A-share major indices close lower across the board; STAR Composite Index bucks trend with 3.43% gain

Price Action

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Summary · why it matters

On July 16, all three major A-share indices closed lower. The ChiNext Index fell nearly 3%, the Shenzhen Component Index dropped close to 2%, and the Shanghai Composite Index lost 1.85%. The STAR 50 Index surged then pulled back, ending down over 4%, but the STAR Composite Index bucked the trend to rise 3.43%. Total turnover on the Shanghai and Shenzhen exchanges reached 2.4 trillion yuan, shrinking by 167.6 billion yuan from the previous trading day. Over 2,800 stocks declined across the market. In sector performance, the pharmaceutical sector was active against the trend, with Harbin Pharmaceutical recording a five-session winning streak, and Zhangzhou Pientzehuang and Zhenbaodao hitting the daily limit up. The on-device AI concept fluctuated higher, with Zhidu Corporation notching a two-session winning streak. The film and television cinema concept continued its strong momentum, with Ruyi Film achieving a two-session winning streak and Shanghai Film hitting the daily limit up. On the downside, the semiconductor supply chain saw a broad correction, with Shenghui Integration falling by the daily limit for a second straight day, storage chip concept company Demingli also down by the daily limit for a second consecutive day, and GigaDevice hitting the daily limit down.