China Stocks Review: Three Major Indices Surge in Consecutive Gains! Shanghai Composite Rises 0.45% to 3633.99 Points, Approaching Last Week's High; Military-Industrial, PEEK Material, and Robot Panels Lead the Way!
Glory & Honor August 6th | China stocks continued their upward trend today, with all three major indices recording daily highs for the third consecutive day. As of closing, the Shanghai Composite Index rose 0.45% to 3633.99 points, while the Shenzhen Component Index rose 0.64%, and the ChiNext Index rose 0.66%. Total trading volume reached 17.6 trillion yuan, up by 1434 billion from the previous trading day, with over 3300 stocks rising.
On the market, the military-industrial sector led the way, with Inner Mongolia Aircraft Manufacturing Co., Ltd. (600967) and China Shipbuilding Corporation (600150) among the top ten stocks that rose to their daily highs. The PEEK material and robot panels also remained active, with Zhongxin Fluoroplastic Co., Ltd. (002915) and Xinhang New Materials among the many stocks that rose to their daily highs. The rubber product sector was strong as well, with HuaMi Xinxin Materials rising 30% to its daily high. The liquid cooling concept also saw gains, with Kexin Innovative Source (300731) rising 20% to its daily high. Other leading sectors included electrical equipment, biological fermentation, and industrial machinery.
On the other hand, the pharmaceutical sector saw a broad decline, with directions such as hepatitis, traditional Chinese medicine, CRO, and innovative drugs all trending downward. Qizheng Pharmaceutical Co., Ltd. (002287) and Hanyu Pharmaceutical Co., Ltd. were among the many stocks that fell to their daily lows. The Tibet sector also saw a decline, with Tibetan Tourism Development Co., Ltd. (600326) and Tibetan Travel Services (600749) both falling to their daily lows. The chemical pharmaceutical, biological vaccine, medical device, and tourism hotel sectors all saw declines as well.