A-shares broadly lower in morning session, ChiNext Index tumbles 4.71% by midday

Price Action

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Summary · why it matters

A-shares weakened across the board in the morning session on July 17, with the three major indices opening lower and extending losses. By the midday break, the Shanghai Composite Index had fallen 1.64%, the Shenzhen Component Index dropped 3.7%, and the ChiNext Index tumbled 4.71%. Among sectors, the power sector bucked the trend, with Guangxi Guiguan Electric Power, Shenzhen Nanshan Power, Leshan Electric Power, and Hunan Huayin Electric Power hitting their daily limit up. The broader financial sector saw a sudden surge, with Xiangcai shares soaring to their daily limit up. On-device hardware themes were active, and Mio Convention and Exhibition hit the 20% daily limit up. On the losing side, the pharmaceutical sector broadly corrected, with JOINN Laboratories, Lingkang Pharmaceutical, and Baihua Pharmaceutical hitting their daily limit down. The computing hardware sector fluctuated lower, with Demingli logging its third consecutive daily limit down, while Cambridge Technology and Accelink Technologies also hit their daily limit down.