CSI 300 up 1.39%
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This week, the A-share market is in an attempt to rebound, requiring investors to pay attention to further confirmation of market trends. The performances of major indices are diverging: the SSE Index(000001) rose by 1.56%, CSI 300(000300)by 1.39%, Shenzhen Index(399001)by 2.19%, and ChiNext(399006) by 1.61%. Among these, the Hang Seng Index(HSI)stood out with a weekly gain of 5.62%, hitting a new yearly high.
From a technical perspective, both the SSE Index and Shenzhen Index have surpassed their 50-day moving averages, indicating some improvement in short-term market sentiment. Meanwhile, ChiNext and CSI 300 remain within consolidation ranges. In contrast, overseas markets faced pressure, with the Nasdaq Composite(0NDQC)declining by -4.13% and the S & P 500 Index(0S&P5) by -3.63%, showing a noticeable correction in tech stocks.
Macroeconomically, the February US ISM Manufacturing PMI was reported at 50.3, slightly below expectations, signaling a slowdown in manufacturing recovery. ADP employment data showed an increase of only 77,000 jobs, far below the expected 140,000, reflecting cooling signs in the labor market. EIA crude oil inventories increased significantly by 3.614 million barrels, exceeding market expectations of 2.605 million barrels, suggesting possible changes in oil supply-demand dynamics.
On the domestic policy front, during the National People’s Congress sessions, topics such as raising the individual income tax threshold to RMB 100,000 attracted much attention, with optimistic market expectations for measures to boost consumption. Additionally, the release of “Shenzhen’s Action Plan to Accelerate Building an AI Pioneer City (2025-2026)” bolstered the AI sector. Wu Qing, chairman of the China Securities Regulatory Commission, indicated that mechanisms supporting tech enterprises would be strengthened, enhancing confidence in high-growth companies.
In terms of industries, Comp Sftwr-Spec Enterprs(G2761IG.CN) led gains this week with a weekly increase of 12.42%, followed by Computer Sftwr-Enterprse(G3583IG.CN) and Security/Sfty(G3999IG.CN), which rose by 10.79% and 9.65% respectively. The market has shown significant interest in technology and security-related sectors.
The average gain of TOP33 was 3.05% this week, with 22 stocks rising and 11 falling. Shanghai Weaver Netwrok ‘A'(603039) topped the list with a gain of 31.37%. Its O’Neil score is 76, RS rating is 95, and industry rating stands at 12, which is historically favorable (range 1-40). This stock focuses on collaborative management software, deeply engaging in digital transformation for government bodies and state-owned enterprises. Recently, it saw catalysts including AI applications (Smart Xiao’e LLM platform), growth in XinChuang business, and Huawei HarmonyOS compatibility. On March 6th, it hit the daily limit up (closing price RMB 74.21), with net inflows of RMB 48.9376 million from main funds.
Overall, while the market is attempting a rebound, investors should focus on volume support and the continuity of hot sectors in the short term. Particular attention should be given to enterprises benefiting from policy support. Moreover, adjustments in overseas markets could bring volatility, requiring close monitoring of Fed policies and global economic trends impacting market sentiment.
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published on March 7, 2025