A-shares mixed at midday; agriculture and AI application sectors see wave of limit-ups

Industry
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Summary · why it matters

On September 1, major A-share indices were mixed, with the ChiNext-style indices relatively weak. By the midday close, the Shanghai Composite Index stood at 3,987.56 points, up 0.03 percent, while the Shenzhen Component Index fell 0.58 percent, the ChiNext Index fell 0.92 percent, and the SSE STAR 50 Composite Index fell 1.77 percent. Combined turnover across Shanghai, Shenzhen and Beijing reached 1.3612 trillion yuan in the half-day session, an increase of 40.5 billion yuan compared with the same period of the previous trading day. On the sector front, agriculture strengthened again, with Wanxiang Doneed hitting the daily limit one minute after the open to log its sixth consecutive limit-up, Xinsai shares notching a fourth straight limit-up, and Fujian Jinsen logging a third straight limit-up. AI application names remained hot, with Mango Excellent Media surging by the 20 percent daily limit for a second consecutive session, while China Guangdian Tianze and Huanrui Century also posted second straight limit-ups. Consumer plays were active, with Gujing Gongjiu, Maoye Commercial and Dongbai Group all hitting limit-up. In news, the Ministry of Industry and Information Technology issued a notice on launching a special action to cultivate artificial intelligence application service providers, laying out four key tasks and exploring greater procurement of large models, intelligent agents, tokens and related services. TrendForce data show that capital expenditure by the world's nine major cloud service providers is expected to exceed 886.7 billion US dollars in 2026, up 90 percent year on year, and could climb to about 1.3 trillion US dollars in 2027. Wanxiang Doneed issued an unusual movement announcement, warning of oversupply in the corn seed industry and the risk of declining gross margins. Institutions believe the strength in agriculture, forestry, animal husbandry and fishery stocks reflects the combined effect of geopolitical conflicts, extreme weather and policy adjustments.

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