CSI 300 up 4.18%
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This week, the A-share market continued its strong performance, with major indices recording significant gains, indicating an overall upward trend and a marked improvement in capital sentiment. The SSE Index(000001)rose 3.49% over the week, hitting a one-year high. Trading volume increased by approximately 17% compared to last week, showing active capital inflows. The Shenzhen Index(399001) and ChiNext(399006) rose by 4.57% and 5.85%, respectively, both reaching annual highs, with growth-style stocks receiving particular attention from investors. In the large-cap blue-chip sector, the CSI 300(000300) rose 4.18%, demonstrating stable performance. In contrast, overseas markets showed signs of divergence: the Nasdaq Composite(0NDQC) fell 2.42%, and the S & P 500 Index(0S&P5) dropped 1.23%, indicating short-term pressure on US stocks, with some capital potentially accelerating its return to emerging markets. The Hang Seng Index(HSI) rose 0.27%, maintaining a range-bound fluctuation.
On a macro level, Chinese economic data released positive signals. In July, total social electricity consumption grew by 8.6% year-over-year, significantly higher than the previous value of 5.4%, indicating faster production and consumption activities. The State Council meeting proposed continuously stimulating consumer potential and systematically removing restrictive measures on consumption. Two departments announced that child-rearing subsidies would be exempt from individual income tax, all of which are conducive to stabilizing medium- to long-term consumer demand. Additionally, the 500 billion yuan “quasi-fiscal” tool will focus on supporting emerging industries and infrastructure, coupled with central government pork reserve purchases, enhancing market confidence further through this policy combination. Internationally, Goldman Sachs predicted that China’s stock market still has the potential to attract over 10 trillion yuan in capital inflows, echoing the recent trend of increasing market trading volumes.
In terms of overseas developments, US economic data and policy signals were mixed. The latest EIA data showed a reduction of 6.014 million barrels in crude oil inventories, far exceeding expectations, pushing up energy price volatility. Initial jobless claims rose to 235,000, indicating a weakening edge in the employment market, yet the Federal Reserve maintained its hawkish stance, prioritizing inflation risks over employment pressures. Goldman Sachs’ chief strategist suggested adjusting layouts before interest rate cuts, signaling rising market expectations for monetary policy shifts. Trump’s tariffs did not raise inflation; however, their impact on the semiconductor industry chain is still unfolding, with recent reports suggesting he has set his sights on Samsung shares, highlighting geopolitical games in the tech sector.
Regarding sector performances, this week’s market rise was mainly led by the technology sector. The Computer Sftwr-Financial(G2821IG.CN) sector saw a weekly increase of 16.47%, ranking first among gainers. Against the backdrop of accelerated upgrades in banking and securities IT systems and digital transformation in finance, order demands have notably increased, becoming one of the main themes in the market. The Computer-Hardware/Perip(G3580IG.CN)sector rose by 12.94%, showing robust performance. Benefiting from rapid growth in AI server shipments and increasing demand for peripheral device replacements, the hardware industry chain is experiencing a period of high prosperity. Similarly, the Computer-Data Storage(G3578IG.CN) sector stood out with a weekly increase of 12.79%. With the acceleration of AI model training and applications, the demand for massive data storage is surging, driving up the penetration rates of high-performance storage devices and solutions.
From an individual stock perspective, the top 33 stocks averaged a rise of 6.52% this week, with Ruijie Networks(301165) being the standout performer, surging 32.17%. The company specializes in network equipment, cybersecurity products, and cloud desktop solutions, serving key sectors such as government, finance, education, healthcare, and energy. Its O’Neil Score is 76, RS Rating is 96, and EPS Rating is 95, all at relatively high levels, reflecting strong profitability and stock strength. Although its industry rating is 49, slightly above the ideal range, its growth potential remains attractive given the context of digital transformation and favorable policies.
As 4,034 listed companies prepare to disclose earnings reports next week, the market is entering an earnings verification phase, likely leading to increased volatility. Considering the current situation where indices have reached new highs, trading volumes are expanding, and policies and capital flows are positively aligned, the short-term A-share market retains considerable resilience. However, it is essential to monitor the differentiation brought about by earnings disclosures across industries and individual stocks.
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published on August 22, 2025