CSI 300 Up 1.38%
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This week, A-shares continued their upward trend with positive overall market sentiment and sustained capital activity. Major indices posted gains across the board, indicating strong market momentum. The SSE Index(000001) rose 1.52% for the week, just 0.57% below its one-year high and reached a new year-to-date peak; it is currently 13.06% above its 200-day moving average, reflecting solid long-term trends. The CSI 300(000300) gained 1.38%, also setting a new year-high. Small- and mid-cap stocks outperformed, with theShenzhen Index(399001) up 2.65% and the ChiNext(399006) rising 2.10%. Both indices show significant positive deviation from their 50-day and 200-day moving averages, signaling ongoing bullish momentum. Trading volume retreated slightly from last week but remains elevated, indicating persistent investor appetite for higher prices.
Overseas markets also maintained strength. The Nasdaq Composite(0NDQC) and S & P 500 Index(0S&P5) gained 1.58% and 1.63% respectively, both reaching new annual highs. The Hang Seng Index(HSI) surged 3.82%, standing out in Asian markets and further enhancing regional risk appetite.
Macro data released mixed signals. The U.S. August unadjusted CPI rose 2.9% year-over-year and 0.4% month-over-month, exceeding expectations, suggesting inflationary pressures remain. However, benchmark nonfarm employment adjustments plunged to -911,000, while initial jobless claims increased to 263,000, indicating a marked weakening in the labor market. Against this backdrop, markets widely expect the Federal Reserve to cut rates by 25 basis points in September, with potential for additional cuts later this year. Goldman Sachs recently assessed that U.S. economic growth has nearly stalled, requiring multiple rate cuts to sustain momentum, though some institutions caution that tariffs and rising import prices could push inflation higher, complicating policy decisions. EIA crude oil inventories unexpectedly surged by 3.939 million barrels, reflecting weak energy demand and adding another variable to inflation outlooks.
In Europe, the European Central Bank held its deposit facility rate steady at 2%, signaling continued monetary policy caution as it awaits clearer global economic signals. Domestically, policy support remains robust: the State Council approved 10 comprehensive pilot programs for market-based allocation of production factors, providing long-term support for building a unified national market and improving resource allocation. Meanwhile, the Ministry of Commerce emphasized stabilizing the foreign trade base, sending positive signals. Export data has now grown for three consecutive months, with strong performance in integrated circuits, automobiles, and rare earths, benefiting related sectors in the A-share market.
Sector fund flows show a clear concentration in technology and electronics. The top three performing industries this week were: Wholesale-Electronics(G3577IG.CN) weekly gain of 17.33%, trading volume reached RMB 9.951 billion. Despite only six constituent stocks, capital concentration is extremely high, reflecting strong market focus and investor interest in electronics distribution and supply chains. Computer-Hardware/Perip(G3580IG.CN)weekly gain of 12.82%, with 34 component stocks and total trading volume of RMB 62.494 billion. Rising demand for hardware and peripheral products drove capital inflows. Computer-Data Storage(G3578IG.CN)weekly gain of 11.42%, comprising 11 stocks with RMB 3.676 billion in volume, reflecting sustained corporate investment and market recognition in data storage and digital infrastructure.
On the individual stock front, the Top 33 group recorded an average weekly gain of 1.91%, with 19 stocks advancing. Leading the gains was Fujian Aonong Biological Tech Grp(603363), which rose 16.81% for the week, primarily engaged in hog farming and animal feed. After completing its restructuring, the company adjusted its previous nationwide expansion strategy, shifting focus to Jiangxi and Fujian provinces to establish a dominant regional presence. It has clearly articulated a strategy of “Breakthrough in Feed, Optimization in Hog Farming, Development in Food,” leveraging support from industrial investors to extend and integrate its value chain, thereby enhancing overall competitiveness. The stock has an O’Neil Score of 52, RS Rating of 83, EPS Rating of 81, Acc/Dis Rating of 36, and Industry Rank of 35. Benefiting from trends in food safety and consumption upgrading, it is attracting heightened short-term investor attention.
Overall, A-shares continue to demonstrate strength, supported by favorable domestic and international policies and global expectations of monetary easing. Precious metals, consumer, and new energy sectors continue to attract capital. Investors are advised to focus on high-quality stocks with strong MarketSmith industry rankings (preferably within the top 40 out of 197), high O’Neil Scores, and strong Relative Strength Ratings to capture structural investment opportunities.
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published on September 12, 2025