CSI 300 fell by 2.87%.
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This week, the A-share market faced pressure with an overall sluggish trend. The SSE Index(000001) declined by 3.11%, closing at 3238.23 points, still 11.87% away from its one-year high. Despite briefly surpassing the 5-day moving average, the overall weak structure has not improved. The CSI 300(000300) decreased by 2.87%, with a relatively mild correction, supported by heavyweight blue-chip stocks keeping the index stable. The Shenzhen Index(399001) dropped by 5.13%, while the ChiNext(399006) Index plummeted by 6.73%, reflecting the pressure on small-cap growth stocks. The Hang Seng Index(HSI) performed the worst, with a weekly decline of up to 8.47%, ending the previous rebound trend.
In contrast, US stock indices rebounded comprehensively, with the S & P 500 Index(0S&P5) rising by 3.82% and the Nasdaq Composite(0NDQC) surging by 5.13%, led by tech stocks. However, it’s worth noting that both major indices bounced back after hitting annual lows this week, indicating potential structural adjustment risks. Despite the strong stock market performance, recently released March CPI data in the US showed some relief in inflation pressure, with the annual rate falling to 2.4%, lower than the expected 2.6%, indicating a gradual decline in US inflation. Initial jobless claims slightly increased to 223,000 in early March, showing certain resilience in the employment market. Nevertheless, the market remains vigilant about the risk of potential interest rate hikes by the Federal Reserve, especially against the backdrop of economic data rebound. Fluctuations in the crude oil market have not subsided either, with US EIA crude oil inventories increasing to 2.553 million barrels, far exceeding market expectations, posing short-term pressure on oil prices.
More crucially, the escalation of tensions in Sino-US economic and trade relations further increases market uncertainty. The Trump administration announced new tariff measures on Chinese goods, to which the Chinese government quickly responded by imposing a 50% tariff on all imported goods originated from the US and adding 12 US entities to the export control list. In response, the Ministry of Foreign Affairs stated that China is committed to building an open, transparent, and fair international trade environment, and the Chinese market remains an ideal, safe, and reliable investment destination for global investors. Nonetheless, there is widespread concern in the market about the negative impact of escalated tariff wars on the global supply chain, especially the impact on Asian markets. Some enterprises and analysts have expressed strong concerns about the long-term impact of the trade war, believing that the global economy could suffer greater shocks, particularly in high-tech sectors such as semiconductors and electronics manufacturing.
In terms of industries, Retail-Super/Mini Mkts(G5411IG.CN)saw a weekly increase of 9.39%, leading all sectors, benefiting from pre-holiday consumption warming and high-frequency necessity attributes. Food-Dairy Products(G2020IG.CN) rose by 4.57%, with profit recovery expectations enhanced by falling raw material prices and recovering consumption. Agricultural Operations(G1000IG.CN) recorded a gain of 4.33%, with geopolitical risks and inflation expectations continuously driving agricultural-related stocks stronger.
This week, TOP33‘s overall performance was under pressure, with an average decline of -4.81%, only 7 stocks rose while 26 declined, indicating that broad market adjustments also impacted strong stocks. Notably, Chifeng Jilong Gdmng.’A'(600988) bucked the trend with a surge of 15.3%, becoming the strongest performer in this week’s portfolio, highlighting the continuous preference for gold sector funds amidst heightened risk aversion sentiment. Its main business involves gold mining and rare precious metal resource recycling. With an EPS Rating of 98, it shows strong earnings growth momentum. An RS Rating of 90 indicates its strength surpasses most market stocks. Benefiting from the continuous rise in international gold prices and policies encouraging resource integration, the company possesses mid-to-long term allocation value due to policy overlap with industry advantages.
With 817 listed companies about to release their financial reports, the market pays particular attention to the profit growth of export-oriented enterprises, especially those significantly affected by tariff policies. Further tension in Sino-US relations may increase the uncertainty of corporate profits, requiring investors to be wary of short-term market volatility. Meanwhile, global risk aversion sentiment might intensify; investors should closely monitor movements in gold prices and bond markets to avoid single-market risks.
In summary, the current A-share market remains in a phase of fluctuating adjustment, possibly facing increased disturbance from external policies in the short term. It is advised for investors to remain cautious, focus on policy-supported industries, and enhance monitoring of changes in individual stock relative strength and fund flows to seize opportunities in quality growth stocks.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.
published on April 11, 2025