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a new record for a-shares was born!

today, the new stock n zhongcao (zhongcao spice) of the beijing stock exchange continued to rise after opening, with the highest increase approaching 500%. it triggered temporary suspension twice during the trading session due to reaching the limit of increase. as of the close, it was reported at 25.6 yuan per share, up 241.33%, and the intraday turnover rate reached 98.36%, surpassing juneng shares.this is a record high for the daily turnover rate of a single stock since the implementation of the t+1 system in a-shares.

as of the close, the shanghai composite index fell 0.48%, hitting a new low; the shenzhen component index fell 0.88%; the chinext index fell 1.07%. this week, the shanghai composite index fell 2.23%, the shenzhen component index fell 1.81%, and the chinext index fell 0.19%.

end-of-day changes in pension conceptphoenix shares and yuexin health hit their daily limit, while aoyang health, zhongji health and rongjie health rose.

huaying technology hit the daily limit again in the late trading, breaking the "ceiling" during the day, and the turnover rate exceeded 24%.

due to the mid-autumn festival holiday, the shanghai stock exchange, shenzhen stock exchange, beijing stock exchange and the national equities exchange and quotation system will be closed from september 16 to september 17.

gold sector leads the gains

boosted by the record high of spot gold, many gold stocks strengthened today. pengxin resources rose to the daily limit, followed by zijin mining, shandong gold and china gold.

goldman sachs pointed out in its latest research report that gold is expected to continue its record-breaking rise until 2025, and continues to expect gold prices to hit a target price of $2,700 per ounce in early 2025. moreover, gold is the only commodity that it is clearly bullish on. the reason is that the federal reserve is about to cut interest rates, which will reduce the opportunity cost of holding gold and attract capital to return to the gold market, thereby pushing up gold prices. this capital repatriation did not occur when gold prices rose sharply in the past two years, but under the expectation of interest rate cuts, changes in the funding side have provided strong support for gold prices.

citic securities said that in the first half of 2024, the price of gold rose rapidly and maintained high fluctuations, and the consumption and investment attributes of gold were clearly reflected: the volume of gold jewelry fell, while the volume of gold bars rose; the operating performance of brands with a high proportion of investment gold (gold bars, gold coins, etc.) was less affected, and brands with strong design and brand power and in the growth stage achieved counter-cyclical growth. it is expected that the price of gold will remain high in the future. consumers gradually accept the high gold price and release the suppressed purchasing demand, and franchisees replenish inventory, which is expected to drive the recovery of gold jewelry sales; from the brand perspective, brands with a high proportion of investment gold, the realization of design and brand power, and the early stage of store expansion and growth may perform well; at the same time, pay attention to the increase brought by online business and overseas business.

new energy track collectively shut down

today, new energy stocks collectively went cold. lithium mining stocks fell, with tianqi lithium and ganfeng lithium leading the decline; solid-state battery stocks performed poorly throughout the day, with narada falling nearly 8%; photovoltaic stocks began to adjust, with taijia shares hitting the limit.

the new energy sector just saw a big surge yesterday, but today the market suddenly reversed. how should we grasp the future market? analysts of citic construction investment power equipment and new energy industry believe that from a fundamental perspective, the stock prices of new energy companies are at the bottom of the long cycle, and the signs of industry recovery have begun to appear. at present, it is in the initial stage of recovery. market expectations may fluctuate, and the sustainability of the recovery needs to be repeatedly verified. however, it is a relatively clear layout position for value investors so far, and the sector has long-term investment value.

l'occitane halts trading on hong kong stock exchange

at 9 am today, l'occitane (hereinafter referred to as l'occitane), a hong kong-listed company, officially stopped trading its shares. the company's shares have been suspended since august 7, and its latest total market value is hk$49.8 billion.

l'occitane issued a trading arrangement notice on september 10, stating that the company's listing status will be withdrawn at 9:00 am on october 16, 2024.

image source: company announcement

since the beginning of this year, l'occitane has been continuously advancing its privatization process. on april 29, l'occitane announced that reinold geiger, chairman of the l'occitane group, proposed to acquire the l'occitane shares it did not hold at a price of hk$34 per share, with a transaction valuation of 6 billion euros (approximately rmb 46.544 billion), and planned to delist l'occitane shares from the hong kong stock exchange. l'occitane stated in the announcement that this was done to allow the existing management team to continue to stay and operate the company's business, and privatization would enable it to invest more flexibly and implement strategies more effectively.

on august 6, l'occitane announced that it would send a compulsory acquisition notice to all remaining shareholders to compulsorily acquire all remaining shares. l'occitane applied to the hong kong stock exchange to suspend share trading at 9:00 a.m. on september 13, 2024 until the share listing status is withdrawn.

according to data, l'occitane entered the chinese market in 2005 and established its first store in shanghai. in 2010, l'occitane group was listed on the main board of the hong kong stock exchange, becoming the first french company to be listed in hong kong. the brand's hand cream is known as the "hermes" of hand creams and is very popular among consumers.