A-shares at noon | The Shanghai Composite Index rose 0.24%, the ChiNext Index fell 0.34%, with shipping and coal leading the gains.

On September 9, the three major indices of A-shares opened high but subsequently fluctuated and fell back, showing a mixed performance. The Shanghai Composite Index maintained its gains, while the Shenzhen Composite Index and the ChiNext Index opened high but then turned negative. The market displayed a pattern of "differentiated index movements, widespread declines in individual stocks, and strength in shipping and coal." By the midday close, the Shanghai Composite Index rose by 0.24% to 3949.89 points, the Shenzhen Composite Index fell by 0.06% to 13694.33 points, and the ChiNext Index dropped by 0.34% to 3348.29 points. Over 3,500 individual stocks in the market saw declines. The combined trading volume of the Shanghai, Shenzhen, and Hong Kong stock exchanges reached 1.22 trillion yuan, a decrease of 46.1 billion yuan from the previous trading day. Market Overview In terms of market performance, on the upside, sectors such as shipping ports and coal mining and processing led the gains, with active performances in port shipping, military equipment, and cultivated diamond concepts; on the downside, the cultural media sector adjusted sharply, with several stocks in publishing and film reaching daily limits, and gaming and real estate sectors weakened. Overall, hot sectors rotated quickly, with short-term sentiment cooling. The previously strong sectors like media showed evident adjustments today, as market attention shifted towards coal, shipping, and military industries, while there were more declines than gains among individual stocks. The market's profit-making effect was concentrated in the aforementioned sectors. Popular Sectors 1. Coal Mining and Processing Sector Increased After Opening Lower The coal mining and processing sector opened lower but rose later, with Yunnan Coal & Energy reaching a daily limit for the second consecutive day, Zhengzhou Coal Industry & Electric Power and Henan Dayou Energy also hitting their daily limits, while Jinneng Holding Shanxi Coal Industry and Shanxi Huayang Group New Energy rose over 6%, and Shanxi Coal International Energy Group followed suit. Commentary: In the news, the price of thermal coal continues to climb. According to data from the Business Society, the benchmark price for thermal coal on September 9 was 972.75 yuan per ton, an increase of 11.11% since the beginning of the month. Financial Associated Press reported that on September 8, the thermal coal CCI index rose across the board, with 5500 kcal priced at 984 yuan per ton, up 17 yuan from the previous trading day. The rising coal price has driven strength in the coal sector. 2. Port and Shipping Sector Fluctuated and Rose The port and shipping sector fluctuated and rose, with Fujian Highton Development achieving three daily limits in five days, Nanjing Port and China Merchants Energy Shipping reaching their daily limits, COSCO SHIPPING Energy Transportation rising over 5%, and Jiangsu Lianyungang Port also seeing gains. Commentary: In the news, the recent impact of typhoons has receded, and transportation and export conditions have improved. Guangfa Macro data shows that in August, shipping indices increased to varying degrees, and port throughput has significantly recovered week-on-week. The industry's recovery has bolstered the shipping sector. 3. Military Equipment Sector Increased After Opening Lower The military equipment sector opened lower but then rose, with Asian Star Anchor Chain, Anhui Yingliu Electromechanical, and Hunan Tyen Machinery hitting daily limits, Jiangxi Guoke Defence Group rising over 8%, and Jiangxi Hongdu Aviation Industry increasing over 6%, with Inner Mongolia First Machinery Group also among the top gainers. Commentary: In the news, the recent escalation of tensions between the U.S. and Iran has raised geopolitical uncertainties, alongside market expectations for the implementation of "14th Five-Year Plan" military construction plans and the upcoming Zhuhai Airshow, driving strength in the military sector.