A-shares at noon | The indices have weakened, with the ChiNext Index down over 3%, and coal solid-state batteries are active.

On August 24, the three major indices of A-shares opened mixed, with the market collectively weakening in the morning, showing a pattern of "collective index pullback, widespread declines in individual stocks, and defensive sectors thriving against the trend." By the end of the morning session, the Shanghai Composite Index was down 0.71% at 3,877.30 points, the Shenzhen Component Index fell 2.44% to 13,750.12 points, the ChiNext Index decreased by 3.50% to 3,421.50 points, and the STAR Market 50 Index dropped 3.26% to 1,599.65 points. Nearly 4,300 stocks in the market declined, while 41 stocks hit the daily limit. The total trading volume in the Shanghai and Shenzhen markets reached 1.37 trillion yuan, an increase of 117.7 billion yuan compared to the previous trading day. Market Overview In terms of gains, the coal, agriculture, forestry, animal husbandry, and fishery, solid-state battery, and digital currency sectors performed strongly against the trend. On the downside, sectors such as computing hardware, bioproducts, and printed circuit boards experienced declines. Overall, financial data indicated that net inflows of capital were concentrated in non-ferrous metals, industrial metals, and non-bank financial sectors, while there were net outflows in electronics, semiconductors, and telecommunications sectors. Capital flowed out from high-valuation areas such as computing hardware and pharmaceuticals and moved toward rising prices and defensive sectors like coal and non-ferrous metals. Popular Sectors 1. Coal Sector Performs Strongly Against the Trend The coal sector strengthened against the trend, with Shanghai Datun Energy Resources and Shanxi Meijin Energy hitting the daily limit, Shaanxi Coal Industry increasing over 3%, and China Shenhua Energy also following suit. Commentary: In terms of news, the main contract for coking coal futures rose nearly 4% during the day. According to My Steel, some steel mills in Hebei and Tianjin raised their coking coal procurement prices in the first round on August 21 by 50-55 yuan/ton, effective from midnight on the 24th. The price of coking coal in Linfen Anze market increased by 330 yuan/ton. The National Bureau of Statistics disclosed today that the price of anthracite coal in mid-August rose by 3.1% month-on-month, and coking coal prices rose by 7.1% month-on-month, driving the coal sector upward. 2. Solid-State Battery Concept Performs Actively The solid-state battery concept exhibited strong activity, with Tianli Lithium Energy Group hitting a daily limit, along with Shanghai Emperor of Cleaning Hi-Tech, Jinlongyu Group, Delixi New Energy Technology, and Shandong Sacred Sun Power Sources also reaching the daily limit. Commentary: According to news from CCTV, the international standard proposal for "Application Guidelines, Testing Items, and Conditions for Secondary Lithium-Ion Solid-State Batteries for Electric Vehicle Drives," proposed by China, has recently been successfully initiated by the International Electrotechnical Commission, accelerating the standardization process of solid-state batteries and driving up related stocks. 3. Digital Currency Sector Continues Strong Momentum The digital currency sector maintained its strong momentum, with Chutian Dragon and Eastcompeace Technology hitting daily limits. Commentary: In news, Eastcompeace Technology's semi-annual report disclosed on August 22 showed that its revenue from digital security and platform businesses was 215 million yuan, a year-on-year increase of 24.10%, and it won the bid for the eSIM profile download service from a major operator. According to its investor relations activity table from January 8, the DIGIHUMAN RMB hard wallet and terminal products have been implemented in enterprise parks, exhibitions, and everyday consumer scenarios. Combined with the accelerating expectations for the DIGIHUMAN RMB cross-border payment scenarios, this has driven activity in the sector. 4. Agriculture, Forestry, Animal Husbandry, and Fishery Sector Active Against the Trend The agriculture, forestry, animal husbandry, and fishery sector showed activity against the trend, with Xinjiang Tianshan Animal Husbandry Bio-engineering hitting the daily limit, ShanDongDenghai Seeds also reaching the limit, QIU LE SEEDS up over 10%, and Hainan Shennong Seed Industry Technology among those rising. Commentary: According to the Food and Agriculture Organization of the United Nations, the global food price index reached a new high since January 2023 in July, with grain prices up 6.9% year-on-year. The blockade of exports in the Black Sea region has exacerbated market concerns about food supply; the National Bureau of Statistics disclosed today that the price of live pigs rose 5.8% month-on-month in mid-August.