A-share review | Index differentiation, Shanghai index rose 0.28%, coal shipping led

The Zhitong Finance App learned that on September 9, the trend of major A-share indices diverged. The Shanghai Composite Index bottomed out in the afternoon, closing at 3951.51 points, up 0.28%; the Shenzhen Securities Index closed at 13723.32 points, up 0.15%; the GEM Index closed at 3354.97 points, down 0.14%; the Science and Technology Innovation 50 Index closed at 1580.06 points, down 0.69%; and the Beijing Stock Exchange 50 Index closed at 1081.81 points, up 0.41%. The total turnover of the Shanghai and Shenzhen markets was about 1.86 trillion yuan (18556.07 billion yuan), a decrease of more than 100 billion yuan from the previous trading day. The entire market declined more and less, rising 1,794 individual stocks, falling 3,642, and closing 124, rising and stopping 49 and falling 9. The share of rising individual stocks was about 30%. The overall profit effect was weak. In terms of sectors, the increase in resources and cycles such as coal mining, port shipping, rubber, precious metals, and agricultural product processing was the highest, while topics such as games, cultural media, and intellectual property protection led the decline.

driving factors

On the same day, the main board bottomed out and rebounded, driven by cyclical weights such as coal and shipping, while growth indices such as the GEM Index and Science and Technology Innovation 50 closed down, and there was a clear divergence between indices. The turnover of the two markets shrunk by more than 100 billion yuan compared to the previous day, and the total market fell by more than 3,600 individual stocks, accounting for only about 30% of the increase, showing a typical structural differentiation rather than a general rise. In the leading direction, the thermal coal CCI index rose across the board on September 8 (5,500 kcal reported 984 yuan/ton, up 17 yuan from the previous day), catalyzing the coal sector; cultivating diamonds was boosted by research reports from institutions related to AI chip cooling materials; and cyclical themes such as BDI, rice wine, and sugar were active simultaneously. In the direction of decline, recent major stocks such as games and cultural media have concentrated their correction, but the decline in GEM and Science Innovation 50 is relatively limited.

Popular sector aspects

[Coal] The coal sector was active throughout the day, with the highest increase. Zhengzhou coal and electricity rose 10.04%, Yunmei Energy rose 10.07%, and energy rose and stopped. Catalytically, the thermal coal CCI index rose across the board on September 8. The spot price of 5,500 kcal was 984 yuan/ton, up 17 yuan/ton from the previous day. Stronger coal prices drove sector sentiment.

[Port Shipping/BDI] The port shipping sector strengthened. Nanjing Port rose 10.03%, China Merchants Shipping rose 10.01%, and the BDI concept rose 4.05% at the same time. The direction of dry bulk transportation was outstanding.

[Cultivating Diamonds/Precious Metals] The cultivating diamond sector rose 3.12%, and Wald and others surged; institutional research reports indicate that diamond copper is expected to take the lead in large-scale application due to the advantages of matching thermal conductivity, cost and thermal expansion. The compound growth rate of the global AI chip diamond copper market is expected to reach 237% from 2025 to 2029. Precious metals and non-ferrous metals (antimony) also showed performance. Hunan gold rose 10.02% to a halt.

Adjust the section

On the same day, the decline in games, cultural media, and intellectual property protection was the highest. Among them, the game sector Dasheng Culture fell to a standstill (down 9.98%); the cultural media sector, Mango Supermedia fell by more than 9% (down 9.94%), publishing media fell to a standstill, and the real estate sector also fell collectively, and I Love My Family led the decline (9.30%). The above direction had the highest decline on the same day, corresponding to a pattern of market differentiation where cyclical resources strengthened and subject matter depreciated.