all a-share shareholders of haitong securities and h shares to all h-share shareholders of haitong securities to absorb and merge haitong securities and issue a shares to raise matching funds.

the news shocked the market, and the name of the merged "giant" company also caused heated discussions. although both companies were suspended, guohai securities' strong daily limit in the morning was also joked by investors as "a good name". as of midday close, guohai securities bought more than 1.52 million lots.

minsheng securities research report believes that under the background of supply-side reform, mergers and acquisitions and business transformation are expected to become the main lines of transactions in the next stage, and the trend of leading securities firms building first-class investment banks and investment institutions through mergers and acquisitions, organizational innovation, etc. is expected to accelerate. it is recommended to continue to pay attention to securities companies that benefit more from supply-side reform, have a sound corporate governance system, and have the advantages of high dividends and low valuations.

in addition, the banking sector performed well in the morning, with overall performance being relatively strong. postal savings bank of china rose by more than 2%, while shanghai pudong development bank, bank of beijing, and bank of china all maintained a small increase.

auto stocks performed well

autonomous driving concept is hot

on the morning of september 6, the a-share auto sector rose during the session, with lianchuang electronics, power new technology, jinjiang online, jac motors, kaizhong precision, king long motors and many other stocks hitting the daily limit. however, the market fell in the morning, and jiaoyun shares, king long motors, jac motors and others hit the daily limit.

on the news front, tesla's ai team recently announced the current progress and short-term development goals of fsd (full autonomous driving technology) on social media: fsdv12.5.2 will be pushed in september this year, the takeover rate will be improved by 3 times, and true smart summoning will be pushed; fsd's parking and reversing capabilities will be pushed in october, and the average takeover rate of fsdv13 will be improved by 6 times; fsd is expected to be launched in china in the first quarter of 2025 (subject to regulatory approval).

in addition, according to multiple media reports citing people familiar with the matter, intel is considering the feasibility of selling part of its stake in the autonomous driving business mobileye.

according to the forecast of the forward-looking industry research institute, china's driverless car market will continue to expand from 2024 to 2029, and is expected to exceed 29 billion yuan by 2029, with a compound annual growth rate of 17.57%. with the continuous iteration and upgrading of driverless technology, the intelligent driving industry is expected to usher in a golden period of development.

consumer electronics continues to pull back

kaisheng technology hits limit down

on the morning of september 6, the a-share electronics sector as a whole fell, and concepts such as consumer electronics, ai wearables, and ai mobile phones continued to pull back.

in terms of individual stocks, as of midday closing, kaisheng technology hit the daily limit, and many stocks such as zhuoyi technology, sino-british technology, and rijiu optoelectronics fell sharply. shanghai electric co., ltd., with a market value of 60 billion yuan, fell by more than 6%.

previously, triumph technology's stock price continued to rise, with the daily closing price increase deviation value reaching 20% ​​in two consecutive trading days on september 2 and september 3. in response, triumph technology said that it had recently noticed that the company was listed as a folding screen concept stock by the media. after self-examination, the company's ultra-thin flexible glass (utg) produced by the company has generated less than 3% of the total revenue so far, and it is expected to have limited contribution to the company's overall operating income in 2024.