CSI 300 Falls by 0.81%
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The A-share market sustained an overall upward trend this week, maintaining a positive investment environment, although major indices showed divergence. The SSE Index(000001) fell by 1.18% for the week, with a gap of approximately 1.96% from its one-year high, and trading volume decreased to 0.87 times that of last week. Despite short-term pressure, the index remains significantly higher than the 200-day moving average by 11.77%, indicating no change in the mid-term trend. The CSI 300(000300) slightly declined by 0.81% but still hit a yearly high for the week, showing enhanced institutional funding allocation intentions towards core assets. In contrast, the Shenzhen Index(399001) and ChiNext(399006) saw changes of -0.83% and 2.35%, respectively, both hitting yearly highs, with ChiNext performing more strongly relatively. Overall, large-cap blue-chips seemed under slight pressure, while growth sectors continued to strengthen, highlighting the market’s structural bull run.The Hong Kong stock market showed moderate performance, with the Hang Seng Index(HSI) rising by 1.36% for the week, retreating about 1.93% from its one-year peak. The capital surface was relatively calm, with the market largely awaiting further implementation of domestic policies.
Overseas markets remained strong. The Nasdaq Composite(0NDQC) rose by 1.18%, just 0.44% away from its yearly high, while the S & P 500 Index(0S&P5) increased by 0.65%, maintaining a stable overall trend. Economic data from the U.S. indicated a slowdown in recovery momentum: August’s ISM Manufacturing PMI stood at 48.7, continuously within the contraction range; ADP employment figures were recorded at 54,000, significantly lower than previous values; initial jobless claims rose to 237,000, reflecting a cooling labor market. Meanwhile, EIA crude oil inventories unexpectedly increased by 2.415 million barrels, far exceeding expectations, signaling signs of demand slowdown. Weak data reinforced bets on interest rate cuts by the Federal Reserve, pushing the 10-year U.S. Treasury yield to a four-month low. Several officials released dovish signals, though some emphasized significant inflation pressures, making a September rate cut not certain.
On the policy and news front, frequent signals emerged domestically and internationally this week. Domestically, the Ministry of Finance and the People’s Bank of China held their second joint working group meeting, with the PBOC announcing a 10 billion yuan buyout reverse repo operation on September 5th, demonstrating determination in stabilizing growth and maintaining liquidity. Simultaneously, the General Office issued 20 measures to promote sports industry development, further unleashing consumption potential. On the other hand, personal mortgage balances of six major banks continued to shrink in the first half of the year, with early repayment demands somewhat alleviated, yet the real estate industry as a whole remained in a downturn phase.
Internationally, Trump signed an executive order officially implementing the U.S.-Japan trade agreement and stated imposing “considerable” tariffs on chips, potentially disrupting the global semiconductor industry chain. Global bond markets faced substantial declines amid concerns over the “September curse,” triggering safe-haven demands, with gold prices continually hitting new highs. Wall Street institutions widely viewed positively, with some predicting it might break through $4,250 next year. Additionally, Dalio warned that U.S. debt issues could erupt during Trump’s second term, intensifying long-term risk concerns in the market.
At the industry level, funds concentrated on technology and consumption upgrade directions. Mining-Gold/Silver/Gems(G1040IG.CN) sector saw a weekly gain of 9.6%. Amidst global bond market turmoil and heightened expectations of a Fed rate cut, funds poured into precious metal-related stocks, with gold and silver prices hitting new highs again. Multiple Wall Street institutions raised their gold price forecasts, fully showcasing the industry’s fund and safe-haven attributes, becoming a market focus. Leisure-Travel Booking(G7903IG.CN) had a weekly increase of 5.41%. With domestic consumption recovery, holidays approaching, and support from sports industry policies, travel and booking platforms benefited from extended consumption scenarios. Institutions forecasted continued high prosperity in tourism consumption for the second half of the year, with leading companies likely benefiting from brand and platform advantages. Energy-Alternative/Other(G1318IG.CN) gained 5.33% for the week. New energy-related sectors strengthened again against the backdrop of global energy structure transformation, especially alternative energy and new storage solutions attracting attention. Long-term growth logic remains clear, with policy support and technological breakthroughs possibly serving as further catalysts.
This week, the top 33 portfolio averaged a decline of 2.73%, with Xi’An Sinofuse Electric Co(301031) being the best-performing stock, surging by 16.22%. The company specializes in fuses and related accessories, widely used in emerging industries such as new energy vehicles, new energy power generation and storage, and rail transit. Its EPS Rating reached as high as 99, indicating robust earnings growth, and RS Rating scored 88, keeping the stock price trend strong. Ranking 20th in its industry, it falls within a stronger interval, combined with an O’Neil Score of 74, showing a high match between fundamentals and industry trends. Sinofuse Electric ranks first in market share for new energy vehicle fuses, featuring a clear long-term growth logic.
Overall, despite increased short-term market volatility, the trend remains positive. The A-share market continues its structural bull run, with growth and innovation tracks dominating. Investors should focus on top-ranked industries, fundamentally sound stocks with high O’Neil Scores and strong Relative Strength Ratings, seizing medium-term opportunities amidst ongoing trends.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.
published on September 5, 2025