A-shares slide across the board: ChiNext and STAR indices drop over 7%, Shanghai Composite loses 3,800

Price Action Impact 4

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Summary · why it matters

On July 17, the A-share market saw a broad sell-off, with the Shanghai Composite Index falling below the 3,800-point mark and the STAR 50 Index tumbling more than 7%. Combined turnover on the Shanghai and Shenzhen exchanges reached 2.65 trillion yuan, up 251.4 billion yuan from the previous session, while over 5,000 stocks across the market closed lower. The power sector bucked the trend, with Guiguan Electric Power, Shennan Electric A, Leshan Electric Power, and Huayin Electric Power all hitting their daily limit up. The financial sector staged an intraday surge, as Xiangcai shares shot up to their daily limit and China Construction Bank rose over 3%. On-device hardware concepts were active, with Mio Exhibition notching a 20% daily limit up. On the downside, the pharmaceutical sector retreated broadly, with JOINN Laboratories, Lingkang Pharmaceutical, and Baihua Pharmaceutical hitting their daily limit down. Computing hardware stocks tumbled, as Demingli logged its third consecutive limit down, while Changguang Huaxin, Cambridge Technology, and Accelink Technologies also hit their daily limit down. At the close, the Shanghai Composite fell 3.05%, the Shenzhen Component dropped 5.4%, the ChiNext Index lost 7.15%, and the STAR Composite Index declined 8.13%.