A-share market closing review: Shanghai index rebounded after testing lows, green energy and chemical sectors rallied against the trend

On March 12, the market bottomed out and then rebounded, with the three major indices narrowing their declines in the afternoon. By the close, the Shanghai Composite Index fell 0.1%, the Shenzhen Component Index dropped 0.63%, and the ChiNext Index declined 0.96%. In the trading session, some hotspots repeatedly gained strength, while nearly 3,900 stocks in the entire market declined.

In terms of sectors, the green energy concept surged, with Green Power Generation, China Power Energy hitting the daily limit for three consecutive days, and GCL New Energy, Datang Power, and Jinkai New Energy also hitting the limit.

The chemical sector continued to strengthen, with more than ten constituent stocks hitting the daily limit. Jinniu Chemical rose for nine days with five limit-ups, while Luxin Technology, Sanfangxiang, and Hebang Biological also hit the limit.

The coal sector was active, with Yankuang Energy and Zhengzhou Coal & Electricity hitting the limit, and China Coal Energy reaching an 18-year high.

The carbon fiber concept remained strong, with Zhongfu Shenyan and Jilin Chemical Fiber hitting the limit.

On the downside, the gas turbine concept experienced continuous adjustments, with Boyingte Welding and Hailianxun plunging. The military industry sector weakened, with Hangya Technology and other stocks falling.

The combined trading volume of the Shanghai and Shenzhen markets was 2.44 trillion yuan, shrinking by 66.5 billion yuan compared to the previous trading day.

In individual stocks, Huagong Technology’s total trading volume exceeded 27.7 billion yuan, ranking first among Shanghai and Shenzhen stocks; stocks like Sunshine Power, China Energy Construction, and Goldwind Technology also had high trading volumes.