Sino-Singapore Jingwei, October 12. The three major A-share indexes opened lower in the morning on the 12th and continued to fall. Near midday, the Shanghai and Shenzhen Component Index fell to 1%.

　　As of the midday close, the Shanghai Composite Index fell 1.04% to 3,554.38 points; the Shenzhen Component Index fell 0.98% to 14226.22 points; the ChiNext Index fell 0.86% to 3,168.73 points.

　　Source of the Shanghai Index in early trading: Wind

　　On the disk, power stocks continued to drop, and the sector as a whole fell by more than 3%. Yinxing Energy, Jilin Power, and Wanneng Power had their lower limit. Jinkai Energy, Leshan Power, and Hengsheng Energy were among the top decliners.

The coal sector opened higher and lowered, and Jizhong Energy fell more than 7%.

The military, steel, petroleum, semiconductor, and paper sectors all fell more than 2%.

　　The pharmaceutical sector bucked the trend and rose, with Shuyu civilians' 20% daily limit, Boji Pharmaceuticals and Pharma Tesco, which rose more than 10%, and Yihua Health's daily limit; real estate and banking sectors rose; concept stocks such as fentanyl, third-child, and pensions were active.

　　Up to now, the ratio of all trading stocks in Shanghai and Shenzhen stocks is 790:3428, with 44 daily limit and 11 daily limit.

　　In terms of individual stocks, the daily limit shares are as follows: Langzi shares (10.00%), Aoyuan Meigu (9.99%), Shuyu Pingmen (19.99%), Harbin Sanlian (10.00%), and King Rabbi (10.05%).

The lower limit shares are as follows: Wanneng Power (-9.92%), Jilin Power (-9.99%), Xinyaqiang (-10.00%), Kehua Data (-10.01%), Jinyuan (-10.03%).

　　The top five stocks with turnover rate are: Shuyu Civilian, Hangzhou Thermal Power, Xinzhonggang, Wanchen Biological, and Valin Cable, which are 52.977%, 42.744%, 38.649%, 32.763%, and 32.097%, respectively. 

　　In terms of northbound funds, the net outflow of northbound funds in the morning exceeded RMB 0 billion, of which the outflow of Shanghai Stock Connect exceeded RMB 100 million and the outflow of Shenzhen Stock Connect exceeded RMB 200 million.

　　Guojin Securities analysis pointed out that entering the fourth quarter, the main contradictions in the A-share market will gradually transition from the third quarterly report to monetary and credit policies.

October is the month of intensive disclosure in the third quarter. The market focus will refocus on corporate profits. The performance of listed companies in the third quarter may begin to reflect economic pressure.

In addition, in the third quarter, the prices of major upstream resource products whose supply was concentrated in the country continued to rise, which may have a certain impact on the gross profit and demand of mid- and downstream companies.

　　Caixin Securities predicts that the market style will continue to rotate rapidly in the fourth quarter, and the division of sectors will also converge.

Specifically, the financial sector with low valuations has strong demand for supplementary growth, especially benefiting from the reform of the capital market and the brokerage sector with active market transactions; the marginal demand for exports and restocking in the fourth quarter weakened, and the macroeconomic cross-cyclical control In the future, the countercyclical sector may show some performance; in addition, the pre-damaged sectors such as aviation, airport, hotel, catering, tourism, cinema, etc. are also expected to usher in valuation restoration.

(Zhongxin Jingwei APP)

(The opinions in the article are for reference only and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)