A-shares diverge on July 22; ChiNext Index drops over 3%

Price Action
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Summary · why it matters

On July 22, A-shares showed a clear divergence. The Shanghai Composite Index fluctuated in a narrow range throughout the day, while the ChiNext Index opened lower and continued to decline. At the close, the Shanghai Composite Index edged up 0.07%, the Shenzhen Component Index fell 1.42%, the ChiNext Index tumbled 3.23%, and the STAR Composite Index dropped 2.25%. Precious metals stocks rose across the board, with Shanjin International hitting the daily limit. The coal sector rallied again, with Dayou Energy and Huadian Energy surging by the daily limit. Power stocks were repeatedly active, with Lixin Energy securing a five-session winning streak and multiple stocks including Huadian Liaoning Energy hitting the daily limit. Oil and gas stocks opened higher and extended gains, with Zhongman Petroleum hitting the daily limit and Keli Shares jumping over 10%. On the downside, the battery industry chain suffered a notable setback, with Penghui Energy plunging over 10%. Total turnover on the two exchanges approached 2.67 trillion yuan.

Impact on stocks 7